GREY:WFREF - Post by User
Comment by
Sumcan2on Dec 13, 2014 6:05pm
231 Views
Post# 23227971
RE:Seeking Alpha article
RE:Seeking Alpha article
His calculations are probably fairly accurate but he his definitely missing that after more than a 15% drop from $60 WTI they may not be in compliance with their credit facility covenents which are based on the trailing 12 months EBITDA if the drop persists for very long.
It will all depend on how stuborn the Saudis are on keeping the price down to punish the non OPEC producers. They all need to cooperate to not over supply. The Saudis should not have to do it by themselves.