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RE:Readings From TIS group - Yemen - phase 2 ..

[JohnJBond]

This Yemen business has a lot more to it oil price wise than potential damage to oil facilities.

Presently Saudi Arabia is leading a war on US oil producers.

Saudi Arabia is leading the OPEC position of maintaining production levels, rather than maintaining high prices with a production cut.

Saudi Arabia is also believed to be behind sending oil to the US to be stored - thereby increasing the weekly storage reports.

Saudi Arabia may also be involved in the PR media bias towards telling North American's their oil storage is about to be full, and oil prices are going lower.

Now we have a situation where an Iranian sponsored Army is being opposted in Yeman by Saudi Millitary action.

Yeman is essentially a proxi war between Saudi Arabia and Iran.

At some point Saudi Arabia will ask for US millitary support, and the US will ask for something in return!

One wonders if the quid pro quo will be for Saudi Arabia to stop its oil war with the US!

At the same time we have Iran wanting its sanctions removed, allowing the export of more oil    If it were up to the US, Iran would likely never be released from the current sactions.    Russia is the power behind the scenes, but Russia likely doesn't want more oil on the World market anymore than the US oil industry.

I'm just scratching the surface here.............suffice to say, there are a lot of moving parts, and each has their own agenda.     The bottomline is Saudi Arabia has been a pain in the back of the US oil sector, and now that Saudi Arabia wants something from the US, things might change.    We know several of the OPEC members would like higher oil prices, but don't carry enough weight to cut production alone, and would prefer Saudi Arabia to make the bulk of these cuts.........the Yeman conflict might be the tipping point