RE:RE:RE:RE:RE:Key factorssaudis can get up to 12 mil if they want to. this isn't about punishing opec members at all. the russians were the 1 st to lower rates as they needed cash to support their failing economy due to the sanctions. the saudi's saw it as a threat to their market share and responded.
the other big reason is there is so much more oil available now due us shale and deep off shore discoveries the saudis have now decided to slow this down by lowering prices and offsetting it with more productions. this is the worrying part for iae investors as this will take a long sustained approach to hurt and slow down the more expensive oil producers, unfortunately iae will fall into this camp. if iae can't make money on stella their debt will eventually kill them imho.
one thing for sure is it sure will be interesting to see what happens. at this point i like north american nat gas more than any oil as this industry has already been decimated for the last few years (tell last winter) and only the strong have survived the 2 buck nat gas. I think oil is about to go thru a similar phase of weeding out the weak high cost debt ridden companies.
cheers ferret