Saudi Arabia has pushed oil price down to its likely break even level. Don't buy the "they're doing this for market share" explanation
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@emptywheel maybe ksa's gone green & wants to stop fracking & xl. Just kidding! But they can't hold these levels forever & then shale oil -
@emptywheel & tar sands back & business. I think KSA wants to kick Iran & Russia's ass over Syria. If mitch can block Iran deal, maybe -
@emptywheel pricy crude back on the menu as favor to us drillers.
End of conversation
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