https://www.denverpost.com/2017/12/26/libya-pipeline-blast-drives-oil-price-up/
https://www.cnbc.com/video/2017/12/26/seaport-global-heres-why-theres-a-price-jump-in-oil.html
mostly unrelated sidebar:
https://www.cnbc.com/2017/12/28/apple-and-amazon-in-saudi-arabia-talks-sources.html
All frackers are hedging the future price now.
https://www.bloomberg.com/quote/CO1:COM
Take the following article with a grain of salt https://dailyreckoning.com/oil-prices-soon-drop-50/ but the price will go south unless Russia(?) will instigate a war somewhere.
Saudi will be very lucky if they can place the Aramco IPO:
All this means Saudi Arabia needs the price of oil to not only stabilise but increase rapidly. Its reforms are not just a money making exercise but part of a wider attempt to revitalise the country’s stagnating economy. Proceeds from the IPO will go to the Public Investment Fund, an initiative started by the Saudi government in 1971 to support non-oil parts of the economy.
Saudi Arabia has denied it will wait until 2019 to hold the IPO and get Aramco listed. To justify its own $2 trillion valuation of Aramco, the Kingdom must hope for the price of oil to reach $100 dpb. Anything less and Saudi Arabia will simply not have enough reform to its desperate, state dependent economy.
Despite decades of strictly conservative religious government, Saudi Arabia is a young country. 75 per cent of its population is under the age of 35. If it gets the reforms right then it could continue to be massive regional and global power, even after the oil starts to run out.
http://www.cityam.com/277368/saudi-sell-off-puts-lot-stake
MbS has to arrest many more of his competing princes to get more money to stay in business.
“My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel”
https://www.reddit.com/r/QuotesPorn/comments/3bai3x/my_grandfather_rode_a_camel_my_father_rode_a/