[GeronL]

good

It could implode and crush the royal family soon

[arthurus]

The Sauds have now another reason to keep the price down and that is to minimize Iranian oil income now that Obama has opened up the market to the Iranians again.

[2001convSVT]

Conventional wisdom is that “The Saudis have kept their production levels high since last year in order to drive other players (especially U.S. shale drillers) out of business.”

That is a very simple way of looking at it, there is an alternative theory that the Saudis are keeping prices low to destabilize the Iranian economy and weaken there insurgency actions in the regions, specially in Syria and Yemen.

[familyop]

Russia and Iran have governments and economies that are more dependent on higher oil prices than the Saudis.

[Mr Radical]

"Saudi Arabia is returning to the bond market with a plan to raise $27bn by the end of the year, in the starkest sign yet of the strain lower oil prices are putting on the finances of the world’s largest oil exporter... Fahad al-Mubarak, the governor of the Saudi Arabian Monetary Agency, said in July that Riyadh had already issued its first $4bn in local bonds, the first sovereign issuance since 2007.
Financal Times August 5th 2015