[thackney]

But sill, it seems to me that we are playing fair and OPEC is not.

Do you understand the price is dropping due to reductions in the global demand growth rate (still growing, just slower) while the US and Canada is increasing production at a faster rate, while OPEC is basically holding steady.

This is actually OPEC not being effective and the market responding.

[privatedrive]

OPEC is holding steady?

I think they slashed the price to try to destroy their biggest threat: the US fracking industry.

And as you noted, global demand is still rising, although at a slightly reduced rate.

By the way, I’m wondering: What is the Saudi’s break-even price for a barrel?