Posted on 05/15/2016 12:33:12 AM PDT by nickcarraway
Saudi Arabia's credit rating has been downgraded by Moody's because of the long and deep slump in oil prices.
Moody's Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar.
Saudi Arabia is the world's largest oil exporter. Moody's cut the country's long-term issuer rating one notch to A1 from Aa3 after a review that began in March.
(Excerpt) Read more at thejakartapost.com ...
But yes, and prices are probably going to stay soft.
I have seen miles of unused tanker cars parked along unused tracks lately.
There’s a good chance the “unused” railway tankers are full of oil, storing it until markets improve.
Thanks nickcarraway. A coworker just resigned in the past couple of weeks, becoming a truck driver, school is paid for, has to drive for the new employer x number of years -- and it's in the Dakotas, I'd guess, oil tanker trucks.
When the House of Saud can’t payoff crazies within their own family there will be insane takeovers and chaos...
Iran will step in - and we’ll all be involved in a war.
Or we can let the ME rot in hell and stay out of it... which is the better solution.
Yeah, but the hammer is still there and ready to drop on the sand kingdom.
After 1973, we should have made Energy Independence our top priority.
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