[AdmSmith]

With its huge reserves, Saudi Arabia will continue to be able to keep prices from rising too high, but the re-emergence of Iran and Iraq as major players may prevent them from keeping them from dropping too low. Some analysts suggest that this will be a big worry for Riyadh, which has seen spending balloon since the Arab Spring.

Saudi Arabia’s only avoided budget deficits in 2010 and 2011 because of higher-than-forecast oil prices and output. In 2011, Saudi Arabia announced two fiscal packages totalling 480 billion riyals (Dh470.1bn), or near 25 per cent of GDP at 2011 prices, Ms Sen points out, putting a heavy burden on its oil sector.

“The growth of both US and Iraqi production, at least on paper, threatens the kingdom’s share of the market just as its own rising domestic consumption reduces its exports,” said Ms Sen. “Even if the question of how to accommodate Iraq was avoided at the Vienna meeting, it cannot be kept under wraps for much longer.”

http://www.thenational.ae/business/industry-insights/energy/opecs-role-as-global-oil-policeman-under-threat#full

probably the reason why Saudi is financing AQ in Iraq and Syria and environmentalist in the US

[AdmSmith]

Putin has spy plot to halt fracking in UK, warns Nato chief: ‘Agents are working with green campaigners to make sure Europe still has to rely on Russian energy’

Read more: http://www.dailymail.co.uk/news/article-2663075/Putin-plotting-halt-UK-fracking-warns-Nato-chief-Secretary-General-claims-agents-working-campaigners-make-sure-Europe-continues-reliance-Russian-energy-exports.html