Saudi Arabia does not control the price of oil and the leverage OPEC has on the price of oil shrinks with each passing day.
The Saudis are the 800 pound gorilla of OPEC.Yes,it's true that OPEC's influence has slowly diminished to the point that they can't *control* the world market but they're still a force to be reckoned with.And it's my understanding that our frackers are one of their targets today.And maybe the Russians are a target too.After all,they're a major producer outside of OPEC.