When any sudden puzzling situation (oil crash) you have to ask ‘what’s changed?’ Clearly the Sauds could have driven the price down a year, two years ago, what made them choose six months ago? New blood... who sees it’s time for Iran to GO and Russia to get a grip.
And to take down their unintended consequence: ISIS. Those madrassas are paying off a little more than planned for.
BTW....Salam’s son is taller than all the rest...easy to pick out in a group..just looke for the tall one! He’s a BIG guy!
I would suggest that it wasn’t the Saudi’s that drove down the price of oil.
It’s all about the US Dollar.
The Fed stopped QE* and told the world they “may” begin raising rates. That rightfully sent the Dollar on it’s current upward trend. The Saudi’s get US Dollars for their oil and most of those Dollars are spent in the Eurozone.
While the price per barrel has been cut in half it has been offset by the substantial increase their purchasing power as the US Dollar has appreciated against every major currency and in particular the Euro.
It’s almost a wash.
Just IN.....
VP Biden to lead US Delegation to SaudiArabia in coming Days..to pay our respects & offer Condolences”