Saudi Arabia's Contribution to Sustained Crude Lows Highly Underscored

摘要

Not many even in the oil and gas industry may quite realize how much clout Saudi Arabia has in determining crude prices. The country has the capacity to influence the global price of crude by either continuing to vigorously pump large volumes of oil as it is currently doing to keep prices low or cut its production by a reasonable quantity to push prices up. One disguised reason for crude lows stagnating as latest estimates show is that the drop in prices is hurting Saudi Arabia but not enough for it to call a truce with the US shale oil producers.