Saudis can cope with LOW oil price !

[size=12pt]Saudi Arabia can cope with low oil prices for "at least eight years"[/size] :

Minister of petroleum .

             

Mohammed al-Sabban said the country's policy was to defend its current market share ;

by enduring low prices. 


"You need to allow prices to go as low as possible in order to see those marginal producers

move out of the market,"

Saudi Arabia, the largest producer within the Opec oil producers' cartel :

has repeatedly said that it will not cut output to try to boost the oil price.

The dramatic fall has been blamed on a sharp increase in production from North American shale

companies, which has increased the supply of oil and gas, helping to depress prices.

what I said earlier 

[quote author=ketchim link=topic=95154.msg611788#msg611788 date=1421530407]
USA shale is quadruple the price of Saudi drills ! Russia extraction to refinery is expensive also.

This is a political game intended to be punitive with russia. but will backfire on the USA .

Thats the only double edge sword I can imagine
[/quote]

Brent crude was trading at around $49.40 a barrel, down 77 cents...

US crude was trading down 74 cents at $47.95 a barrel....

        The falls came after Saudi Arabia said again on Sunday that it would not cut output
to prop up oil markets.

[quote author=The Captain link=topic=95154.msg611989#msg611989 date=1421549453]
Yep Americans are the only beneficiaries of your foolish believes
The U.S. is the only place who needs energy
[/quote]

8 more Years for The Captain  :-[

"If they want to cut production they are welcome.

We are not going to cut, certainly Saudi Arabia is not going to cut."

great now i can get me a new car

IF you still have a J_O-B-

when your economy crashes  :-[

[quote author=ketchim link=topic=95217.msg612661#msg612661 date=1421696495]
The “conversation” was organised by Persad-Bissessar, in response to some of the reactions

across various sectors in the country, in light of her address to the nation on January 8,

regarding the fall in energy prices and its impact on the economy.
[/quote]

Cappo , trinis will experience y'all problems  ::LOL::