Financial Times: Saudi claims oil price strategy success
Saudi Arabia says its strategy of squeezing high-cost rivals such as US shale producers is succeeding, as the world’s largest crude exporter seeks to reassert itself as the dominant force in the global oil market.
The kingdom’s production rose to a record high of 10.3m barrels a day in April and there is no sign that it plans to reverse its policy at next month’s meeting of Opec, the producers’ cartel, in Vienna.
More News On Saudi Arabia Claiming Success In The Oil Price War
Saudi Arabia Says Its Flood Of Low-Cost Oil Is Hobbling US Shale Rivals -- IBTimes
Saudi Arabia claims success in tussle for oil market share -- RT
Saudi Arabia continues oil market war -- Press TV (Iran)
Saudi Arabia Continues To Turn Screws On U.S. Shale -- OilPrice.com
Saudis Boosted Oil Output in April as U.S. Idled Rigs -- Bloomberg
Saudi Arabia Winning War on US Oil -- Live Trading News
Is Saudi Arabia Drowning Rivals in Oversupply? -- Chris Dieterich, Barrons
IEA Says OPEC Battle for Oil Market Share Only Just Started -- Bloomberg
3 comments:
Is market share and suppression of competition really their end strategic goal?
It will be interesting to see these oil rentier states in 20 years from now, with all the conversions to wind, solar and geothermal energy picking up.
Wind and solar cannot be base for an electrical grid.
Not yet.
Germany has to go back to coal unless they want to bring down their grid and trash a whole bunch of electronics.
Low power/ brown outs damages equipment similar to over voltages.
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