The reason for falling oil prices explained (maye)
Interesting article on Bloomberg today SEE IT HERE
Forum Discussion
The article is fairly accurate:
Overseas production UP
North American production UP
World Wide consumption flat to declining (depends on market and who is measuring)
Saudi would like to undercut Fraking by reducing the price.
Saudi, US and Europe like the price cuts as it undermines the ability for Russia and Iran to spend on arms and armament.
There is an OPEC meeting later this month Venezuela & Iran is expected to push for production curbs.
Russia will also.
It is expected that Saudi, Iraq, Kuwait & Liberia will resist.
Neither North America nor North Sea production is expected to cur production.
Overseas production UP
North American production UP
World Wide consumption flat to declining (depends on market and who is measuring)
Saudi would like to undercut Fraking by reducing the price.
Saudi, US and Europe like the price cuts as it undermines the ability for Russia and Iran to spend on arms and armament.
There is an OPEC meeting later this month Venezuela & Iran is expected to push for production curbs.
Russia will also.
It is expected that Saudi, Iraq, Kuwait & Liberia will resist.
Neither North America nor North Sea production is expected to cur production.
