The New Cartel Running The Oil Sector –
The New Cartel Running The Oil Sector
As oil prices wallow near multi-year lows, it’s becoming increasingly clear that the new cartel controlling oil prices is not OPEC but world credit markets. From Saudi Arabia’s record $100 billion deficit to shale oil’s continuing reliance on cheap
Oil price rout will bring end to era of Saudi Arabian largesse, warns Bank of
Saudi Arabia, Squeezed by Low Oil Prices, Cuts Spending to Shrink DeficitNew York Times
Stung by low oil prices, Saudi makes unprecedented cutsYahoo News
Seeking Alpha –RT
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