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Page added on October 11, 2012
Saudi Arabia incapable of influencing oil market
presstvglobalnews discussing higher oil prices October 2012
2 Comments on "Saudi Arabia incapable of influencing oil market"
BillT on Thu, 11th Oct 2012 8:15 am
OPEC could raise prices by withholding oil, but they (the leaders)will not do that as they need every dollar to keep their own necks attached to their heads.
Arthur on Thu, 11th Oct 2012 11:46 am
Wonderful, the internet, isn’t it. Some consultant from Alabama, with minimal hardware investment communicates, with video, to a studio in Tehran. And is watched several hours later in Holland and everywhere else on the planet.
Bill is right of course. The Saudi satraps have witnessed the fate of people like Khadaffi and Mubarak and they know they will perish as well on the very moment the US (has to) withdraw(s) from the Gulf. The moment Iran and Turkey will fight over the remaining pieces from the Saudi carcass. Iran has the better (mightier) friends though and hence the better cards. SA is owned by the US, just like Europe is owned by Russia.