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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.22

-0.2%

Nov 21 4:00 PM EST

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To: carranza2 who wrote (107928)	10/10/2014 3:33:28 PM
From: Elroy Jetson	Read Replies (1) of 217975

Saudi Arabia has another reason not to restrict oil output. They can't afford to do so. As OPEC slowly died Saudi Arabia was the only member to make significant production cuts to maintain oil price stability. If OPEC were to be organized today the total number of members would be greatly expanded to include Russia and other producer states. Saudi Arabia now has a large annual budget to keep their population happy, and their cost of oil production has risen significantly as they tap less valuable crude in fields which cost more to produce. The Saud family can no longer afford to be the generous Santa Claus to other oil producers.

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