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To: elmatador who wrote (108984)12/16/2014 4:01:05 AM
From: clochard  Read Replies (2) | Respond to of 218431
 
The Saudis are using junk mathematics in their calculations. Fracking will continue to be developed world wide as a hedge at least, so the Opec people are simply giving away oil at a discount. They should cut production because they would earn at least the same revenue (volume x price) while fracking sources deplete. Also, a crash in oil prices might cause a crash in the financial markets and hurt them even more.