Thread: The end.

looks like Suadis' talks about low oil price are just talks, their budget shows oil price being $80 per barrel in 2015 - Oil Trades Above $60 on Signs of Saudi Confidence in Rebound - Bloomberg

Originally Posted by hddscan

looks like Suadis' talks about low oil price are just talks, their budget shows oil price being $80 per barrel in 2015 - Oil Trades Above $60 on Signs of Saudi Confidence in Rebound - Bloomberg

My understanding of the Saudi budget, was that Saudi is overproducing in order to deliberately hurt its own enemy Iran, and also Russia, perhaps to please the US. I got the impression that they said they were essentially going to continue doing that, and that they are prepared for the hit that their own economy will take. On the news it said somthing about how they were planning to use their "extensive currency reserves" during 2015.
So I heard that and felt really bad for Russia and Iran. Don't know what to believe now.