14-12-14, 10:41 PM
I met an economist the other day - lecturer in Uni- and he reckons that the price may stay low for a while. His theory - the Saudis are trying to make it uneconomical to frack shale for oil and gas. The process is very dear and if the price of oil doesn't make it worth while they will have to stop. The US is self sufficient for oil due to fracking so this is seen as a big threat to OPEC. How much is behind this? Who knows