Bogota Free Planet Comments
The Saudi Dilemma: To Cut Or Not To Cut
Posted by BFP Staff on Dec 4, 2018 at 09:27 AM
Kemp wrote, "The kingdom probably needs to keep several hundred billion dollars'.
By Irina Slav for Oilprice.com
To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oil prices. At the time, it worked because everyone was desperate. Now, many OPEC members are both desperate while not yet recovered from the 2014 blow. Saudi Arabia is not an exception.
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