Quote:
Originally Posted by GP_Matt
That chart is the cost to balance the budget, not the cost to extract oil. They aren't going to shut in wells because they are running a budget deficit.
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Saudi Arabia has 745 billion in reserve assets. The Saudis can outlast any country or major oil corporation.
http://mobile.bloomberg.com/news/201...iscipline.html
While Russia is collapsing as we speak the Saudis are sitting pretty.