Saudi Arabia Threatens To Flood Oil Markets If OPEC Members Don’t Cut Output
Are we watching the final death throes of OPEC? This smacks of open despair on the part of the biggest boy in the room. But just imagine Saudis would deliver on their threat. Imagine they flood the market and push the oil price down to USD 40 or less. this only means that whatever compliance was there by anyone else now completely goes out of the window as less cash per barrel means more barrels in order to bring in whatever they can. All OPEC members are hurting. Heck, even rich oil producers such as Norway feel the sting. OPEC may hang on for many more years but its a spent force.
OilPrice.com 
