nothing so recent! We should be +50% energy security right now not -20% rot been going on since 2000 at least! World 'elite' could have been putting hands in their own pockets to make a safer world! I had some monkey from a 'lack of intelligence' organisation blowing smoke in my face for writing that in 2003! All IMHO!
That's it, the Saudi & Iran don't negotiate. They want the higher price, but they are so paranoid of market share.In the long run they are causing themselves a bigger problem. It is a shame as every gets caught in their childish antics.
The positions are Saudi can plug in to two other fields and easily raise production to 12.5 mln bpd through to 2019. Kuwait and UAE would go along with that albeit Kuwait would be squeezed in 2018 then. Russia.is walking a tightrope as Apr/May 2017 it will run out of cash/forex at these oil prices. As to Iran they as usual are playing games with Saudi on the political/religious front. Russia has to support Iran because of its reactor deals. Suspect Russia will crack first. !!
Not a chance imho, they couldnt afford to they are all in a mess its only a matter of time before they start a rescue plan , then when a certain one realises they running out then and only then wil they all decide to cut imho
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