Originally Posted by
SalesServiceGuy
Today Saudi Arabia, the lowest cost oil producer in the world reached a tipping point and decided to go on an all out offensive against Russia and the USA to cripple their oil producing industries.
Just yesterday the USA announced record breaking blow-out exports of oil to China. The US really needs oil to be priced well above $40.00 per barrel to be profitable. Today it was as low as $27.00 per barrel.
Saudi Arabia has the capability and resources to sell oil at this level indefinitely and could eventually force many US producers out of business.
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