Saudi Arabia’s Oil Strategy Is About More Than Destroying The US Shale Business

Wednesday, December 17, 2014
By Paul Martin

DEC. 17, 2014

Saudi Arabia may not be aiming at the US in its hands-off policy toward falling oil prices.
At a panel discussion Wednesday hosted by the Overseas Press Club and Control Risks (the latter a global risk consultancy), the speakers seemed skeptical of the idea that Saudi Arabia was refusing to prop up oil prices because it wanted to force American producers out of the market. (US shale basins are among the most expensive sources of oil to tap.)

There may be better political reasons for this move, with a reduction in American shale supply on the market just being the icing on the cake.

The more obvious losers in the current oil climate are Iran and Russia — the former of course being Saudi Arabia’s archrival in the region, and the latter being no great friend of the Saudis’ either.

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