The Oil Wars Heat Up: Russia, Iraq Steal Saudi Market Share While Oman Blasts OPEC As “Irresponsible”

Monday, November 9, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
11/09/2015

Last week, in the wake of S&P’s downgrade of Saudi Arabia and an IMF report which suggests that a number of Mid-East producers will be broke in five years if oil prices remain where they are today, we brought you, i) an in-depth look at Riyadh’s financial situation, and ii) a glimpse at where exporters stand in terms of breakeven prices and budget deficits.

We encourage you to review the full account of the Saudis’ situation as Deutsche Bank does a nice job of illustrating what is becoming an exceptionally tenuous scenario, but we think it’s worth reposting the following two graphics here as they serve to underscore the deepening fiscal crisis:

The Rest…HERE

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