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08-06-2015, 01:41 PM
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Saudi Arabia may go broke before the US oil industry buckles
Ambrose Evans-Pritchard
9:59PM BST 05 Aug 2015
It is too late for OPEC to stop the shale revolution. The cartel faces the prospect of surging US output whenever oil prices rise
"The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn"
Saudi Arabia may go broke before the US oil industry buckles
Ambrose Evans-Pritchard
9:59PM BST 05 Aug 2015
It is too late for OPEC to stop the shale revolution. The cartel faces the prospect of surging US output whenever oil prices rise
"The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn"