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Thread: USA wants Saudi Arabia to cut their oil production

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    Default USA wants Saudi Arabia to cut their oil production

    USA wants Saudi Arabia to cut their oil production... but USA doesn't want to cut their expensive shale oil production ( they propose to cut 10% of Texas oil production that is 500.000 barrels ) ...that increased from "zero" to 8 milions barrel in few years...Oil price collapse because new us shale oil production... from almost nothing in 2014 to 8 milions barrel recently..
    Does USA think that Saudi will bend their back ?...

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    Quote Originally Posted by renaissance12 View Post
    USA wants Saudi Arabia to cut their oil production... but USA doesn't want to cut their expensive shale oil production ( they propose to cut 10% of Texas oil production that is 500.000 barrels ) ...that increased from "zero" to 8 milions barrel in few years...Oil price collapse because new us shale oil production... from almost nothing in 2014 to 8 milions barrel recently..
    Does USA think that Saudi will bend their back ?...
    What choice does SA have?

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    Quote Originally Posted by Synapsid View Post
    What choice does SA have?
    Ask Texas shale oil producers what they will face In 2 or 3 months with WTI oil below 35$.....They were in trouble with WTI 50$.....US SHALE OIL IS A PONZI BUSINESS ........WTI TODAY 22.5 $ and can reach 10 $ for a long period......I Think that shale oil will be destroyied if US does not agree with Russia & Opec

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