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New Saudi king seen holding line on OPEC policy to keep oil output high

Новый король Саудовской Аравии не будет снижать добычу нефти

After the death of Saudi King Abdullah, the world oil price is slightly raised, but his successor Salman Ibn Abdul Aziz al Saud said that he would continue his predecessor's policies. Thus, the oil markets are not expecting things to happen that could be caused by decreased production of Saudi oil.


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The OPEC policy has been not to interfere with the market currently because the market is adjusting to a new reality. The reality is in the form of an abundance of oil and new supplies. We are yet to work out the supplies. It is also in the form of a shrinking market-share, part of this caused by an economic global slowdown, a shift in consumption, and a collective change in human behaviour.

This has not changed even with The passing of King Abdullah ~ May He find eternal peace ~


Bucky Breen 

Saudis doing us favor with our frackers spoiling our water and causing earthquakes just to make a buck at our expense.
Fock them.
Let our frackers go under and good riddance.


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