The market misunderstands the Saudis (US shale is a furphy, a ruse that the Saudis like Al-Naimi r mentioning to throw the scent off the dogs). It is ISIL or Daesh that they r worried about (if ISIL gets Basra & its oil, it could move on & takeover Kuwait & its oil (Obama is unlikely to do anything, he has 2 years left & is not (& doesn't want 2 b a Bush)). With all that oil, ISIL could destabilise the Middle East & GCC countries like noone has ever done b4. Saudi is more worried about self preservation IMHO, they would not regard US shale as posing as close a threat as what ISIL is doing to them IMHO but pls DYOR.
Oil $47.18US in early trade, page-96
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Last
$7.94 |
Change
0.000(0.00%) |
Mkt cap ! $25.78B | |||
| Open | High | Low | Value | Volume |
| $7.97 | $7.99 | $7.93 | $47.72M | 6.006M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 67051 | $7.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.95 | 2000 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| STO (ASX) Chart |