impact of oil production

OPEC is meeting in Algeria starting today and Saudi Arabia is signalling a cut of 2m barrells a day because of falling oil prices and demand. This is a huge cut if they do it.......but it is also a huge decline in Saudi's income. And it highlights why Saudi Arabia is very keen to get mining off the ground. It needs alternative sovereign income. Near term producers like CGG will be given as much assistance as needed.to fast track to production. CGG is in the right place with fantastic prospects at the right time. And outstanding management indeed!