I don't believe your break even point of $100 for Saudi Arabia to produce oil, as I have always been under the clear impression that it is one of the lowest, if not the lowest, cost oil producers in the world. Can you please provide evidence of a break even cost of $100 for Saudi Arabia, as opposed to other oil producing countries?
But, of course, if this price pressure continues, it will be forced to significantly reduce the lavish expenditure on its citizens, which the lower price, presumably, can not sustain.
