Saudi doesn't need oil above 100? with budget deficit last year...

Saudi doesn't need oil above 100? with budget deficit last year at 40 billion and projection of 45+billion this year and Oil revenue made up of almost 80% of the GDP, and face with high youth unemployment. Yeah right I will see how long they can say that they don't need that oil price. The whole ruling family legitimacy is hanging on the ability of continue providing social services and they can't do that without the massive oil dollars, cut to all that I will see how long before the youth joining ISIS crews across the border in Iraq.

Saudi is not the only one in that dilemma, in fact all the big oil producers like Russia, Venezuela, Nigeria, Iran, Iraq and their ruling class legitimacy are depending on continue maintain the social service from the oil dollar. Oil price fall and stay low can create deflate and that s not a good idea for countries like China either the bulk of their export earn less. So the only winner is the US and one again that will catapult the US economy back into the driver seat of the global economy. So the US get to take out all of their sources of irritate and pain in butt in one hit.

Well the oil price low will jump start a lot of weak economies, drive more spending hence oil demand will return.