Saudi foreign reserve now stand at 700 B and ran deficit at 45B expect to increase deficit increase to 47-50 this and year after even with previous oil price so that amount doesn't last...As I said the Saudi regime legitimately is hanging on the continue providing the existing social services. With high level youth unemployed + 80% OIL dependent GDP + ISIS is marching on their door step. They are living on borrow time with low oil price continue. The US is on the opposite low oil price only make them stronger, as best low oil price would fasten the consolidation of the oil industry.
I don't think this is an equal fight, the Saudi just don't have the staying power.
AZZ Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held