This Is Why Saudi Arabia, The United Arab Emirates And Kuwait Decided To Crash The Price Of Oil

Grant Smith, Bloomberg: How OPEC Weaponized the Price of Oil Against U.S. Drillers



WNU Editor: This is one of the best analysis and explanations that I have read on the "how and why" the "rich members" of OPEC decided to crash the price of oil. They have done this before (in 1986) .... and it gave them a significant market share (plus a few trillion dollars) for the next 25 years. This Bloomberg post is a must read. Predictions .... these OPEC countries are not going to relent .... expect hard times in the U.S. oil patch and to those who service them .



Update: Saudi prince: $100-a-barrel oil 'never' again -- USA Today