Who Will Be Left Standing At The End Of The Oil War | OilPrice.com
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Everyone is hurting, some more than others. Venezuela is already on its knees. But even $30 oil isn’t enough to bring the other bigger players down or to end the cold oil war. Saudi Arabia has some $600 billion in financial reserves; Russia is worried enough only to start talking to OPEC; U.S. producers are holding strong and are fairly calm, closely measuring the pace of desperation most recently indicated in the word game over an output freeze.
The variables of the breakeven game favor U.S. shale. But Saudi Arabia won’t give up the cold war path easily because its ultimate goal is to preserve its market share at all costs.