4 ms·
It's not a price war if you're reverting to a competitive market after many years of running a cartel. Unless you dislike a competitive market? The Saudis real
by Riod 11y ago
It's not a price war if you're reverting to a competitive market after many years of running a cartel. Unless you dislike a competitive market?
The Saudis realise that setting a high price allows for artifically high shale investment which would eventually disenfranchise the Saudis. They rather take some pain now than sponsor their own demise.
- varjag 11y agoMy point was Saudi are not some victims of cartel policies. They run it (or ruin it) at their own discretion as the largest member by far. Cartel quotes were never binding them in any practical way.