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> If the Saudis and Iran stop pumping oil then all developed economies will be in the shit. Oil is 70% of KSA export earnings. If they stop selling, they are a
by rad_gruchalski 5y ago
> If the Saudis and Iran stop pumping oil then all developed economies will be in the shit.
Oil is 70% of KSA export earnings. If they stop selling, they are also in shit. Iran is 5% of worldwide supply, biggest buyer is China.
- LatteLazy 5y agoSaudi cut their pumps last year didn't they? After 40 odd years of OPEC prices they can afford to just pour money out like a fire hose for a long time...