Guy Hands’ View

Archive for March, 2015

Saudi Arabia won’t cut production – because it knows the oil age is ending

There have been many explanations, including on these pages, for why Saudi Arabia has not cut production to shore up the price of oil. These range from the use of the oil price as a foreign policy weapon – whether to wage economic war against rivals Iran, or to help their US allies bring Russia into line – to the belief that the Saudis are protecting their long-term market position by making the exploitation of shale gas and tar sands unviable. Read more.