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by JanSt
2286 days ago
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It's a stupid move, because the tech and reserves won't go away. As soon as prices rise again to levels needed by Saudi Arabia the reserves will be exploited again. Probably they hope that banks give less money and hedges to shale companies, but that won't work long-term. Saudi Arabia may see civil unrest soon as the house of Saud need all the money they can to spend on social welfare to stay in power. |
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There could be investment inertia and reluctance. After all, it's possible that the oil producer companies play the "price war" again.