27 Dec '14, 5pm

#peakoil Saudi Arabia Ready For $20, $30, $40 Oil: Brent crude and West Texas Intermediate (WTI) fell 2 and 3....

Brent crude and West Texas Intermediate (WTI) fell 2 and 3.3 percent respectively to start the week and Saudi Arabia is prepared to go much lower in a bid to trim the fat. Oil Minister Ali al-Naimi said as much in an interview with the Middle East Economic Survey on Monday. Naimi defended the Saudi position and made clear that OPEC nations will not cut production at any price. His comments dismiss any notion of collusion with the United States and spell trouble for producers everywhere.

Full article: http://peakoil.com/consumption/saudi-arabia-ready-for-20-...

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