Quote:
Originally Posted by jamesqf
Doesn't even address the main reason: ISIS. They control a good bit of oil, which they can sell for whatever they can get. Since they stole it, and can keep on producing it with gunpoint labor, they don't have to worry about making a profit on investment: like any other thief, they sell for whatever they can get.
|
No.
ISIS are estimated to be making $1-3 million dollars a day. A lot for a terrorist organisation. Not a lot for a state. Nothing compared to a major oil producing nature. ISIS produces maybe 10,000 bpd at the moment, down from 80,000 in the summer.
Major producers like Saudi and Russia make 10,000,000 bpd, each. And it's good quality stuff, compared to the poorly refined stuff from ISIS refineries.
Quote:
|
Originally Posted by Niky
Saudi Arabia for the long squeeze. Curtail new fracking operations with low prices, just to ensure market share stays stable.
And keeping prices low just happens to hurt ISIS and Russia, too, which is a bonus.
|
Bingo.