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Thursday, 12 March 2020

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Iran was already hurting economically and now the bottom has fallen out of oil. If Iran collapses that would be a benefit. American shale oil drillers have been increasingly bought up by major oil companies and any that go under will picked by the majors as well. Existing shale oil operations have already done the initial capital intensive expenditures that are required to bring a new well online. Some wells can just be capped and left idle. The major oil companies are well capitalized as well plus they have numerous other businesses for revenue.

If MbS pushes his luck too far, he may have an accident.

One could make the case that Russia and Saudi Arabia are engaged in "dumping".

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