Weekend Oil conspiracy and fundamental updates There is so much being said about the oil price, from ample supply/weak demand fundamentals to conspiracy...

Weekend Oil conspiracy and fundamental updates There is so much being said about the oil price, from ample supply/weak demand fundamentals to conspiracy theories that it is in fact the US and Saudi Arabia working together to force Oil lower for their own geo-political agendas. They both seem to stack up, so for some weekend talking points, I will touch on conspiracy theories, then let your own imagination do the rest. Then our fundamentals. Russia finances 45% of its budget from energy export revenues. Therefore, the fall in the oil price is far more damaging than the sanctions from the US and Europe. It was three decades ago where the decline in Oil drove the Soviet Union in to bankruptcy. Iran, after losing half of its oil profits since 2011 the country is under enormous economic pressure with the low oil price limits Iran's flexibility in negotiations over its nuclear program. The downside of low oil is minimal for both the US and Saudi. The US gas guzzling consumer driven economy loves lower prices at the pump, Saudi Arabia has a handy $450... Read more.. (VIEW LINK)