Oil Price War on the horizon?

I thought the KSA break even price was about $20/bbl. I may have old info on that.

 

Thank you for remembering that.

 

Ah okay, I was talking about their cost to make a profit.

 

They're having a pretty remarkable repproachment with Iran right now. The Yemen war is on an indefinite ceasefire as a result, and a permanent peace treaty is likely to follow later this year.

Iran is in the process of reconciling with Egypt as well, and Saudi has led the Arab League to welcome Syria back in. With the close call in the last election, Erdogan will have to make good with his promise to resettle Syrian refugees back in Syria, so Turkey is likely to have a repproachment with Syria as well.

Major, major realignments are happening in the Middle East, and just about all in the direction of peace.

BRICS Debates Expansion as Iran, Saudi Arabia Seek Entry

Here, an article from Bloomberg stating basically the same thing. I linked to GT because it was the latest article I read on the topic. And yes, I do read GT, as well as RT, and Fox News, and I have CNN as my home page, and I subscribe to the NYT, SCMP, and Foreign Affairs. I use internet archives to access most other pay walled articles (e.g. Bloomberg, FT, Asia Times premium articles). For Reuters and Foreign Policy I just open them in incognito window.

Every news outlet has a "lean", the only way you can get close to the truth is to read as widely as you can, and read every article critically whether it's from the NYT or from GT. I would never dismiss an article just because it's from XX news outlet, and I suggest you don't either lest you feel more comfortable living in a cocoon.

As for the BRICS expansion, I think Saudi is pretty high on the list. They'd be the first Middle Eastern country. The BRICS bank just admitted Argentina, so it seems possible that Argentina may be admitted as well to assuage Brazilian concerns that BRICS may become too Asia focused.