IRAN: Saudi Arabia Is Making A 'Serious Mistake

[MarkusS]

loI

If oil was in hands of Europe they sold it at least 300 dollars per barrel. Unfortunately the idiot rulers of GCC are burning Islamic wealth. Even the tin barrel is more expensive than 50 dollars.

Tell me why i would profit from higher oil prices? The price now is perfect for us european consumers. I love it. The money i safe can i use for other things. Its good for europe.

 

[Hussein]

Tell me why i would profit from higher oil prices? The price now is perfect for us european consumers. I love it. The money i safe can i use for other things. Its good for europe.

you save it to buy chinese made products . great.

 

[Chinese-Dragon]

you save it to buy chinese made products . great.

Low oil prices, low product prices, it's good for consumers, and good for economic growth.

Who wants high inflation? No one.

Iran could have stop all their oil production and I can bet oil price will go up.

I think its quite ridiculous to put the blame on Saudi. If oil price goes up becos you cut down your oil production then you are back to square one for profit.

No countries will try cut down on oil production at this moment and trying to ask one country to cut down oil production for the sake of others is a tall order and even unreasonable.

Exactly, how can they blame Saudi for this?

Why would Saudi cut their own production, and lose their own market share?

And Saudi has more currency reserves than any other oil producer (by FAR), they can afford low oil prices for longer than any of their main rivals.

This is a game of "who blinks first", and it's the oil producers that have poor finances that will be forced to blink first.

Saudi will last the longest, and they will take up the profits. That's how business works.

@al-Hasani

 

[Gufi]

And Saudi has more currency reserves than any other oil producer, they can afford low oil prices for longer than any of their main rivals.

Saudi Arabia's stance is very clear that they will not reduce output and being dominant over other middle eastern countries it is probable that there will be no major reduction in oil production and what reduction there will be will be supplemented by these countries.
I think that not only Saudi is defending its market shares but it is beneficial for the oil giants in US who are buying struggling companies and at the same time it is taking down most American adversaries economically.
And Saudi has a $750bn war chest just for occasions like these

 

[Hussein]

Low oil prices, low product prices, it's good for consumers, and good for economic growth.

importing means destroying jobs in Europe . and you can see it . unemployment is high. and will increase if they go on with decreasing their productions.

 

[Chinese-Dragon]

And Saudi has a $750bn war chest just for occasions like these

Saudi has been good with their finances, they have the 3rd largest currency reserves on Earth, only behind China and Japan.

No other oil producer on Earth can afford to match Saudi in the game of low oil prices.

While other oil producers will be going bankrupt, Saudi will still be going strong.

They were good with their finances, thus they deserve to claim the profits at the end of the day. That's how the market economy works.

This is business, not charity. Oil producers with poor finances (Nigeria being the worst) have only themselves to blame.

 

[Steve781]

Tell me why i would profit from higher oil prices? The price now is perfect for us european consumers. I love it. The money i safe can i use for other things. Its good for europe.

Not good for Britain, Scotland in particular. I'd imagine Norway is struggling too.
The US is also shooting itself in the foot with its own large oil reserves.

 

[Daneshmand]

loI

If oil was in hands of Europe they sold it at least 300 dollars per barrel. Unfortunately the idiot rulers of GCC are burning Islamic wealth. Even the tin barrel is more expensive than 50 dollars.

300 dollars? That would be cheap. They sell Coca Cola which is 99% water for 500 dollars a barrel.

 

[MarkusS]

you save it to buy chinese made products . great.

How do you know what i safe my money for? Currently i safe for a seychelles, mauritius cruise with my girl. We pay less for gas is good for economy here. In italy people profit very much from it.

importing means destroying jobs in Europe . and you can see it . unemployment is high. and will increase if they go on with decreasing their productions.

germany has a record low unemployment rate. So?

 

[Daneshmand]

importing means destroying jobs in Europe . and you can see it . unemployment is high. and will increase if they go on with decreasing their productions.

That is a misconception. Europe along with Western civilization is in the middle of another transition to a new era. Just like Industrial revolution created industrial jobs, the Western civilization is now moving towards a truly science and technology based society, where it is the product of mind that will be exported while the rest of the world will just produce them dirt cheap at cut-throat competition to keep the Western designer happy.

We see that with all products from electronics to cars. The unemployment rate, that you are referring to is mostly for those people in West that are being eliminated from this new economy as they are being forced either to move to lower socio-economic segments or learn the tricks of this new economy. The same way the Western saddle makers of early 20th century were eliminated as car manufacturing picked up.

 

[Hussein]

How do you know what i safe my money for? Currently i safe for a seychelles, mauritius cruise with my girl. We pay less for gas is good for economy here. In italy people profit very much from it.

i didn't expect you were speaking about your own life and only yours. lol.

of course i understand you save money with oil prices down. didn't need to be Einstein to get it.
but Europe (not specifically you or Germany) is suffering very much of a big deficit of production: the cheap workers in China produce the goods that invade the European market and destroyed many companies. Maybe soon the tendency will reverse and more and more European companies will produce again... hope so.

germany has a record low unemployment rate. So?

speaking of Europe.
you have a good salary and a good job it seems. and it is very fine, i am happy for you.
but here in Europe i could see lot of unemployments and people suffering terribly from the crisis.

saving Europe is much more about Europe leader in few technologies and importing less ,
than just oil prices decreasing. see in France three positive factors helped them: USA growth, old decreases, and another internal one. ... still they only get a very very small growth.
for me it shows that oil price is just a very very very little factor of growth take care and don't take it personal.

 

[OTTOMAN]

I support low oil prices... and quite happy with it.
However, people would curse Saudis either way or maximum will go to Iraq and Syria to release any further frustration.

 

[Pangu]

Most oil producing countries have increased output, supply increases but most economies are doing so well, Europe not so well, Japan not so well, even China has slowed down, so price drop is normal. If the Saudi increase price, others may not follow then they will lose market share. I doubt they dare to. This is an opportunity for them to break the competition, including Iran & Russia. Hard lesson is, don't put all your eggs in one basket, diversify the economy to be safe.

 

[atatwolf]

"If Saudi does not help prevent the decrease in oil price ... this is a serious mistake that will have a negative result on all countries in the region," Abdollahian said in an exclusive interview on Wednesday evening.
ider

Not at all. Cheap oil prices are good for everybody other than Iran and Russia who's economies are totally reliant on energy revenues. It is not the world's mistake that you made your economy dependent on oil and gas revenues. This is only the tip of the iceberg. The US is going on energy independence(producing own energy). They don't care. Turkey will provide energy to Europe. Iran is left in the cold and now is making silly statements.

 

[ArsalanKhan21]

Price fluctuation is bad for the economy. The oil companies always increase the prices when the wholesale price of oil increases but they do not always reduce the prices at the pumps when price drops and also not at the same rate as the wholesale price. Saudi Arabia seems to have Syria and Iran focused policy ignoring other oil exporting countries.