Oil prices: Saudis on verge, but don’t have all the trump cards

The situation on the oil markets is nearing a point beyond which the Saudis can no longer sit on their hands and eat into their depleting cash reserves, Gal Luft, co-director of the Institute for the Analysis of Global Security (IAGS), a Washington based think tank focused on energy security, and a senior adviser to the United States Energy Security Council believes.“How far are we from this point? I believe months, not years,” Luft told Trend July 21.However, when it comes to oil prices the main wild card is not what the Saudis will do but what will the Libyans do, Luft believes.

Source: Oil prices: Saudis on verge, but don’t have all the trump cards

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