Saudi Arabia sends yet another stern warning to suppliers that it would not curtail production:
(http://money.cnn.com/2014/12/22/news/economy/saudi-arabia-oil-production/index.html?sr=twmoney122314saudi1230story)
This bit of news is in In keeping with expectations, and oil prices should fall further, hurting wounded Russia, Venezuela and Iran...
Good news for growth elsewhere. Depressing for GCC stock markets, real estate and expatriates and nationals; and for all oil producers...
In an oligopoly, if one cuts prices, others have to or they will lose market share. This is Baumol's Kinked Demand Curve.
(http://money.cnn.com/2014/12/22/news/economy/saudi-arabia-oil-production/index.html?sr=twmoney122314saudi1230story)
This bit of news is in In keeping with expectations, and oil prices should fall further, hurting wounded Russia, Venezuela and Iran...
Good news for growth elsewhere. Depressing for GCC stock markets, real estate and expatriates and nationals; and for all oil producers...
In an oligopoly, if one cuts prices, others have to or they will lose market share. This is Baumol's Kinked Demand Curve.
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