In the last article they spoke of how Opec is like a Central Bank for oil. But, because it is not reducing output, (like the oil leader it has been in the past), it likely could screw up the whole economy of the world within 4 to 5 years. $200 a barrel oil that stays that price.
My thought is that Saudi Arabia (the major producer in the middle east) is likely mad at Europe and the United States because they won't just wipe out ISIL (ISIS) completely from the Middle East right now. As a direct result of this Saudi Arabia is building (A GReat Wall) similar to the Great Wall of China against ISIL only very high tech along the Iraqi border with Iraq.
The are very upset. Because both ISIL and Iran are undermining the Saudi Government. The government of Saudi Arabia is an oligarchy (rule by the richest). So, the people of Saudi Arabia individually often donate to ISIL because of their being Wahabi Sunni Muslim which is very strict and fundamentalist. However, ISIL wants to overthrow ALL Sunni and Shia governments now in the Middle East. The government that presently gives them the least pain is Turkey for a variety of reasons. The first being that Turkey wants Assad to go away.
However, Saudi Arabia and ISIL are at complete odds even though not completely ideologically. I suppose you could say that ISIL and the Saudi Arabian Government are about as close in ideology as the Democrats and the Republicans here in the U.S. So, similar but no cigar in the end. But, both want somewhat similar things compared to countries like Iran which both ISIL and Saudi Arabia wish to destroy completely.
So, is Saudi Arabia and OPEC taking revenge on the U.S. and Europe long term by reducing oil prices in the long run?
The answer can only be now: Maybe.
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