The Saudis Are Losing Their Leverage over Oil Prices
February 06, 2015 at 15:36 PM EST
In an oil market version of a game of chicken, Saudi policymakers are trying to make U.S. producers blink first. And it's starting to work. U.S. rigs are being brought offshore and drilling projects are being shelved. This will have an impact on the supply side in short order. By this summer, oil prices may be back to a range of $65 to $70 a barrel. The post The Saudis Are Losing Their Leverage over Oil Prices appeared first on Money Morning - We Make Investing Profitable .