Re: Obama’s challenge- OPEC, the Saudis, and the Russians

[Skip to the end] (email exchange) Yes, that’s the issue when there is more excess capacity than any one producer can afford to ‘allow.’ The excess production capacity (until recently) has been under 2 million barrels per day. This has allowed the Saudis to be ‘price setter’/swing producer as all other producers could produce flat out, and the [...]