Global oil war underway between US-Saudi Arabia and Russia-Iran?
Libya, Iraq, Nigeria and Syria - are in turmoil today, and Iran is hobbled by sanctions./ Neither Moscow nor Tehran will collapse tomorrow. And if oil prices fall below $70 you will see a drop in US production, as some exploration won't be cost effective, and prices could firm up. But have no doubt, this price falloff serves US and Saudi strategic interests and it harms Russia and Iran. Oil export revenues account for about 60 per cent of Iran's government revenues and more than half of Russia's. The price decline is no accident. In an Oct. ...
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