- Crude Oil Trading | August 18, 2015
Saudi Arabia was instrumental in exacerbating the oil slump at the end of last year, when it decided at November’s OPEC meeting not to cut production to support the oil prices. The rationale was that shale producers needed a high price to stay in business. Let the oil prices fall and they’ll go bankrupt – along with those who financed them. It hasn’t really worked. Why?