Betting It All: How Saudi Arabia Is Gambling with Oil
Wednesday, 4th February 2015
When the price for Brent Crude reached its peak in June 2014, few analysts or experts would have believed the longest and biggest oil boom in history was coming to an end. Or that prices would tumble to less than half their current price within six months. In the boom years, markets and experts had come to consider hundred-dollar oil as the rule, rather than the exception. Studies in the early 2000s on projected oil prices for 2015, when a barrel was expected to cost about $20, seemed laughable to say the least.