re: #2 JeffFX

And they can easily lower prices while making plenty of money - Saudi crude is “light and sweet” and therefore is cheap to process, and is cheap to extract (thought it doesn’t quite pump itself out of the ground like it used to, the Saudis are having to inject water and CO2 now, but it’s still nowhere near the expense of offshore rigs or the techniques used to recover unconventional deposits like fracking, strip mining, solvent injection etc)