Russia, Saudi Oilfield Mismanagement Will Bring Back $100 Oil

Today, Russian President Vladimir Putin pledged to cooperate with Saudi Arabia's proposal to reduce oil production in an effort to boost oil prices. Bruce Pile says that Russia and Saudi Arabia may not have as much control over oil production it appears. His analysis indicates that after years of Russian and Saudi mismanagement of their giant oilfields, production could fall enough to push oil back over $100/bbl within a reasonable time horizon for investors.

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