Is Saudi Arabia Going Bankrupt?
How Much Oil Is Left On Earth? http://bit.ly/1keNKtG Why The U.S. And Big Oil Are Fighting Over A Chicken http://bit.ly/1XCxQb5 Subscribe! http://bitly.com/1iLOHml With fluctuating...
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In October 2015, the International Monetary Fund released an economic outlook report, stating that current cheap oil prices could lead to economic downturn in the Gulf Coast. As the world’s largest producers of oil, this slowdown is predicted to drain Saudi Arabia’s cash reserves within five years. So, we wanted to know, is Saudi Arabia headed for economic collapse? Well, the problem initially began in 2014. Economists noted that China’s demand for oil decreased that year, and as the second largest oil consumer in the world, this began a slow global drop in oil prices. Brazil, Russia, and India also lowered their oil intake, accounting for four of the top 7 oil consumers. At the same time, the United States and Canada doubled down on their own production, using...
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In October 2015, the International Monetary Fund released an economic outlook report, stating that current cheap oil prices could lead to economic downturn in the Gulf Coast. As the world’s largest producers of oil, this slowdown is predicted to drain Saudi Arabia’s cash reserves within five years. So, we wanted to know, is Saudi Arabia headed for economic collapse? Well, the problem initially began in 2014. Economists noted that China’s demand for oil decreased that year, and as the second largest oil consumer in the world, this began a slow global drop in oil prices. Brazil, Russia, and India also lowered their oil intake, accounting for four of the top 7 oil consumers. At the same time, the United States and Canada doubled down on their own production, using...
