Oil Prices

[peter49]

Saudi Arabia are reported to be concerned over the future price of oil. This is caused by the amount of oil fracking now taking place in America.
The Saudi's are looking to reduce their dependance on oil exports.
This could lead to a price war though I guess HM Government will continue to add their 90%.

 

[vealige]

Lets hope for cheaper fuel for more V8 fun!

 

[AnimMerc]

The Saudi's are looking to reduce their dependance on oil exports.
.

The Oil forms 92.5% of the countries revenue, I understand they are looking into telecoms and power generations.

I don't see how it can be sustainable without the oil.

 

[peter49]

The Oil forms 92.5% of the countries revenue, I understand they are looking into telecoms and power generations.

I don't see how it can be sustainable without the oil.

Yes. Dubai had to move out of oil some years ago as their wells began to run dry. It is estimated that they now have only ~20 years production remaining. While Dubai has evolved into a Middle East business hub and a holiday destination, Saudi is less welcoming to Westerners and will need a culture change to emulate Dubai.