“For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.” Matt 24:7
One can’t say for sure whether the American-Saudi oil alliance is deliberate or a coincidence of interests, but, if it is explicit, then clearly we’re trying to do to President Vladimir Putin of Russia and Iran’s supreme leader, Ayatollah Ali Khamenei, exactly what the Americans and Saudis did to the last leaders of the Soviet Union: Pump them to death – bankrupt them by bringing down the price of oil to levels below what both Moscow and Tehran need to finance their budgets.
Oil has been a vital commodity and almost all industries begin crumbling and straining if there is a fluctuation in oil prices.
However, the oil producers group and the relevant markets are witnessing a weird phenomena.
Four oil producers — Libya, Iraq, Nigeria and Syria — are in turmoil today, and Iran is hobbled by sanctions. While this could have led to a massive increase in oil prices a decade ago, today the oil prices are falling drastically. Global crude oil prices have been falling for weeks, now hovering around $88 — after a long stretch at $105 to $110 per barrel.
This is not yet translating directly into reduction of prices of petroleum products, but if this trend continues, profits of major oil producing corporations could start plummeting.
The net result has been to make life difficult for both Russia and Iran, at a time when Saudi Arabia and America are confronting both of them in a proxy war in Syria. This is business, but it also has the feel of a war by other means: oil. Read More Here.