>Will Saudi Arabia Not Cut Production If The Russians Do Not Cut?First of all, why did we decide not to reduce production? I will tell you why. Is it reasonable for a highly efficient producer to reduce output, while the producer of poor efficiency continues to produce? That is crooked logic. If I reduce, what happens to my market share? The price will go up and the Russians, the Brazilians, US shale oil producers will take my share.
So This Is A Policy To Defend Market Share?It is also a defense of high efficiency producing countries, not only of market share. We want to tell the world that high efficiency producing counties are the ones that deserve market share. That is the operative principle in all capitalist countries. (CONTINUED - 2001 WORDS)