Yes, crude oil is still in headlong retreat from its summertime peak. But that doesn’t mean that all petrostates are trembling.

Source: www.foreignpolicy.com

"But Saudi Arabia and its neighbors have plenty of cushion. Riyadh ran budget surpluses for years, has huge currency reserves, and has almost no debt. Ninety-dollar barrels are obviously not as profitable as $115 ones, but it won’t force any drastic changes in Saudi policy."

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