Do we have an oil chicken race ahead? A week ago I wrote my story “ The falling oil price may presage a future recession ”. Along the same lines Gaurav Sharma has contributed a story on Forbes with the title “ Saudis Vs Oil Markets: Who’s Playing Whom ?” I like to high light these part of his story: “While the world was focused on Brent and WTI price dips, the OPEC Reference Basket of twelve crude oils from its member countries slipped from $89.37 on 7 October (just days after the Saudi move) to $81.67 per barrel on 23 October. Popular discourse about Saudi motives seems to be that oil minister Ali Al-Naimi does not want to see a repeat of the 1980s when cuts in production saw his country lose global market share.” “Within OPEC, only Kuwait (needing a breakeven price of $75), Qatar ($71) and […]