Saudi Arabia plan to hike oil prices will BACKFIRE & boost US shale producers, say experts

saudi arabia oil prices

Saudi Arabi’s OPEC plan to raise oil prices could fail say experts [GETTY]

 

SAUDI Arabia’s waning grip on oil prices could loosen further if it sticks to a plan to limit supply in a desperate bid to drive up demand, according to experts.

Naeem Aslam, chief market analyst at ThinkMarkets, said: “In our eyes, OPEC is not the superpower it used to be and it is the US shale oil producers who changed the game. Continue reading