Posted by N00b > 2016-02-13 14:58 | Report Abuse

Well, to get an indication, look at their stock market which since the beginning of 2015 is up by more than 320%. Yeah... inflation.

http://s27.postimg.org/9ro583tw3/venzuala.png

Posted by N00b > 2016-02-13 15:23 | Report Abuse

Although it has Veto power, production from Saudi Arabia is only about 1/3 of OPEC's production. Not everyone has the luxury of $600+ billion in reserves. A chain is only as strong as its weakest link.

Posted by cklim13 > 2016-02-13 15:36 | Report Abuse

US shale oil players will not follow the production cut.
If Opec cut production US shale oil players will capture their market share.
Saudi started this price war to force out US shale oil players.
If Saudi cut production, they admit their defeat.