They have plenty of cash and 650 plus mill on their revolving credit line.
Sentiment: Strong Buy
Some people are comical.
IMO this is about the Saudis being #$%$ off because US government has stopped the sanctions against Iran. The Saudis are doing this to try to hurt Iran more than anything else.
Saudis and the rest of Opec will be forced to cut production. Plus this is heavy season for consumption.
Does anyone know what their cost of production is? I was hearing around $35.00. Can anyone confirm?