By reducing oil prices, Saudi Arabia is waging a secret war against Russia and Iran, according to political analyst Bassam Tahhan. In an interview with RT, political analyst Bassam Tahhan said that Saudi Arabia and the other countries of the Gulf Cooperation Council are trying to force down oil prices in order to harm Iran and a number of other oil-producing countries, including Russia. “A secret... 

Falling oil prices are emptying Saudi Arabia’s state coffers as the country grapples with its military and social needs, according to the French newspaper Les Echos. Plummeting oil prices have ridden roughshod over the state coffers of Saudi Arabia, which is currently trying to cope with its military and social needs, journalist Yves Bourdillon wrote in an article which was published by the... 

Oil prices have plunged more than 50 percent since June last year. Oil prices have slumped even further to reach six-year lows, amid oversupplies by certain countries and a sluggish global economy. The US benchmark West Texas Intermediate (WTI) for February delivery saw an 18-cent drop on Tuesday, selling at USD 45.89 per barrel on the New York Mercantile Exchange. It was the WTI’s lowest close since... 

Who is to blame for the staggering collapse of the price of oil? Is it the Saudis? Is it the United States? Are Saudi Arabia and the U.S. government working together to hurt Russia? And if this oil war continues, how far will the price of oil end up falling in 2015? As you will see below, some analysts believe that it could ultimately go below 20 dollars a barrel. If we see anything even close to... 

Thousands of recently highly paid workers have been laid off after the oil price plummeted 50 percent in 2014. At least four American oil-producing states are already facing budget problems due to decreasing oil revenues. The price plunge has affected petroleum production in all oil-extracting countries, including the US. Currently cheap fuel is still believed to be providing an overall boost to the... 

The U.S. Department of Energy recently released a message stating that in 2012 oil production in the country will increase by seven percent. America is opening up its resources and reviewing its energy policy, experts say. If the production of crude oil and other liquid hydrocarbons continues to grow at the same pace, in a couple of years the United States will catch up to the indicators of Saudi...