Originally Posted by Pooka

In any case... I hear the Saudis are none too happy with the drilling that is taking place in the US and are saying they might cut production to drive the price of oil to $85 a bbl. and keep it there. They are welcome to do this as it will do nothing but keep the price of oil stable for years to come. Even if Iran cuts off 100% of their exports, also known as cutting off their nose to spite their face, the Saudis could take up the slack in about three days.

I buy a lot of gasoline because I love to travel by car, so stable and lower prices are fine by me!

UPDATE 1-U.S. natgas rig count slips 1 to 353 -Baker Hughes | Reuters