Quotation: "Spike or glut? Two very possible—and radically different—scenarios for the future price of oil"
Published in Quartz
In recent interviews, prince Mohammed has suggested a belief that oil is becoming a much less strategic commodity, and that Saudi Arabia must diversify. His decrees illustrate his determination to move the kingdom away from what he considers an unreliable oil economy.
Some independent analysts think he’s right.
“A few years from now, oil speculation will be as ‘sexy’ as speculating on wheat, paper, or corn,” said Omar Al-Ubaydli, a fellow at the Mercatus Center at George Mason University.
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