RIP King Abdullah
Out of context: Reply #23
- Started
- Last post
- 24 Responses
- GeorgesII0
https://www.corbettreport.com/th…
In the early hours of Friday, January 23rd, Saudi Arabia’s King Abdullah bin Abdulaziz died of complications from pneumonia. He was 90 years old, and was just shy of reaching the 10th anniversary of his accession to the Saudi throne in August of 2005.
From the perspective of global oil geopolitics, the death of the leader of one of the world’s top oil exporters could hardly have come at a more sensitive time. Oil prices have plummeted by half in the past six months, with some predicting prices will plunge even lower and remain there for some time. Many have fingered the Saudis as the culprit for the fall in prices, but even the infamously spendthrift oiligarchs of the House of Saud are feeling the pinch as low oil prices start to eat into their reserves. Now a large question mark hangs over not just the future of Saudi Arabia, or even the global oil market, but the current monetary order itself.