The story of the night was simple enough, the Saudi’s want $60 oil, from the WSJ:
OPEC’s biggest oil producer Saudi Arabia now believes oil prices could stabilize at around $60 a barrel, a level both it and other Gulf producers believe they could withstand, according to people familiar with the situation.
The shift in Saudi thinking suggests the de facto leader of the Organization of the Petroleum Exporting Countries won’t push for supply cuts in the near-term, even if oil prices fall further.
