Subject: Re: OXY
Great analysis and commentary, Texirish!

I met a person with Middle East relationships last week who said Saudi Arabia was/is buying oil from Russia at 20% off the world price. I said why they have oil for near zero cost? Their answer was Saudi Arabia has internal consumption energy needs and it is beneficial to use cheaper oil for those needs while preserving their oil reserves for sale at higher prices. Sounds like practical arbitrage to me. It also sounds like a form of politically triangulating friends and foes via energy purchases.
Uwharrie