Getting directly to the point: why is Saudi Arabia, perhaps the major contributor to the continuing fall of oil prices pumping more and more oil, while losing a huge amount of revenue in the process, apparently “cutting off their nose to spite their face”?
Some say they are doing it to hurt Iran, others to cut investment in fracking …
In my opinion it could be quite simple: the kingdom is in real danger of being destabilized by the Islamic State (ISIS) and the “caliphate’s” main financing comes from selling bootleg oil.