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Fair price for oil is $130 & will be, despite Saudi attempts - World Bank consultant RT — SophieCo

With oil prices at their lowest point, nations relying on oil are suffering - and it's not just Russia and Venezuela. Even OPEC members are in trouble, despite having the power to change the balance on the market. But they have been unable to reach such an agreement - at least up until now. With rumors of OPEC finally deciding to cut production, will the oil market rise again? And why are Saudi Arabia and the Gulf nations, now being forced to cut spending, persisting in their position on the issue? We ask international an oil economist and a World Bank consultant. Dr. Mamdouh G. Salameh is on Sophie&Co today.