Got it! Tdos is a top OPEC official! lol. OK...maybe not... Twins separated at birth?
Clearly, this prediction bugs the House of Saud as much as Tdos. At least they have the balls to go on record an aren't anonymous trolls crawling the collapse blogosphere.
So how far will the Towel Heads go to make sure this doesn't happen? Well, all they need to do according to the IEA is keep the price down by $5 and they'll be able to sell as much as they want! So, are the Saudis ready to take it in the shorts for Team Oil? start a price war and undercut the Ruskies and the Frackers.
Back in the day when Ronald Rayguns ran the show, the Saudis pumped hard enough to bring down the old Soviet Union. Hell, if they make the price low enough, they could hold off the recession!
Sadly of course, this is not 1980 anymore and the Saudis cannot single handedly flood the market with cheap oil. Basically all suppliers have to pump full out to meet demand. When the market price drops lower than it cost the producer to bring to market, they'll leave it in the ground or in storage on a tanker. So as the price drops, one by one they'll drop out, the most expensive wells first to shut down.
One thing is for sure, the House of Saud does NOT like Peak Oil talk.
https://oilprice.com/Latest-Energy-News/World-News/OPEC-Slams-IEA-for-Dangerous-Forecast-of-Peak-Oil-Demand-by-2030.html
RE