In a 2,000-word essay, discuss whether Saudi Arabia’s [and thus OPEC’s] decision in November 2014 was founded on logical reasoning, or was a strategic error of enormous proportions. You should discuss the prospects for the country if oil remains around $60 a barrel, and the effect on Saudi Arabia’s foreign reserves, and their social spending. Also, reflect on whether conventional oil production cuts would be likely to cause a return to $100 a barrel oil prices. Your own interpretations and conclusions from your researches are fundamental. Supporting your own arguments in a robust and objective manner will qualify for better marks than a simple restatement of the data and opinion found in the research.
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