Andy Hall: Saudi "Rockefeller" Style Plan on Oil Could Backfire

The Saudi’s have taken a page from J.D. Rockefeller’s “book” and they are currently giving oil producers a “good sweating,” hoping that low prices will force high cost producers go out of business, according to a recent strategy document from Andy Hall’s Astenbeck Capital reviewed by ValueWalk. Andy Hall on Saudi’s oil strategy The most obvious target of the Saudi Arabia’s aggression – the marginal U.S. shale oil players, the report noted. Credit default swaps on some of the oil producer’s bonds, insurance policies used to hedge in the event the companies fail, have soured recently as share prices for…