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| Arabia | |
| Moody’s downgrades Saudi Arabia on lower oil prices | |
| 2016-05-15 | |
Soddy Arabia ...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... ’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices. Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar ...an emirate on the east coast of the Arabian Peninsula. It sits on some really productive gas and oil deposits, which produces the highest per capita income in the world. They piss it all away on religion, financing the Moslem Brotherhood and several al-Qaeda affiliates... Saudi Arabia is the world’s largest oil exporter. Moody’s cut the country’s long-term issuer rating one notch to A1 from Aa3 after a review that began in March. Crude prices fell from more than $100 in mid-2014 to under $30 a barrel in February, although they have recovered into the mid-$40s. Benchmark international crude settled Friday at $47.83 a barrel. "A combination of lower growth, higher debt levels and smaller domestic and external buffers leave the Kingdom less well positioned to weather future shocks," Moody’s said in a note. Moody’s lowered Oman to Baa1 from A3 and Bahrain to Ba2 from Ba1. The ratings agency did not downgrade Kuwait, Qatar, the United Arab Emirates or Abu Dhabi, but it assigned a negative outlook to each. Oil prices slumped because of production that grew faster than demand. Surging production from shale operators in the United States contributed to the glut. So did the Organization of Petroleum Exporting Countries, which decided in November 2014, several months after prices began falling, to continue pumping rather than give up market share. | |
| Posted by:trailing wife |
| #3 Ah yes let's not revel in our friends misfortune, that would be RONG! Let join together as one in the spiritual sense and pray together for a higher price on war and an even......... LOLOLOLOLOLOLO, Amen |
| Posted by: Shipman 2016-05-15 15:51 |
| #2 Let's hope this is the new normal. |
| Posted by: Iblis 2016-05-15 12:55 |
| #1 Moody's also downgraded Venezuela from "AYFKM" to *snort!* |
| Posted by: Frank G 2016-05-15 11:46 |