this was largely led by
venezuela, venezuela does not
have a huge accusation to
weather these prices.
their economy is a deep
crisis.
so they need to see the price
of oil go up.
but saudi arabia has
$650 billion to get through
these oil prices.
and rush are sha as well, has
sizable reserves.
so both of them have a
accusation.
but real cushion.
they both have to diversity,
and they haven't done a very
good job of diversitying
their economy.
>> a lot of soul searching
needs to go on.
what.
>> u.s. shale oil producers
would love to see prices go
up, because their production
costs are higher than saudi
arabias and russia's.
they's why these low oil
prices have being putting
pressure on oil producers.
we saw a lot go bankrupt this
year, and this year many as a