It is a political game right now. America and Saudi Arabia are trying to put Iran and Russia in their place. So Saudi Arabia is dumping crude oil in order to help with the political negotiations.
The last time we had a crude oil collapse, it went down to the low thirties. I do not think it is going there again, but it could if America and Saudi Arabia try to put more pressure on Iran.
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.