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In the short run, all oil exporting countries including Saudi Arabia are affected by the low oil prices. But Saudi Arabia benefits in the long run with estimated currency reserves of about $700 billion, allowing it to bear current low oil prices for a few more years. Low oil prices also give Saudi Arabia political power over other oil exporting countries that are its political rivals. For example, Saudi Arabia clashed with Russia and Iran over the Syrian conflict when the latter kept supporting Bashar al-Assad's regime against Saudi Arabia and its western coalition.
Oil is a commodity, and as such, it tends to see larger fluctuations in price than more stable investments such as stocks and bonds. OPEC, or the Organization of Petroleum Exporting Countries, is the main influencer of fluctuations in oil prices.OPEC is a consortium made up of 13 countries: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.PEC vowed to keep the price of oil above $100 a barrel for the foreseeable future, but in mid-2014, the price of oil began to tumble. It fell from a peak of above $100 a barrel to below $50 a barrel. OPEC was the major cause of cheap oil. It refused to cut oil production, leading to the tumble in oil prices.