Falling oil prices produce dilemma

By Collin Eaton and Rhiannon Meyers

November 4, 2014 | Updated: November 5, 2014 1:07am

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An oil rig works in Saudi Arabia, which has lowered its oil prices to compete with U.S. production, rather than employing its historical tactic of cutting output to force up prices. (Saudi Aramco photo)

Saudi Aramco

An oil rig works in Saudi Arabia, which has lowered its oil prices to compete with U.S. production, rather than employing its historical tactic of cutting output to force up prices. (Saudi Aramco photo)

By Collin Eaton and Rhiannon Meyers

November 4, 2014 | Updated: November 5, 2014 1:07am

The cost of a barrel of crude fell to its lowest price in three years Tuesday, as Saudi Arabia led what is becoming an international standoff over who will blink first by cutting production.

Collin Eaton

Collin Eaton

Business Reporter, Houston Chronicle

Collin Eaton

Collin Eaton

Business Reporter, Houston Chronicle

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