DislikedHi lilmoe,
From what i understand the 12 countries in OPEC need oil on average to trade around $58/barrel in order to still bring in profits to their countries.
So I was thinking even if we do see oil below $51 , it won't last long at all.
Please let me know howthis sounds to you.Ignored
just a question that i ask myself, How these coutries were profitable when oil was selling $15 a barrel couple of years ago ???...then $35 !!!!
and then how much money these countries and oil companies made selling $58 ( breakeven price) at a price of $100 even more $147 a barrel.