FT report Members of Opec have discussed holding an emergency meeting if crude continues to slide, according to Nigeria's oil minister, in a sign of their growing alarm over the impact of a lower oil price on their economies. Oil jumping.
Joined Mar 2008
Status: PVSRA with Traderathome
And why should they be alarmed over the cost of oil progressing further towards the price area that is totally reasonable considering the cost of production? Have not the Oil Barons gouged the world enough already? Or, has the taste of glutenous past price gouging increased their greed factor to where they feel "disadvantaged" at prices that are anything less than outright thievery?
A country that has Oil flowing like river should definitely have Oil Minister Bro...
That's why Greece is poor. It doesn't have an oil minister to manage its biggest resource, its oil. It is the third biggest producer of ....olive oil (60% of Greek land is cultivated for olive growing).