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  7. Saudis can cope with LOW oil price !

Saudis can cope with LOW oil price !

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19 Jan 2015 14:15 #235076 by ketchim
Saudi Arabia can cope with low oil prices for "at least eight years" :

Minister of petroleum .

             

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19 Jan 2015 14:16 #235077 by ketchim
Mohammed al-Sabban said the country's policy was to defend its current market share ;

by enduring low prices.  ;)


"You need to allow prices to go as low as possible in order to see those marginal producers

move out of the market,"

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19 Jan 2015 14:17 #235078 by ketchim
Saudi Arabia, the largest producer within the Opec oil producers' cartel :

has repeatedly said that it will not cut output to try to boost the oil price.

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19 Jan 2015 14:18 #235079 by ketchim
The dramatic fall has been blamed on a sharp increase in production from North American shale

companies, which has increased the supply of oil and gas, helping to depress prices.

what I said earlier  ;)

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19 Jan 2015 14:23 #235082 by ketchim
Brent crude was trading at around $49.40 a barrel, down 77 cents...

US crude was trading down 74 cents at $47.95 a barrel....

        The falls came after Saudi Arabia said again on Sunday that it would not cut output
to prop up oil markets.

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19 Jan 2015 14:33 #235090 by ketchim

8 more Years for The Captain  :-[

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19 Jan 2015 14:35 #235093 by ketchim
"If they want to cut production they are welcome.

We are not going to cut, certainly Saudi Arabia is not going to cut."

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  • The Captain
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19 Jan 2015 14:38 #235096 by The Captain
great now i can get me a new car

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19 Jan 2015 14:39 #235097 by ketchim
IF you still have a J_O-B-

when your economy crashes  :-[

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19 Jan 2015 14:43 #235100 by ketchim

Cappo , trinis will experience y'all problems  ::LOL::

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