Russia now needs oil at $110 a barrel to manage its finances. For Iraq, the number is $100. Even Saudi Arabia now needs oil to trade around $80 a barrel just to balance its budgets. The numbers are also high for Algeria, Qatar, and Oman. Only a decade ago Saudi Arabia was able to balance its budget with oil prices averaging around $25 a barrel.
http://globalpublicsquare.blogs.cnn.com/2012/01/15/zakaria-why-oil-prices-will-stay-high/
Oil will decline shortly after 2015, says former oil expert of International Energy Agency
http://petrole.blog.lemonde.fr/2011/12/30/oi-will-decline-2015-according-to-a-former-expert-of-the-international-energy-agency/#more-3983
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