onsdag 18 januari 2012

The "break-even" costs for the world's top oil producers

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.

Oil will decline shortly after 2015, says former oil expert of International Energy Agency

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