CW8888: History is most likely to repeat itself. Right?
"Saudi Arabia, U.A.E. and Qatar can live with relatively lower oil prices for a while, but this isn't the case for Iran, Iraq, Nigeria, Venezuela, Algeria and Angola," said Marie-Claire Aoun, director of the energy center at the French Institute for International Relations in Paris. "Strong demographic pressure is feeding their energy and budgetary requirements. The price of crude is paramount for their economies because they have failed to diversify."
Brent crude is poised for the biggest annual decline since 2008 after OPEC last week rejected calls for production cuts that would address a global glut.
Like this year's decline, oil's crash in the 1980s was brought on by a Saudi-led decision to defend its market share, sending crude to about $12 a barrel.
CW8888: History is most likely to repeat itself. Right?
ReplyDelete"Saudi Arabia, U.A.E. and Qatar can live with relatively lower oil prices for a while, but this isn't the case for Iran, Iraq, Nigeria, Venezuela, Algeria and Angola," said Marie-Claire Aoun, director of the energy center at the French Institute for International Relations in Paris. "Strong demographic pressure is feeding their energy and budgetary requirements. The price of crude is paramount for their economies because they have failed to diversify."
Brent crude is poised for the biggest annual decline since 2008 after OPEC last week rejected calls for production cuts that would address a global glut.
Like this year's decline, oil's crash in the 1980s was brought on by a Saudi-led decision to defend its market share, sending crude to about $12 a barrel.
Uncle, u started to swap out and into others already or not? Or do you plan to take panadols for a 2 to 3 years?
ReplyDeleteNeed morphine. Oil going down to US$30-40. :-)
DeleteThere goes our XIRR return for this year.
ReplyDeleteSee you 2015.
May be up to 2016
Delete