Oil Price War
Автор: Globe Backyard TV
Загружено: 2014-11-26
Просмотров: 778
Описание:
There could be overriding geopolitical considerations. Another objective of OPEC, that all of us have heard, is that they want to remove some of the excess production out of the shale industry in the US.
Low oil prices don’t affect OPEC heavyweight Saudi Arabia which only needs prices in the mid $70s to keep its budget balanced, whereas US shale becomes unprofitable at around the $80 benchmark, according to the IEA.
Crude output in the US is at a 50-year high having increased 60 percent since the onset of the fracking boom in 2008.
Channel "RT TV"
http://rt.com/business/208979-opec-st...
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