Opec 'will let oil price fall below $40' - 12/10/2014
Opec 'will let oil price fall below $40' - 12/10/2014
As the price of Brent crude fell below $60 for the first time since 2009, the most powerful nations in Opec have made clear that they are willing to push prices as low as $40 a barrel in their bid to take on Russia and US shale, a high-profile Gulf oil minister said this week.
Suhail al-Mazrouei, energy minister of the United Arab Emirates, said that the organisation will let prices fall by more than $20 per barrel before they consider an emergency meeting to cut production.
"We are not going to change our minds because the prices went to $60, or to $40," he said.
Entire UK (Brent) Article:
http://www.theweek.co.uk/business/oil-price/60838/oil-price-opec-wi...
Views: 570
Replies to This Discussion
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Permalink Reply by DellP on
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Humor, but what price would it take for North America to go back to OPEC oil? US no longer concerned with saving the dollar as world currency? Futures Exchange sets oil prices, and so it looks like OPEC is waging a price war.
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Permalink Reply by DellP on
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With many news articles of: Radical Islam siezing oil fields and refineries, to support their caliphate (govt takeovers), I'm wondering if maybe NATO is cutting OPEC off. Check this out, a google search for "OPEC IS DEAD"
Edit: I've also heard rumored that the Saudis were responsible for hiring & funding 9/11.
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