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Commodities Briefing - Categorized | Oil, Price Watch more

Oil below $100 highlights widening gap in OPEC pain thresholds

Posted on 26 June 2013

Oil’s fall below the $100 a barrel favoured by OPEC exposes the deepening divide between countries in the group better able to cope with a lower price and those most hurt by it, making collective action to halt any further price slide harder.
The price of oil dropped below $100 this week from a 2013 high of $119.17 in February, pressured by lacklustre demand and ample supply. While a sustained sub-$100 Brent is bearable for Saudi Arabia, it puts a strain on others such as Iran………………………………………..Full Article: Source


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