26.09.2014 - Overheard: Falling Prices Hit OPEC
Oil cartel struggles to cope with falling prices—the heart bleeds, surely. Sympathizing aside, OPEC's fiscal health is a big factor in arresting the slide in oil prices, down 15% in three months. In a report published Wednesday, Citigroup estimated oil prices at which various major exporters balance their books. These range from $44 a barrel for Kuwait up to $184 for Libya. Some big producers are squarely in deficit territory. Iran's price is $130, for example, while Venezuela's is $161. Brent's average so far this year—the key metric rather than the current price—is $107...............................................Full Article: Source
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