22.06.2015 - Where The Price Of Oil Is Heading Next
Last month, OPEC held its 167th meeting in Vienna, Austria. The two main takeaways? One: The oil cartel will maintain production at 30 million barrels per day (bpd), with unofficial numbers above that. Two: Saudi Arabia’s price war against U.S. shale producers will continue. By resolving to preserve its already high production ceiling, OPEC is keeping prices low and putting the squeeze on all non-OPEC output... Especially companies working in shale, where costs are significantly higher...............................................Full Article: Source
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