| It is not possible nor practical for oil prices to fall below $40 a barrel. Everybody is predicting that oil prices will decline to as low as $30 or even $25, but this is pure speculation just to gain more publicity or to be known as the one who forecasted low level of crude oil prices.
The hard fact is that no oil producer outside the OPEC can survive such a low level, and within a short period, it will be forced to close down. The only countries that can manage such low oil prices are the Arabian Gulf producers, as the rest have higher cost – almost double, above $20 a barrel – including North African countries, Nigeria, Angola and Venezuela...............................................Full Article: Source
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