Your information is wrong. Saudi Arabia's lifti
Post# of 39368
Posted On: 11/05/2014 9:43:28 PM
Your information is wrong.
Saudi Arabia's lifting costs are less than $10/barrel.
See How much does it cost to produce crude oil and natural gas?
Saudi's OPEC ally Kuwait's view is that oil price will not go below $76-$77 due to production costs in more expensive nations, for example the US.
See Exclusive: Privately, Saudis tell oil market- get used to lower prices
And all this talk of oil price seems a bit premature. Some meaningful oil production would be nice for Treaty. IMO
Also in my experience leaving oil in the ground or unsold in tanks waiting for a forecast oil price increase is a bad business decision (unless the oil is uneconomic to produce) - as the oil price cannot be forecast to any degree of certainty.
Cheers
Belize Oilwatch
Belize City, Belize CA
Saudi Arabia's lifting costs are less than $10/barrel.
See How much does it cost to produce crude oil and natural gas?
Saudi's OPEC ally Kuwait's view is that oil price will not go below $76-$77 due to production costs in more expensive nations, for example the US.
See Exclusive: Privately, Saudis tell oil market- get used to lower prices
And all this talk of oil price seems a bit premature. Some meaningful oil production would be nice for Treaty. IMO
Also in my experience leaving oil in the ground or unsold in tanks waiting for a forecast oil price increase is a bad business decision (unless the oil is uneconomic to produce) - as the oil price cannot be forecast to any degree of certainty.
Cheers
Belize Oilwatch
Belize City, Belize CA
(0)
(0)Treaty Energy Corporation (TECO) Stock Research Links
Scroll down for more posts ▼