JAW-DROPPING BREAK EVEN PRICE Based on Saudi Arabias current spending patterns and its trajectory and changes in the global and domestic energy markets, Saudi Arabias breakeven price will rise from a manageable $90.7 a barrel to an astronomical $175.1 a barrel 175.1 and an incredulous $321.7 by 2030, according to Jadwa forecasts. http://www.economonitor.com/blog/2011/07/saudi-arabia’s-other-major-crisis/ USA probably sees this coming and that is why they have sucked up as much cheap Saudi oil as it could and is now focusing on it's own reserves. If USA doesn't need Saudi oil and they supply Europe with Russians who will be Saudi Arabia's friend in the world? They don't have many and certainly not in the region. What Allah gives Allah can take away
Abu - due to my already advanced years - I very much doubt or even concerned what'll happen in 15 years time. I'm steadily more concerned to enjoy the present - here and now - than bother about what might or mightnot happen in 15-20-30 years time. Every day I die a little , especialy when I hear abt conditions in Syria and not able to contact - anyof my Syrian friends . .... Its all in the laps of the gods. as they say " Fiaman -Illah" (wink)
A rise in rates is typically negative for oil prices... Crude prices dip after recent gains as Fed decision looms Tue Dec 15, 2015 - Crude oil fell in Asian trade on Wednesday, snapping gains that pulled prices back from testing 11-year lows, as investors awaited the outcome of a Federal Reserve meeting, where interest rates are likely to be raised. See also: Asia surges as Wall Street gains lifts sentiment before Fed decision Wed Dec 16, 2015 Asian stocks rose briskly on Wednesday, with sentiment lifting as Wall Street rose before a likely hike in U.S. interest rates, while the dollar held to large gains made as Treasury yields picked up.
In yesterday's news Saudi Arabia will supply Egypt with oil for the next five years. Saudi investments in Egypt exceed 8 billion. http://english.alarabiya.net/en/bus...orders-investments-in-Egypt-exceed-8-bln.html
Slowing demand adds to high output to keep revenue streams up for OPEC... Oil prices remain weak as slowing demand adds to high output Mon Dec 28, 2015 - Crude oil prices remained under pressure on Tuesday as fears of slowing demand added to worries over near-record global production levels that have slashed prices by two-thirds since the middle of last year.
1 Qtr. 2016 oil prices may go lower... BP CEO Bob Dudley predicts further slump in oil prices Sunday 3rd January, 2016 - BP Chief Executive Officer Bob Dudley has predicted a further slump in the already record-low oil prices, pointing out that the first quarter in specific could be a low point.
API against Obama's barrel tax... American Petroleum Institute: Obama Thinks Americans Dont Pay Enough for Gas February 8, 2016 -- President Obamas proposal to impose a $10 per barrel tax on oil increases the hostile campaign the administration is waging against the American consumer, Jack Gerard, president and CEO of the American Petroleum Institute (API), told reporters during a conference call on Monday.
Old saying, "The Arabs have oil and religion. Tomorrow they only have religion." If we aren't at "peak demand" for oil yet, we soon will be. By 2030 the electric car will be mainstream, and long before then investment in oil will become problematic. Like investing in coal power stations today. If Saudi Arabia fails to diversify or tighten its belt it will go the way of Iran - and descend into Jihadi Hell.