"Riyadh will require an average oil price of $96.20 a barrel to balance its budget. "That’s up 21% from a previous forecast in October." --IMF bloomberg.com/news/articles/… #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities
@aeberman12 BOOM ! That puts USA and world into real GDP recession
@aeberman12 Insane. So when the Permian plateau 100 will be the new baseline # This will be a hidden tax for years.
@aeberman12 The more ambitious projects the more the price floor climbs
@aeberman12 Actually, it would be wise for Oil producing nations to collaborate to start increasing oil prices to encourage #G30 nations to get serious about ecologically sound #sustainable economies. We need to ensure long term crude supply for centuries, not just decades. #G30 get serious
@aeberman12 So curbing their profligate spending isn't an option?
@aeberman12 What if they return their production? “but as Riyadh sacrifices sales volumes it need a higher price to compensate.”
@aeberman12 Russia will laugh all the way to the bank.
@aeberman12 @Orangeman1992 production cut incoming...