Nebraska aka the boondocks | OPEC has to do something. I was watching Fareed Zakaria a couple weeks ago, doing a piece on the breakevens for a lot of these oil dependent producing countries. A lot of them need $100 a barrel to sustain spending, many depend on oil for 90 % of their budgets. What will they do? They have to cut production, and as long as they say they are going to cut, that is kinda like the USDA printing numbers, they may not be true, but that is what is traded. If they say they will cut and they cheat and the price goes up, that is better than sitting around doing nothing. |
Tug of War
