The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
If there is a recession, how low is "lower"? We have met the enemy, and he is us — Pogo
I could see the Saudis tolerating $60-75 if they see evidence higher prices are leading to real acceleration of shifting to alternatives. They're smart enough to know that once people shift, they won't come back.
If we have a serious worldwide recession such that demand drops back to say 70 MMBD from current 80-84 range, we could go even lower as at that level Saudi and Kuwait could turn off their entire production and there would still be a surplus. OPEC had that size drop in the pull of their production in the 80's which led to oil going from $40 to $10 (say $100---$25 now).
http://www.wtrg.com/oil_graphs/PAPRPOP.gif
Odds of that happening??? got me.
by Frank Schnittger - Jan 24 3 comments
by Oui - Jan 20 52 comments
by Oui - Jan 23 17 comments
by Frank Schnittger - Jan 14 53 comments
by gmoke - Jan 22 2 comments
by Oui - Jan 10 61 comments
by Oui - Jan 21 10 comments
by IdiotSavant - Jan 15 20 comments
by Frank Schnittger - Jan 243 comments
by gmoke - Jan 24
by Oui - Jan 2317 comments
by gmoke - Jan 222 comments
by Oui - Jan 2110 comments
by Oui - Jan 2052 comments
by Oui - Jan 2011 comments
by Oui - Jan 172 comments
by Oui - Jan 1610 comments
by gmoke - Jan 16
by IdiotSavant - Jan 1520 comments
by Oui - Jan 1447 comments
by Frank Schnittger - Jan 1453 comments
by Oui - Jan 1389 comments
by Oui - Jan 1177 comments
by Oui - Jan 1061 comments
by Frank Schnittger - Jan 877 comments
by Oui - Jan 772 comments
by Frank Schnittger - Jan 710 comments
by Frank Schnittger - Jan 668 comments