GREY:LSTMF - Post by User
Post by
chantal2468on May 28, 2015 4:04pm
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Post# 23775432
sorry to burst your bubble but opec
sorry to burst your bubble but opec
can pump over 35 M b/d if they really wanted to...currently at 31 even though cap is 30...iran ,iraq and Libya could each produce one more saudia Arabia can produce over 2M b/d...that's 35M-36M b/d by OPEC if they really get their act together and try to destroy high cost producers...so therefore if demand weakens and OPEC increases....this could theorectically continue for at least 5 years or it could end in 6 months...nobody knows....just look at history,1984-1999....difference between then and now is there is not as much spare capacity as then PLUS national budgets are much higher now versus then....so we shouldn't be low prices for 15 years BUT it could be up to 5 years ...it is quite conceivable