As was submitted here , oil continues to retreat in run. UAE has said that it would not care less if it falls to $ 40.
http://www.bloomberg.com/news/2014-12-14/u-a-e-says-opec-won-t-change-output-even-if-price-drops-to-40.html
That seems to be talking it down... quite effectively. The $150 billion of value loss on Gulf capital markets since the end of October ...
Reuters: http://in.reuters.com/article/2014/12/14/us-opec-oil-badri-idINKBN0JS06F20141214.
That does not seem to have bothered not so much.
Markets like Oman will fall faster than others as they have nowhere the reserve staying power of the Saudis. Reserves cannot be used in the short run and capital markets are in the short run.
Is this aimed at Iran in a joint Saudi- UAE effort? There goes the dysfunctional cartel of OPEC then.
This brings power shift in the Middle East back to Saudi Arabia and GCC rather than Iran .
Sell and buy oil? It seems cruising towards$ 50 for now and now that UAE has set it at $ 40!!!
http://www.bloomberg.com/news/2014-12-14/u-a-e-says-opec-won-t-change-output-even-if-price-drops-to-40.html
That seems to be talking it down... quite effectively. The $150 billion of value loss on Gulf capital markets since the end of October ...
Reuters: http://in.reuters.com/article/2014/12/14/us-opec-oil-badri-idINKBN0JS06F20141214.
That does not seem to have bothered not so much.
Is this aimed at Iran in a joint Saudi- UAE effort? There goes the dysfunctional cartel of OPEC then.
This brings power shift in the Middle East back to Saudi Arabia and GCC rather than Iran .
Sell and buy oil? It seems cruising towards$ 50 for now and now that UAE has set it at $ 40!!!
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