Stubborn Energy Prices?
Some interesting market color that crossed the news wires last night:
The ingredients are in place for a massive oil price collapse — massive production, low breakeven costs, low financing costs, tight capacity — BAML says, seeing the possibility of $50 oil within the next 24 months. But with North American production costs relatively high and Saudi Arabia capable of decimating U.S. producers if it stepped up production enough, FT’s Ed Crooks sees little chance of a dent in prices.
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