Reearthshare Edlog et al. From Bahrain. Two days ago Saudi Oil Policy people said the oil price will not stay low for long. Looks like an extra OPEC meeting will be late Feb and perhaps Saudi cuts in Q2 to get back to $80 to $82. Saudi cannot keep this up much longer than summer anyway as they have about 28 million people most of whom are under 30 plus 25 million foreign workers. So in order to keep ISIS etc out they need more houses, schools, hospitals and well paid Govt jobs, hence $90 per bbl. As to Kenya if it succeeds maybe 4p in this market or 6.5p if oil is over $75 then. The key is how many US oil shale drillers fail. By the end of March Saudi is hoping for 30% failures there and I suspect they will be correct. Hope this helps !!
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