Originally Posted by Mr Nice
Russia unhappy OPEC not wanting to cut production.
Production needs $50-55 a barrel to be profitable. Lots of job cuts in the oil industry very soon.
The long market run is quickly coming to an end. Which is really not a big surprise.
Expect Chevron and Exxon Mobil to cut their dividend very soon if crude gets pummeled ....
Correct, but not when you're Aramco.. Aramco is killing non state owned producers. It's practically cheaper to buy it, than get it out of the ground and refine it, right now.