Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By Hondo297S
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

SITREP Saudi-led OPEC Attempting to Crash U.S. Oil Shale Business as Price Tumbles

Tuesday, December 2, 2014 9:08

% of readers think this story is Fact. Add your two cents.

Note: Be aware of what is around you, decern fact from fiction.

Saudi Arabia, Kuwait and the UAE (United Arab Emirates) are attempting to preserve their market share, while inflicting damage on U.S. shale oil producers. They have pushed the price of crude oil down, giving up tens of billions of dollars in revenue. These three countries can make money at $30 per barrel.

The lower price of oil has created an enormous revenue shortfall for Russia, Venezuela, Nigeria, Algeria and other oil-producing countries.

Russia needs an oil price of $100 per barrel to balance its budget, according to The Economist. Iran needs around $130 per barrel, and Libya, Iraq, Nigeria and Venezuela need between $110 and $120 per barrel. For more information

http://www.economist.com/blogs/graphicdetail/2014/10/daily-chart-7?fsrc=scn/tw/te/bl/dc/blackgolddeficits

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).

Comments

Online:
Visits:	1,607,019,825
Stories:	8,160,628