Hi KKW,
The imbalance has been caused by the Americans and allowing easy credit for the shale drillers to go crazy trying to beat each other and increasing supply by up to 5 million barrels a day over a short period.
Nobody can compete with the Saudis from a cost per barrel extraction of only $3. They are the lowest cost producers in the world. We are lucky they can't produce more. West Africa will compete with the rest of the world for market share but not the Arabs. lucky for us we look to be much cheaper than the majority of non OPEC producers!
Emergency OPEC meeting, page-9
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
50.0¢ |
Change
0.005(1.01%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 50.5¢ | 49.5¢ | $12.74K | 25.29K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 89162 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 2297 | 1 |
View Market Depth
| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| FAR (ASX) Chart |