Possible Cap Raising?, page-49

Interesting to hear him mention the $10 to $20 break even estimate for West Texas and the dominant Middle East OPEC players.
We often hear much higher break even amounts being bandied around, yet these are generally for country national account balances as a whole- which depend on oil income from govt owned oil companies- and do not take into account currency reserves/debt/ adjustments to expenditure that each govt may be willing to entertain for the purpose of winning the game.
Now that US isn't buying much from Nigeria (Pre- shale boom the US used to take the vast bulk of Nigerian output) Saudi Arabia will do anything to stop Nigeria forging trading relationships in Asia, hence the carte blanche trading we have seen recently. IMO the Saudi's have not lost or opted out of control of OPEC at all, they are simply playing the game and will not stop until corporate Yankee blood is on the floor.
Either way, without clear direction from OPEC a race to marginal cost is inevitable and the true cost of the weakest players will soon see broad daylight.. One by one..