I have read somewhere that it ranges between USD$40 to US$50 dollars per barrel and even less than that for some. So if the price of oil will raise to $60 to $70 dollars per barrel most of them will become very profitable indeed.
Besides, what is stoppings the USA to put a protection price in order to protect it's own industry.??
It is all Politics and talks IMHO. And like that articles is saying the Saudis aren't going to play along with Russia when Russia is helping the Syrians.
Finally, in case you haven't noticed it as yet, and if I have got it right, nowhere in that article did it say that they will reduce the current oil output production. They've only said that "they are going to cap production". And that, IMHO, it doesn't mean anything. It only means that the current production of oil which is flooding the market will continue.
Dyor!!
CTP Price at posting:
10.0¢ Sentiment: None Disclosure: Held
