OPEC & Russia have their hand on the taps and can flood the market at anytime; $82 oil is a pipe dream and so is $70 oil. Inflationary pressures are already starting to appear just as the US, in particular, is at full employment. Runaway oil prices of $70+ would hurt the world economy and the heads at OPEC know this.
...and btw, shale is going to be around for decades...ask Exxon, who’ll be spending $35b over the next 10 years in the patch; Shell sizing up BHPs acreage, and the beat goes on...
Oil $82 in six months?, page-4
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$6.82 |
Change
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Mkt cap ! $23.02B | |||
| Open | High | Low | Value | Volume |
| $6.72 | $6.84 | $6.71 | $42.88M | 6.307M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13309 | $6.82 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.83 | 58478 | 6 |
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