Saudi Goes to War, page-15

Its hard to post negative things on these forums without upsetting people.  At the risk of doing so:

Opec now flagging $40 oil

Also re: hedging.  The world oil consumption is about 90 Million BOPD (33  Billion BO per year).  Much of this is hedged and the counterparties are now staring at potentially $1 Trillion losses per year if we get to $40 oil.  Thats just on hedges - not reserve based lending and unsecured lending which is probably much more.

Low oil could either be the mother of all stimulus packages for an anaemic world economy, or could become GFC MkII