Cogito

Price of Oil is 2 $

Posted in Uncategorized by qmarks on January 21, 2009

oil_graph_crude_oil_prices

Minister of Oil in Saudi Arabia has given a reportage to 60 Minutes emission in CBS TV. He says, production of a barrel costs less than 2 dollars. But the average price expectation of Saudi Arabia is 50 dollars per barrel. Today the price is low as 33 dollars and the buoyancy of economy will freeze until the demand will bring it up to 50 dollars.

Credits: bp.com

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