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re: $19 Crude. Wow.
Posted on 3/29/20 at 6:31 pm to GREENHEAD22
Posted on 3/29/20 at 6:31 pm to GREENHEAD22
quote:They definitely can for a while. Their 4-5 year estimate is likely exaggerated, but 6 months of this ain't squat for the Saudis.
If SA and Russia stick to the script then it is possible however not sure if either especially SA can hold out.
It's not ideal, so I'm sure they're back-channeling trying to get it resolved.
This post was edited on 3/29/20 at 6:33 pm
2
Posted on 3/29/20 at 6:35 pm to Louie T
While their lifting cost are super cheap the price they need to run the country is much higher. Still around 85 a barrel.
This post was edited on 3/29/20 at 7:00 pm
Posted on 3/30/20 at 1:11 pm to Louie T
Saudis have already bought shipping contracts on oil tankers at very high rates. They are willing to store the oil on tankers for awhile.
However, there are zero tankers left for this. Everyone is running out of storage.
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