Oil prices are falling from near historic highs. Last month alone prices fell almost 40 per cent. At the start of this year Brent Oil was over $100 a barrel. Today it’s closer to $65, with some analysts predicting further falls to $40 a barrel. This limit is very close to at-cost production levels for many countries, particularly those with deep well systems and offshore delivery platforms.
Producers who just pulled oil out of the ground at...
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