OPEC’s Dilemma
Falling crude price = falling cash flow
Citigroup’s Mushtaq Khan wrote earlier this week that “Saudi Arabia must sell its oil for an average of about $70/Bbl U.S. in order to finance imports and domestic projects in 2009 in the non-oil sector – the U.A.E. requires $70/Bbl, while Kuwait and Qatar require $55/Bbl to.....
