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You guys realize that Saudi Aramco can produce a barrel of oil for like 8 dollars and can keep production up until the planet kills us, right?
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Sep 29, 2015 09:14
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drilldo squirt posted:Can you explain why? Yeah, they have an absolute fuckton of oil that's extremely easy to access and are a state-owned oil company.
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Sep 29, 2015 10:27
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Ardennes posted:Latest estimates is that the Saudi state itself needs Brent at $100-110 to break even, Aramco can pump the very cheaply but their entire country is based around the assumption of far more enormous profits. The Saudis have money stashed away to pay for their expenses for a while, but there is growing worry they are burning through them too quickly and building too much debt. Agreed. Their cost of production is dirt cheap but their expenses are insane.
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Sep 29, 2015 17:40
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