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Saudi Arabia Expects Oil Stabilization at $60 a Barrel
Dec. 04, 2014 12:37PM PST
Oil and Gas Investing
Saudi Arabia has spread that it expects oil to drop to $60 a barrel, prompting a further drop in oil prices on Thursday.
Saudi Arabia has spread that it expects oil to drop to $60 a barrel, prompting a further drop in oil prices on Thursday.
According to CNBC:
Saudi Arabia expects oil prices to stabilize around $60 a barrel, Dow Jones reported Wednesday, citing sources familiar with the situation.
The report quoted an unnamed Gulf oil official as saying that if prices did fall below $60 “it won’t be for a long time.”