Where's the floor? Is this the new normal level? The responses have shown that the forecasts are unreliable as the oil market continues to stagger back and forth, though mostly down, crude oil is 11-year low.
OPEC is not dead and has not lost its market share, but disagreements over how to apply these funds arouse suspicion that the thresholds of pain from OPEC and non-OPEC countries are not mutually exclusive, it could have destroyed the group.
According to OPEC forecasts in 2016 the surplus of oil produced by the cartel could reach 860,000 barrels a day if you keep the current pace of production
As a result, OPEC revenues are foreseen to fall by $ 500 billion annually. The deficit of Saudi Arabia is expected to be around 20% of GDP this year.
The International Monetary Fund predicts that Saudi Arabia will run out of cash in the last five years.
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