Adding to DXO @ 1.86
Oil down now $37 / BBL (+ -)
even as... The Energy Dept reported a big Drop last week in nations oil stockpiles.??
Bloomberg (BB) yesterday ran a story showing various Countries that are NOW loosing $$ to produce Oil at the low rates. For example...
Russia needs $70 per BBL
Saudi needs $50
Kuwait needs $42
Abu Dhabi needs $31 - to keep above current account deficits.
Exporters meet to create "gas" cartel
Putin says ‘cheap’ era is coming to an end (FT)
Yesterday also saw an Oil Co Bankruptcy
"Flying J" had 2007 sales of more than $16 billion
Zions Bancorp down on the news (AP)
US Store Closings now over 600
Expected 1400 (or more) in 2009 (BB Interview)
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