Crude Falls Below $30 a Barrel for the First Time in 12 Years

Re:Crude Falls Below $30 a Barrel for the First Time in 12 Y... by andys627 on Wednesday January 13, 2016 @08:34AM (#10894109)

I don't understand the "they need the money argument". They were producing 9 million barrels per day and that achieved a price of $100 per barrel... now they are producing 10.5 million barrels per day and price is <$30 per barrel.

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Re:Crude Falls Below $30 a Barrel for the First Time in 12 Y... by simonz05 on Wednesday January 13, 2016 @08:44AM (#10894157)

If the future outlook for oil prices are lower than what they sell at today — it makes sense to produce as much as you can today.

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Re:Crude Falls Below $30 a Barrel for the First Time in 12 Y... by celticninja on Wednesday January 13, 2016 @08:43AM (#10894154)

other nations have increased supply whilst demand has fallen at the same time, therefore to sell the extra oil being produced prices have to fall.

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