Re:Wherever oil goes, the stock market goes
by zaroth on Monday February 15, 2016 @02:47PM
(#11105452)
Norway is near the high end with cost of production at $36.10 / barrel.
http://money.cnn.com/interactive/economy/the-cost-to-produce...
Re:Wherever oil goes, the stock market goes
by effie on Monday February 15, 2016 @02:32PM
(#11105360)
Not whole economy is based on oil. It makes 30% of revenue and 50% of exports.
https://www.regjeringen.no/no/aktuelt/the-norwegian-experien...
Re:Wherever oil goes, the stock market goes
by dforrestwilson1 on Monday February 15, 2016 @03:18PM
(#11105634)
50% of exports is pretty bad in a world where you need/want things like iPhones and don't make them yourself. We're all very connected at this point.
And Norway, and Russia, and probably others.
The economy in Norway looks pretty bad right now. And Russia is having very bad times right now I believe.
At least in Norway it's because the oil price is way to low for them -- I heard that they break-even at $60 or $70 per barrel. That's pretty bad if practically the whole economy is based on oil.