WTI trying to hold 55. Brent trying to hold 60
Some points from the above chart for WTI and Brent:
- Intermediate trend is down for above grades
- WTI attemping to hold 55
- Brent attempting to hold 60
- Differential is now only $4.47
Opec leader vows not to cut oil output even if price hits $20……………
In the MEES interview, Mr Naimi said Saudi Arabia and other Gulf oil producers would be able to withstand a long period of low crude prices, largely because their production costs were so low — at only about $4-$5 a barrel.
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