What do you think about this? Saudi king says oil should be $75 per barrel ?

When it was $130 a barrel he didn't say it should be $75 did he?What do you think about this? Saudi king says oil should be $75 per barrel ?
it's better than $130What do you think about this? Saudi king says oil should be $75 per barrel ?
Let him talk. Replacing gasoline with natural gas will have the Saudi King talking to himself.
Hello? He basically owns Saudi Aramco (Saudi Arabia's national oil company). When oil prices are like this, he has to produce oil for a huge prices slash. That's the whole reason OPEC was formed.





When asked in an interview about oil prices, the king said: ';The West has charged + 300% on corn and everything else we import while we export oil for the same prices every year';





The Shah of Iran, the way I remember it
I think it should be $20 a barrel and I am the Queen of my House.So there.Let them eat cake.
Prices of goods and services are generally decided by supply and demand. Some people try to manipulate prices because they like to earn money by any means.


If the price of oil is relatively high, our scientists and politicians will be forced to find other solutions.


What is the real cost of oil? What is the mark-up? It is not only Saudi Arabia which earns more money when the price is high but also the large oil corporations.
hehehe figures to support all his wives oil should be $75 but for me I say the lower it gets the better it is,
I work for Aramco the company mentioned above and I'm Irish. Saudi isnt going to be affected that much it produces oil for a bout $2 a barrel on average. They will miss the extra cash but will survive easily.





But for the likes of Venezuela and Canada their oil costs a lot more because of the methods needed to extract it. As far as I know a lot of Venezuela's costs about $40+ a barrell to produce so they are getting hit big time by this. They are a poor country so for them $54 a barrell spells trouble; that's all he meant.
The Middle East decided last year to sell its Oil reserves in Euros.


So that's in the exchange rate more dollars to a euro.





It's pushed the price of crude up for the West who buy in $s.


Simple as.