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Just finished reading an oil related piece from an economist. In the report it is opined that the floor price on oil is that at which a company would shut down production due to unprofitabilty.The economist sites a price range of 45-50 per barrel as a floor. Whether this proves true is another story.This was for alsakan oil, not sure on the mideast.If it pans out, we could see another 5-7 a barrel drop.
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