On March 9, benchmark crude, Brent, had one of the biggest falls in six years, dropping close to US$30 per barrel. Crude oil geopolitics will punish not only price war combatants but also innocent others. The Russian official view is that it can cope with a crude price of between US$25 and US$30 into 2030. If some analysts are right, a more sustainable crude price for Russia is US$40. A Forbes magazine analysis of Saudi Aramco’s financials puts the kingdom’s national oil company’s breakeven crude price at US$40.

Source: New Strait Times March 15, 2020 15:56 UTC