27 Aug '16, 11pm

OPEC oil revenue down nearly 50 percent: Net revenue for members of the Organization of Petroleum E...

rockman on Sat, 27th Aug 2016 6:27 pm The MSM, as always, is hours ahead when minutes matter. LOL. “…net OPEC oil revenue was around $606 per person last year, down more than 80 percent from 1980.”. Two years ago countless stories about the KSA/OPEC intentionally forcing the price of oil down to inflict damage on US shales producers. And now the story is how the lower price of oil, uncontrollable by the KSA/OPEC, is inflicting severe damage on their economies. And with little expectation of change anytime soon. And ever though the US shale rig count is way down our shale production, though leveled off and beginning to slide, is still close to levels when prices began to fall. It may not be long before we see MSM stories about the cruel conspiracy of US shale producers refusing to voluntarily cut rates and thus trying to destroy the economies of their foreign competitors. LOL.

Full article: http://peakoil.com/production/opec-oil-revenue-down-nearl...

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