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"The point here is that sub $40 oil is becoming the new norm"

Crude is currently $41.74 as of 1:10PM EDT.

Also a fair point, but since most of these countries need oil to be at $70-80/ barrel to balance their books, do you think they will care about how that hair is split?

Did I not hear that some of those high numbers either have to do with corruption or over-reliance of public services on socialized oil industry profits?

Last time this came up someone was trying to make the argument that the reason some countries need 50% higher oil prices has less to do with the costs of extracting and shipping the oil and more to do with the cost of doing business in that country.

If so, you may see some pressure to change the equation, for better or worse.

I highly doubt reform will be high on the list of priorities for a corrupt regime in decline. I would expect that the poor and middle class would suffer far more and first.

I did not mean to imply that the pressure would necessarily be orderly or civil.

Which is the highest WTI crude has been in months.

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