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Oil Producers Feel the Pain of Falling Prices

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Oil Producers Feel the Pain of Falling Prices

Release date: 28 April 2020

Topics:

Oil and Gas

Power generation

COVID-19

StayHomeEconomy

The collapse in the price of crude oil is putting immediate and severe financial pressure on producers that are heavily dependent on revenues from exports. None of the OPEC states balanced their budgets at below $50/barrel in 2019, with a number requiring more than twice that amount.

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