G'day mite! OPEC Basket Price Today is $46.55 A Barrel-

This morning, the OPEC Basket Price of thirteen crudes is selling at $43.55. This is the oil from Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela). Down at the local pump, this bit of schadenfreude translates to $1.67 per gallon thank you very much.

Break Even Point for a properly balanced budget according to the IMF:

• “Iran’s break-even price is $90 a barrel, and that is a big issue in Iran right now,” Khan said. Iraq has the highest break-even price in the region, according to the IMF figures.

• Saudi Arabia needs crude prices to remain above $49 a barrel to avoid a fiscal deficit, a senior International Monetary Fund official has said.

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• Kuwait’s break-even price is $33 a barrel
  

• Algeria needs $56 a barrel.

• Iraq $110.
  

• UAE $23.

• Qatar$24

• Kuwait $33

What say we go for another round of the Happy Sword Dance?