OIL closed at $ 66 Friday Nov 26, 2014. Russia's currency is rubel. This means that low oil prices are OK for Russian economy due to currency rates according to the finance minister. Price of oil is seeking a floor now and it will take some time to find it. A price of 90 is reasonable. The cost to pump one barrel is 4. Cheapest in the world. OPEC:s target is to get the Fracking industry disabled to take market share from OPEC. It will take time to get them into economic problems. The tecknical picture for Oil right now is down with a target of 63.
5 min. The close Friday.
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