The price of oil passed the $95 mark on Thursday, and expected to hit the century mark soon. Iran is counting on $100 oil in 2011 to finance its ambitious subsidy reform program, including $2.4 billion in monthly cash payouts to help people cope with the removal of government subsidies and the rising prices.
Thursday, January 6, 2011
The Rising Oil
The price of oil passed the $95 mark on Thursday, and expected to hit the century mark soon. Iran is counting on $100 oil in 2011 to finance its ambitious subsidy reform program, including $2.4 billion in monthly cash payouts to help people cope with the removal of government subsidies and the rising prices.
You might want to check your facts, oil on Thursday has not reached that high. On Thursday it was around 88 dollars and only today is approaching 89 dollars. Not sure where 95 dollars is coming from?
ReplyDeleteNo doubt that overall Oil is increasing thought!
There's more than one oil price actually depending on the exchange where it is sold as well as spot or future prices. The Brent spot was indeed above 90.
ReplyDeleteSee here http://www.bloomberg.com/energy/