Saudi Arabia expects oil prices to stabilize around $60 a barrel, according to the Wall Street Journal, a level both it and other Gulf producers believe they could withstand. While word of oil prices dropping even further is not being heralded as good news in industry circles, there may be an end in sight to the massive slide in oil prices that occurred in the second half of 2014.

$70 Saudi Oil

When Saudi Arabia trimmed its prices to $71 per barrel last month, markets believed $70 per barrel might be the base price for oil. But after OPEC...


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