The oil exporting cartel remembers that in a world strapped for energy, oil prices can and will be quite sticky. Which is why now that OPEC has had its refreshed taste for $120 brent. It will most certainly not let the price of crude drop into double digit territory. OPEC has just announced that $120 oil is an acceptable level and will "not hinder global growth."
http://www.zerohedge.com/article/opec-says-perfectly-happy-120-oil-does-not-think-it-will-impair-growth
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