Analysts See $65 Oil

John Ransom Follow @bamransom

Mar 06, 2015 3:29 PM March 06, 2015 3:29 PM

First it was that oil would never go below $100. Then it was that oil would definitely hit $40 a barrel. And now analyst at UBS say the magic number is...$65-$70 a barrel. But I'll give them this they do have some reasoning behind their number. Their point is that oil production in the United States has a breakeven price of $60-$65 a barrel.

And since US production can better offset the production from OPEC countries than previously that the breakeven US price will better determine the overall price of oil in the market. But of course as we all know it makes little difference because oil prices and gas prices have nothing whatsoever to do with each other.

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