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Energy & Utilities How does the production cost of crude oil affect oil prices?
Recent consensus says the production cost of crude oil could range from $20 to $25 per barrel.Macroeconomic Analysis Why the bottom fell out of crude oil
Oil markets had been watching what OPEC would do in its November 27 meeting. Crude oil fell ~30% since June. It decided to stay production levels. Crude oil dropped ~10% after the news.