Brent crude drops below $59 - should we stop selling it

[saaby93]

The price of Brent Crude drops below $59 per barrel
http://www.bbc.co.uk/news/business-30491801

It's a particularly fine oil. Should we stop selling it when the price is too low?

[saaby93]

gibbon said:

Sorry what? Do you mean should OPEC reduce supply?

Its a political play against Russia by the west. So no, they wont.

No I meant should the UK stop selling its meagre oil reserves until the price picks up again.

The other oil producers should be able to fill the gap

[saaby93]

TwigtheWonderkid said:

I doubt it too. For a start, you have hundreds of employed people under contract. They will still need paying.

I know nothing about oil platforms but would guess they need ongoing maintenance.

I guess the contracts could depend on there being work
In my mind I had the idea of a great big tap that could turn off the oil until the price rose again

[saaby93]

Its edging back up again
http://www.bbc.co.uk/news/business/market_data/com...