$ 65 per barrel - is the limit

Cost of "black gold" at $ 65 per barrel - more acceptable to the producing countries and companies. But if the price drops below, it will be critical. Transmits news agency Reuters citing the head of the Saudi petrochemical company Saudi Basic Industries Corporation Mohamed Al-Mady. "Of course, the price at $ 65 per barrel is still reasonable for the miners. But if it continues to decline, it will adversely" - believes al-Madi. At the same time, he noted that we are talking about Middle Eastern countries. According to Arab experts, demand for petrochemical products in Europe will grow by two percent. "In Europe, acted a little financial crisis, but there is still a small growth of the economy", - he said. Recall that the cost of petroleum "basket" of OPEC (OPEC Reference Basket of crudes) last week, on Thursday, fell to 0.93 U.S. dollar - up to 69.64 dollar per barrel from 70.57 dollars per barrel in the previous trading day. In April 2010 the average price of a barrel of OPEC oil was 82.33 dollars in March - 77.21 dollar in February - 72.99 dollar in January - 76.01 dollars per barrel. Today the price of the OPEC basket is defined as the average index of physical prices following oil prices, crude cartel countries: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).