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Osborne on Leave limbo: Travel and trade stay unchanged

Alan Brown Silver badge

"and their budget from the last referendum assumed Brent Crude would remain at $115 a barrel in perpetuity... it's currently at $48."

The current stupidly low price of oil is due to a trade war run by the House of Saud in order to bankrupt "tight oil" producers (tar sands, bakken shales) and is massively depleting their resources - to the point where they're borrowing vast amount of money to keep their lavish welfare schemes running.

When (not if) oil prices rebound they'll go much higher than $115/barrel.

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