“There’s a lot of uncertainty on both sides of the oil equation. Is demand going to be strong and will supply come down?” said Rob Thummel, who manages energy assets for Tortoise Advisors in Leawood, Kan. Both benchmarks have fallen more than 35% from roughly four-year highs reached at the start of October. U.S. crude closed at its lowest level since August 2017 Tuesday, while Brent is also at its lowest level in more than a year. Budget Buster Oil prices are below levels many OPEC and allied nations need to balance their budgets. Fiscal break-even oil price in U.S. dollars, 2018 BRENT $56.30 a barrel 21:13 GMT | Dec. 18 Venezuela $216 Nigeria $127 Libya $114 Bahrain $111 Saudi Arabia $88 Algeria $84 Angola $83 Ecuador $78 Oman $77 Iran $72 United Arab Emirates $72 Kazakhstan $62 Azerbaijan $59 Iraq $55 Russia $53 Kuwait $48 Qatar $47 0 […]