Tom Petrie, chairman of investment banking firm Petrie Partners LLC, thinks the U.S. and Canada will be stable amid low oil prices, and OPEC countries will have a harder time. OPEC countries need oil prices ranging between $80 and $140 per barrel to sustain their military, security, healthcare, food and exports, he said. North American oil, however, is competitive even in a low-price environment. Pressure on Congress to export U.S. oil might come in the next two to three quarters, and prices will be under pressure until at least Labor Day, he said.
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