“At a price of $67-68 a barrel, oil companies need to source about $100 million from the spot market in a month. At only $65 a barrel, this will go down to $60-$70 million, a demand that can easily be absorbed by the market.”
“We haven't seen the peso at low 52 levels for a long time, so those who are not so optimistic are now hunting for bargains. They are buying dollars at these levels.”
