How Low Will Oil Prices Go?

Comments (2)

  1. Jawaid manzoor says:

    Up and down in the oil price is double edged sword, but has advantage at home level. For instance the home auto sales that go up and down with oil price. US oil companies have enough reserves to play with price and keep profits. Here it means to salvage falling sales of autos in collusion with auto industry in a sharing agreement while diametrically playing around with larger and a smaller models. There again, nothing is free – you get break on one to pay more for another. Look at the food prices going up for instance to start…

    Just an opinion.


  2. Previous petroleum eng jim says:

    You were correct but you under estimate the bottom. Some surplus comes from shale however much is coming out of the Permian basin. I liken this to the housing boom. Money to be made everyone jumps in. Corn same way. Corn price goes up everyone plants corn. Oil.. Is like turning a battleship. Wells will taper out but they are online already and must operate to pay for completion costs. In addition the oil field has hardly missed a beat so far. I was in midland last week. Slow down.. Not hardly. Also the countries that depend on oil.. Remember if the price goes down, they can make up the difference by.. Selling more oil! And then there’s opec. They gain nothing from a short term drop. They won’t improve their market share until the equipment companies producing equipment for new wells are offline. This won’t happen quickly. OPEC not only will continue to produce they will likely increase production. Also shale is profitable well below 70 a barrel but oil field wages are fat!


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