oil is going to rock soon. Developing supply shortages, new demand growth in countries like India and the dwindling investments in new projects could set the stage for another big boom in oil soon. This time we could see 200 dollar oil. What goes around comes around folks.
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Oil and gas workers are being laid off and secretly replaced with lower paid h1B visa workers. Don't expect to get your old job back.
Earth to moonbase, oil close below $49 today, probably go lower next week.
Dream on OP.
@-1ors, did you hear this message while standing in a bread line in Russia?
The prevailing "driver" is this: global demand remains low. While that condition persists, events that temporarily diminish supply are amplified and all bets about future price increase remain very uncertain.
Oil will be very expensive, but the price will be not in dollars, but in some other currencies, for example in Russian roubles. Nobody needs useless dollar anymore. Giant pyramid of the dollar is rotten and soon is collapsing and crush down on all of you
Yes Indeed @-1fiq, That sounds really well researched. Good work there, guy - ROTFLMAO!
Price drivers are Canadian fires and Nigerian attacks. Temporary boost. Back in the high 30s soon.
It is slowly but surely creeping up. Will be in the sixties before long.
Dream on. $50 is still not profitable for most offshore, especially deepwater projects. it will be another year before we see any recovery, meaning $65. A long way to go to $100/bbl and I doubt there will be a hiring spree like in 2011/12. Better have a Plan B.
The sun will come out tomorrow. Bet your bottom dollar that tomorrow there'll be sun...
http://www.bloomberg.com/news/articles/2016-06-05/opec-optimism-masks-challenge-to-oil-s-rally-from-12-year-low