I agree and they will happly open up production at the higher price, but the drill rigs will not move until they recover their money
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Supply should play a significant role in dictating the price, but that doesn't seem to be reality at this time. Prices keep rising despite increases in supply. So, what then? Do companies turn a blind eye to rising prices and forfeit a possible opportunity to make money? It seems to me that it wouldn't matter why the prices are higher or what artificial forces might be propping them up, but rather the fact that they are up and could go higher even with supply continuing to rise with them.
What part of over supply isn't catching on?
http://finance.yahoo.com/news/us-oil-rig-count-falls-134601304.html
%100 Bully
You make money at 30 dollars a barrel. All oil companies are greedy the top CEO's always make a large salary and a very large bonus. Don't ever let them tell you they are about to go broke. Stand up for your pay raise and fight back.
bully
WTI trading at just under $48 right now. At what price does it become profitable again?
Lol
Yawn,