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You are here: MacNN Forums > Community > MacNN Lounge > Political/War Lounge > Crude oil - OPEC - go go gadget gas guzzling SUV Max

Crude oil - OPEC - go go gadget gas guzzling SUV Max
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Ham Sandwich
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Mar 9, 2020, 02:38 PM
 
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( Last edited by Ham Sandwich; Apr 23, 2020 at 10:38 AM. )
     
Brien
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Mar 10, 2020, 01:45 AM
 
This + virus = recession? Hope not!
     
RobOnTheCape
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Apr 27, 2020, 03:20 PM
 
Now that a barrel of oil is hovering around $13.00 a barrel, doesn't it make sense to invest in oil? The pandemic will eventually pass, factories around the world will reopen, and once the oil sitting in the super tankers, and storage facilities around the world dry up, then the demand will increase. Not only that, but the US shale industry has a higher price per barrel profit number than other oil reserves. Seems that oil could jump significantly in perhaps a year - Could we see $100 - $120 per barrel by then?
     
Thorzdad
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Apr 27, 2020, 03:45 PM
 
Originally Posted by RobOnTheCape View Post
Could we see $100 - $120 per barrel by then?
Weren't oil prices already on a downward trend before COVID happened? I can't imagine we'd see such a huge spike post-COVID, especially if we're in the middle of a wordwide recession/depression.
When I want your opinion,-
I'll read it in your entrails
     
RobOnTheCape
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Apr 27, 2020, 04:24 PM
 
But shale fields are closing up shop en masse and I think it's likely the larger will buy the bankrupt smaller drilling companies, and those fields may not go back on line until prices show it's profitable.
     
   
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