Economy 52,959 Posted July 14, 2015 Share Posted July 14, 2015 Plus China's economy and manufacturing is slowing reducing some demand...some annalists are predicting a complete price collapse back to 10 and 20 dllr a barrel...I think that is a reach tho, would have to have total peace in the Middle East for oil to drop that low imo... Total peace in the Middle East will come when Iran Israel and Saudi Arabia all sit down and sing coom by yah for a while ..... lol$10 to $20 isnt the consensus. Its extreme bears and really it depends on speculators. With storage reserves so full and daily over-production as high as it is, by supply and demand the price should be lower than it is now but investors buying the extra oil hoping to sell it later at a higher price is creating artificial demand preventing price from falling below $50/barrel for now many will loose money if prices dont rebound soon. Storage hubs charge a monthly fee to use their space to store your oil and investors hoping to sell their oil at a higher price later must keep paying this fee month after month Link to post Share on other sites More sharing options...
Goosey 3,017 Posted July 15, 2015 Share Posted July 15, 2015 Peace in our time! "I am the world's greatest person that does not want to let people into the country."—US President Donald J. Trump Link to post Share on other sites More sharing options...
Featured Posts
Archived
This topic is now archived and is closed to further replies.