Economy 53,112 Posted August 20, 2015 Share Posted August 20, 2015 http://fortune.com/2015/08/20/oil-prices-30-dollars-barrel/ one of the largest banks in America Citi Group is forecasting a 90% chance oil will go all the way down to $30/barrel by fall a continuing oversupply, end of summer driving season, continued slowdown in China and Japan (1st and 3rd largest crude consumers) and a resilient shale industry are proving difficult to correct the imbalance additionally OPEC is still fighting for market share by raising production instead of cutting production to lift prices Link to post Share on other sites More sharing options...
PartySick 174,375 Posted August 20, 2015 Share Posted August 20, 2015 So what does that mean for gas prices? They're already as low as $2.40 a gallon here And, again, congrats on being so smart and knowing about this stuff, Economy Whimsical bitch Link to post Share on other sites More sharing options...
Economy 53,112 Posted August 20, 2015 Author Share Posted August 20, 2015 So what does that mean for gas prices? They're already as low as $2.40 a gallon here And, again, congrats on being so smart and knowing about this stuff, Economy it should bring prices down further. How much depends on the crack spread (gap in price between crude oil and refined products) the oversupply is in oil not in refined products so dont expect gasoline to fall AS much as oil itself though it still should to an extent Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted August 21, 2015 Share Posted August 21, 2015 So what does that mean for gas prices? They're already as low as $2.40 a gallon here And, again, congrats on being so smart and knowing about this stuff, Economy pretty soon they will pay you to fill up....8-) also, Economy reads the financial news, so it makes him mo-Smattah .... like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
PartySick 174,375 Posted August 21, 2015 Share Posted August 21, 2015 pretty soon they will pay you to fill up....8-) Awesome! Now all I need is a car Whimsical bitch Link to post Share on other sites More sharing options...
Economy 53,112 Posted August 21, 2015 Author Share Posted August 21, 2015 pretty soon they will pay you to fill up....8-) also, Economy reads the financial news, so it makes him mo-Smattah ....lol whats that? Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted August 21, 2015 Share Posted August 21, 2015 lol whats that?lion king was mo-fassaheconomy is finance king ...mo-smattah.... 8-) like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,112 Posted August 26, 2015 Author Share Posted August 26, 2015 lion king was mo-fassah economy is finance king ...mo-smattah.... 8-) thanks for complement Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted August 26, 2015 Share Posted August 26, 2015 https://finance.yahoo.com/news/schlumberger-buy-cameron-14-8-101740875.htmlSchlumberger to buy oilfield gear maker Cameron "deal valued at $14.8 billion (9.5 billion pounds) to cut costs amid weak drilling activity"Fallout from oil price drop.... Big rich companies will get bigger and richer ... little guys will get stomped like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,112 Posted August 26, 2015 Author Share Posted August 26, 2015 https://finance.yahoo.com/news/schlumberger-buy-cameron-14-8-101740875.htmlSchlumberger to buy oilfield gear maker Cameron "deal valued at $14.8 billion (9.5 billion pounds) to cut costs amid weak drilling activity"Fallout from oil price drop.... Big rich companies will get bigger and richer ... little guys will get stompedCanadas largest Oil company (Suncor Energy) plans to take over smaller Canadian companies They have low debt, big balance sheets and cash reserves, lower operating costs than most due to efficiency, and a big refining business as well helping to offset losses in oil extraction itself They are expected to post profits this year almost as big as last years even as most Canadian companies post losses in the energy sector. I actually own some stocks in Suncor Link to post Share on other sites More sharing options...
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