Oil Price Predictions?

Oil prices were pushed artificially low by the U.S. And Canada to hurt Russia financially. Yes it is hurting us but it is. Hurting them more. Russia's economy has dropped like a stone. It will come back but not for awhile yet. Lol. Maybe when Russia gets the hell out of the Ukraine. Oh I forgot they are not in the Ukraine, and oil dropped on its own.

 

There will always be a need for crude haulers, Oil will probably stay where its at for awhile unless a war or something happens.

My grampa retired from crude hauling and his advice to me was the opposite of what everyone on here is giving out. That is to stick with the smaller mom and pop outfits that been around for 20 or more years. They have personal relationships with whoever needs the oil moved. The good ol boy network i guess you would say. The bigger outfits only care about profits for the shareholders and are always buying and selling each other out.

 

I predict it will go up. Then down. Then up again. Then down. Then up. Then down.

 

I don't think its the US keeping prices low, I'm pretty sure its Saudi Arabia. They did the same thing int he 80s... kept prices low, drilling didnt really start kicking till 2008. It would be nice if it went back up a lot sooner but I wouldn't count on it.

 

The U.S and Canada didn't push oil prices down. It is counterproductive to this administrations "green" energy agenda. It was OPEC that pushed their oil prices so low that it became unprofitable for the US to compete. Saudi Arabia can survive on $10/bbl oil. Here, anything less than $35/bbl is unsustainable. Hell, you saw what $45/bbl oil did to the US oilfield. Russia was a byproduct of OPEC's greed...not to mention that their economy was very fragile to begin with.

 

Donald Trump wants to bomb all of the oil fields in Iraq, so if we elect him, I guess that's a start.