Oil Prices Hit One Year High
Discussion in 'Oilfield Trucking Forum' started by Pintlehook, Oct 10, 2016.
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That's a good thing. Hope it goes to $60
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And it crashed today. The fundamentals are still wrong. Oil won't be back for some time to come.
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Problem is if you watch the market, the volume of excess oil has no bearing on the actual price. Saudi Arabia makes a reference to possibly capping or cutting output and the price immediately spikes. Then Iran says they won't cooperate in an output cap and the price dives. The amount of surplus hasn't actually changed.
Dye Guardian and A21CAV Thank this. -
I just checked and it's $49.52 for WTI. How is that a crash?
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Every customer I talk to is ramping up and hiring. A recent RigData article noted there will be an estimated 30% increase in rig count in the next year. Revenue is up for me, especially in the last month
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Thank god cause I don't know how flatbed rates could get much worse ...i go through the field at big springs tx alot and see an uptick there however slight .
Carrizzo springs still appears dead but did notice a power crew working on the lines going into the man camp a couple weeks ago . -
gerardo1961, Lepton1, AlexFromMD and 1 other person Thank this.
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We should start a war and get it over a hundred
Dharok, Lepton1, bzinger and 1 other person Thank this.
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