When will oil prices go back up

Discussion in 'Oilfield Trucking Forum' started by Luke628, Feb 7, 2016.

  1. Luke628

    Luke628 Light Load Member

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  3. truckthatpassesyouby

    truckthatpassesyouby Road Train Member

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    Never.

    & that Obama tax on oil. I bet that's big oil wanting superficially raise price because they're supposedly defaulting on their debts
     
    Last edited: Feb 7, 2016
  4. uncleal13

    uncleal13 Road Train Member

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    One of my investment news letters said two years ago that it would go down to $23. It hit $26 and change recently. Maybe $50-60 in a year or two. But who really knows.
     
  5. Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    Not for a long time now that they lifted the Iran embargo. Iran says that they will get back at the Saudis, get ready for the price war's.
     
  6. truckthatpassesyouby

    truckthatpassesyouby Road Train Member

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    I don't even think it's price wars. I think American oil can't stay in business if they keep cutting production + compete with an innundated oil market.
     
  7. Chewbongka

    Chewbongka Light Load Member

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    The Saudis have said they intentionally dropped the price of oil to bankrupt the American fracking oil production. This is common knowledge.

    I wouldn't expect the price to rise for another year or two because any longer and the Saudis will be causing more damage to themselves than the US markets.
     
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  8. DUNE-T

    DUNE-T Road Train Member

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    When Putin is not gonna be president anymore
     
  9. americanmadetrucker

    americanmadetrucker Logistical Engineer

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    Sanctions lifted in the middle East on Iran gives the world an additional 1 million barrels a day. Don't help prices at all.
     
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  10. RVTransporter

    RVTransporter Light Load Member

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    The Saudis break even at $15 a barrel. Don't expect a significant rise in prices for at least a year.
     
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  11. Luke628

    Luke628 Light Load Member

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    They say booms don't last forever, but bust don't last forever either. Don't think we'll see $100 a barrel anytime soon. But would be happy if it at least got back to the $50 range this year.
     
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