Oil Prices Hit One Year High

That's a good thing. Hope it goes to $60

 

And it crashed today. The fundamentals are still wrong. Oil won't be back for some time to come.

 

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.

 

I just checked and it's $49.52 for WTI. How is that a crash?

 

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

 

We've been busy the past couple of months as well. Lots of drill pipe moving around again. Rigs starting to pop up. Lots of frac jobs going on. It's looking better and better.

 

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 .

 

I hope it goes 100.00

 

We should start a war and get it over a hundred