For all the people say the oilfield is dying....

Discussion in 'Oilfield Trucking Forum' started by bonder45, Feb 6, 2021.

  1. Brettj3876

    Brettj3876 Road Train Member

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    On thin ice
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    It's picking up again here in northeast pa too it looks like
     
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  3. RockinChair

    RockinChair Road Train Member

    WTI is at $62.40 right now.

    I find it hard to believe the oilfield would be dying when the barrel price is high enough for most producers to be profitable.
     
  4. God prefers Diesels

    God prefers Diesels Heavy Load Member

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    Holy smokes. Last time I payed attention was that month where the price fell into the negative. $62 bucks a bbl is enough for even the bottom dwellers to make money. Are we still in a glut? I really haven't kept my ear to the ground much.
     
  5. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    A lot of investors are a little gun shy about putting there money into the oil fields. Things will not ramp up as fast as most would like.
     
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  6. idriveaholden

    idriveaholden Light Load Member

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    yeah and its going to go a lot higher. probably 100$ a barrel by Q4
    get ready for much higher prices at the pump
    the problem is we aren't going to produce oil here. we're going to have to import it.
    last time oil was 100$ we produced most of our supply. not anymore
    the economic policies are going to be catastrophic for anyone in oil. bidens first day he ended the keystone pipeline. it's only going to get worse they have their 0% carbon by 2030 agenda ready to go in full motion
     
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