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re: is the price per barrel of oil dropping a bad thing?
Posted on 12/17/14 at 7:46 am to TigerSaint1
Posted on 12/17/14 at 7:46 am to TigerSaint1
It actually helps refineries because the raw product is cheaper.
1
Posted on 12/17/14 at 11:33 am to NOFOX
quote:
It actually helps refineries because the raw product is cheaper.
Correct
It's the upstream industry that is selling the product that will suffer
I'd say refining companies like Valero and Tesoro will be looking good
Most of the majors are diversified in upstream and downstream investments. I don't know that it would be a wash for them but I'd have to think they'll at least tread water for now. It could definitely make the majors rethink some of their large scale upstream investments though.
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