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Future oil price?
Posted on 5/9/23 at 12:16 am
Posted on 5/9/23 at 12:16 am
Anyone have some good insight on what we should be expecting with future oil prices in this crazy world? I heard up to $100 per bbl by end of year, although WTI has been sliding the last couple weeks.
Will we ever see $30-40-50 per bbls ever again?
I posed this question on money board as I have an investment opp. In the NYOBRERA shale play outside of Denver, Co.
Just seeing what the poli board thinks may happen with all this global chaos going on.
Will we ever see $30-40-50 per bbls ever again?
I posed this question on money board as I have an investment opp. In the NYOBRERA shale play outside of Denver, Co.
Just seeing what the poli board thinks may happen with all this global chaos going on.
9
Posted on 5/9/23 at 1:01 am to Westbank111
If you don’t expect it to go down why wouldn’t you get involved now? Not a financial advisor *
Posted on 5/9/23 at 5:51 am to Westbank111
quote:
Will we ever see $30-40-50 per bbls ever again?
Yes, who knows when.
Posted on 5/9/23 at 6:50 am to Westbank111
I expect oil to dip pretty good coming up soon if the economy goes into recession which is expected.
Posted on 5/9/23 at 6:53 am to MorningWood
quote:
I expect oil to dip pretty good coming up soon if the economy goes into recession which is expected.
Agree. How much will it dip? Who knows. With declining inventories, the only reason oil is not much higher now is likely due to the threat of recession.
Posted on 5/9/23 at 7:35 am to Westbank111
OPEC is pissed about the paper market manipulation so they recently cut production without warning on a Sunday afternoon to punish the speculators. Prices went up and then the manipulation started again.
Expect new production cut announcement from OPEC and close to 100 oil this summer.
Here is an article discussing the last OPEC cuts to punish the speculators manipulating the markets:
Why did OPEC cut oil production? Key reasons explained
Expect new production cut announcement from OPEC and close to 100 oil this summer.
Here is an article discussing the last OPEC cuts to punish the speculators manipulating the markets:
Why did OPEC cut oil production? Key reasons explained
Posted on 5/9/23 at 7:36 am to Tigerfan1274
WTI trading at 72 this morning
WCS trading at around 60
DBO at 76
All have had a downward trend for a while.
If it settles at 60 it should be good for the consumer
WCS trading at around 60
DBO at 76
All have had a downward trend for a while.
If it settles at 60 it should be good for the consumer
Posted on 5/9/23 at 7:39 am to Westbank111
quote:
I heard up to $100 per bbl by end of year
Maybe.
quote:
Will we ever see $30-40-50 per bbls ever again?
Maybe.
Posted on 5/9/23 at 7:41 am to Westbank111
Oil price and US greenback dollar are inversely related. When the Fed increases interest rates, the USD gains strength in the global market. Investors seek the better (risk free) returns of US treasuries and divert less investment toward oil. This is one reason for recent oil price drops.
Posted on 5/9/23 at 7:45 am to Westbank111
OPEC loves it at $80. That is their benchmark.
Posted on 5/9/23 at 7:49 am to Westbank111
quote:
Will we ever see $30-40-50 per bbls ever again?
Only if Trump gets in office.
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