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re: WTI Crude north of $72 today. Where is everybody?
Posted on 4/19/18 at 4:20 pm to crazyLSUstudent
Posted on 4/19/18 at 4:20 pm to crazyLSUstudent
quote:
Do basic economics apply to the price of barrel of oil?
Yes
The big thing going for Shale right now is that consumption is hitting record highs and growing with OPEC and Russia drawing back on production.
Mid 2019 or early 2020 when OPEC and Russia decide to ramp up production again is when we could see things start to fall if consumption isn't 10-15% higher than what it is today
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