Oil price

[JustRalph]

Twitter

[JustRalph]

Is this true?

[PaceAdvantage]

May 2020 was the last time oil was around $25

On Jan 20 it was around $53

[JustRalph]

Originally Posted by PaceAdvantage

May 2020 was the last time oil was around $25

On Jan 20 it was around $53

I saw this quoted and a bunch of different prices. I guess the different grades cause bullshit like this

I didn't think it had gone up that much

[Rex Phinney]

America has taken a backseat production wise and given the keys to the bus back the middle east and Russia.


I'm sure there are people out there who believe those countries will play nice and keep the prices low, that greed will not set in and cause them to manipulate the prices higher.


Those people are stupid.


It will be $100 by June.


$125 by the end of August.


Watch.

[chrisl]

I have friends that are being called back to work on the slope, Prudhoe Bay

[OntheRail]

Originally Posted by PaceAdvantage

May 2020 was the last time oil was around $25

On Jan 20 it was around $53

That's baking in Briben.. look back to 11\2\20


Closed At
11/02/2020 36.81 467,629 35.24 37.15 33.64

So Oil has almost double due to Joe....

[PaceAdvantage]

Originally Posted by OntheRail

That's baking in Briben.. look back to 11\2\20


Closed At
11/02/2020 36.81 467,629 35.24 37.15 33.64

So Oil has almost double due to Joe....

Welp, the original post in this thread was based on a tweet that stated it was $25 "WHEN TRUMP LEFT OFFICE."

That info was dead wrong.

So this has nothing to do with baking in Biden or whatever.

Here is the chart of oil, with inauguration day highlighted (when TRUMP LEFT OFFICE).

[OntheRail]

Originally Posted by PaceAdvantage

Welp, the original post in this thread was based on a tweet that stated it was $25 "WHEN TRUMP LEFT OFFICE."

That info was dead wrong.

So this has nothing to do with baking in Biden or whatever.

Here is the chart of oil, with inauguration day highlighted (when TRUMP LEFT OFFICE).

I'm not disagreeing with you. Was just pointing out the Briben effect, hence the Baked in on the 20th.

[SkunkApe]

Oil prices increase with increased economic activity. As the world economies recover from the virus, oil prices will go up. This is good.

[lamboguy]

i am guessing that within 3 years, the price per barrel will be under $25 again.

i remember the days with a smaller population where there were 4 corners and gas stations on all of them. today there are none on any corner and lots of gas stations closing. i just drove through a town yesterday and counted 8 closed on Main Street with old names of the stations still with signs up. when you go to parking garages you see spots all full for electric vehicles. Lyft and Uber drives all have either hybred or electric cars. homes are being built now with solar panels that heat the homes.

[FakeNameChanged]

Originally Posted by Rex Phinney

America has taken a backseat production wise and given the keys to the bus back the middle east and Russia.


I'm sure there are people out there who believe those countries will play nice and keep the prices low, that greed will not set in and cause them to manipulate the prices higher.


Those people are stupid.


It will be $100 by June.


$125 by the end of August.


Watch.

Opportunity knocks.

[davew]

a year ago, the futures market went below zero as there was little storage available and over supply

[alydar]

I would be surprised to see oil go any higher than $80 a barrel. Not sure if it can get that high. Worldwide demand will increase over the next year, but supply will soon follow. There are many suppliers that will jump in, as higher prices emerge. In addition, if some countries got their act together, there would be a significant increase ins supply. Libya, Iraq, and Venezuela would love to sell more oil. Established producers like Saudi Arabia and Russia also need to sell oil, to support their own budgetary needs, not to mention US fracking. The days of $100 and up oil prices are not likely to be seen anytime soon, baring some international crises.

[FakeNameChanged]

Originally Posted by alydar

I would be surprised to see oil go any higher than $80 a barrel. Not sure if it can get that high. Worldwide demand will increase over the next year, but supply will soon follow. There are many suppliers that will jump in, as higher prices emerge. In addition, if some countries got their act together, there would be a significant increase ins supply. Libya, Iraq, and Venezuela would love to sell more oil. Established producers like Saudi Arabia and Russia also need to sell oil, to support their own budgetary needs, not to mention US fracking. The days of $100 and up oil prices are not likely to be seen anytime soon, baring some international crises.

Can't argue with your prediction. The three methods I use to predict price, range from $83, up to $102-118 per bbl. I think that this year is the back end of that international crisis, you mentioned. Meaning the pent up demand to travel, drive and go places when people couldn't do it for over a year. I've heard that baby boomers have taken the place of college kids going on spring break.