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Where is oil heading...

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    fishkiller41fishkiller41 Member Posts: 50,608
    edited November -1
    Obviously back up. Higher than any human has ever seen.
    It will be declared endangered.
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    JimmyJackJimmyJack Member Posts: 5,440 ✭✭✭✭
    edited November -1
    It will stay down until the Saudis drive the N Dakota frackers and other US drillers out of business with their investments in drilling rigs etc. They cant make money with their investments at present barrel oil prices. As soon as US oil suppliers dwindle, oil will fly back up.
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    AmishAmish Member Posts: 1,383 ✭✭✭✭✭
    edited November -1
    The way I see it, the charts are showing a 15 year bubble. To do this they sat on oil, capped off in Alaska. There has always been oil in Alaska. And now fracking too. So it looks to be heading down in the $20 to $40/bl range.

    Then, the US oil companies are going to start selling it to the EU. The US will become a major oil exporter. Should help the bottom line.
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