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Oil could crash to $10 a barrel, warn investment bank bears
Telegraph (UK) ^
| 12 January 2016
| Mehreen Khan
Posted on 01/12/2016 12:09:40 PM PST by Lorianne
click here to read article
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1
posted on
01/12/2016 12:09:40 PM PST
by
Lorianne
To: Lorianne
Can’t be. We are almost out of oil. Scarcity breeds high prices.
2
posted on
01/12/2016 12:12:45 PM PST
by
Norm Lenhart
(Existential Cage Theory - An idea whose time has come)
To: Lorianne
3
posted on
01/12/2016 12:13:37 PM PST
by
Paladin2
To: thackney
4
posted on
01/12/2016 12:14:09 PM PST
by
Army Air Corps
(Four Fried Chickens and a Coke)
To: Lorianne
Why can’t they give us stuff when we fill up like the old days?
5
posted on
01/12/2016 12:14:46 PM PST
by
central_va
(I won't be reconstructed and I do not give a damn.)
To: Lorianne
Petrol prices could fall back to levels last seen in 2009 in a $10-a-barrel world 2009? No. 1998~99.
6
posted on
01/12/2016 12:14:48 PM PST
by
thackney
(life is fragile, handle with prayer)
To: Paladin2
These kind of calls are fear mongering and signal a bottom is near imo
To: central_va
Do you really believe it was free?
Do you want them to inflate the price to pay for trinkets?
8
posted on
01/12/2016 12:15:43 PM PST
by
thackney
(life is fragile, handle with prayer)
To: Norm Lenhart
This is what happens when US leadership is so weak! OPEC has been driving this lower to STOP US investment at home.
This is why we need to negotiate from a position of power!
9
posted on
01/12/2016 12:16:15 PM PST
by
Solson
(Grand Old Party 1854 - 2010 RIP.)
To: Lorianne
I’m thinking that we’re close to the bottom. It might spike down, but I think we’ll hover in the upper 20’s for several months.
10
posted on
01/12/2016 12:16:19 PM PST
by
Cowboy Bob
(With Trump & Cruz, America can't lose!)
To: Lorianne
If some 90% of production shut down, it would certainly take care of any glut.
For some wells here in the US, it is still economically feasible to pump at even $10 a barrel, but even the Saudi oil fields would be struggling at those prices.
Everybody else in the world will be closing up shop. Russia for sure.
And Russia without oil to export is essentially bankrupt, even more than the US now is.
11
posted on
01/12/2016 12:17:13 PM PST
by
alloysteel
(If I considered the consequences of my actions, I would rarely do anything.)
To: thackney
I like the humiliation factor.
12
posted on
01/12/2016 12:17:28 PM PST
by
central_va
(I won't be reconstructed and I do not give a damn.)
To: thackney
No. 1998~99. Yep... I remember selling for $12 around that time, while I was with Louis Dreyfus.
13
posted on
01/12/2016 12:17:51 PM PST
by
kjam22
To: Solson
It’s also why we need to put liberals in cages. No matter where they originate.
14
posted on
01/12/2016 12:18:30 PM PST
by
Norm Lenhart
(Existential Cage Theory - An idea whose time has come)
To: Lorianne
Doesn’t matter where it sinks to in terms of the number.
A great opportunity is coming since you can’t produce oil profitably at this price level. The glut will go away over time due to lack of production, while many companies go broke from debt overhang.
The nimble will prosper as they pick up the pieces.
15
posted on
01/12/2016 12:18:55 PM PST
by
SaxxonWoods
(Trump and/or Cruz, it's all good.)
To: Solson
There are hundreds of Free Traitors that have told me numerous times it is evil to try to protect any US industry with tariffs, caps or embargoes for any reason at any time.
16
posted on
01/12/2016 12:19:56 PM PST
by
central_va
(I won't be reconstructed and I do not give a damn.)
To: thackney
Shiny things are better than smoke and mirrors....
17
posted on
01/12/2016 12:20:31 PM PST
by
Paladin2
To: Lorianne
Never thought I'd hear falling oil prices are a bad thing.
18
posted on
01/12/2016 12:23:09 PM PST
by
McGruff
(Trumpnado Warning issued for Iowa and New Hampshire)
To: alloysteel
The Saudis can produce oil cheaply but still need a price of over $100 a barrel to pay for their government spending.
Their high production play is temporary as their cash reserves will be gone in less than 5 years at these prices. I think they underestimate the ability of the USA to quickly shrink and grow its energy industry depending on conditions.
The Saudis have no economy without oil. The USA is much more diversified.
19
posted on
01/12/2016 12:31:01 PM PST
by
SaxxonWoods
(Trump and/or Cruz, it's all good.)
To: Lorianne
Still will be above $2 in some states like Washington.
20
posted on
01/12/2016 12:31:13 PM PST
by
SkyDancer
("Nobody Said I Was Perfect But Yet Here I Am")
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