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Oil price to collapse to $20 barrel
Comments
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I believe the cost of producing a barrel is $38+ a barrel (could be wrong).
Generally, less than that but obviously it depends on numerous factors.
Less than about US$25 and I reckon all the majors will start curtailing production. with or without OPEC.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
All a bit complicated. The here and now is that oil is rising at about 1.5% a day! Shall I buy my heating oil now, or will it drop back down in a month or 2? Forecourts are putting their fuel up by 1p a litre per day too..... Not happyNO to pasty tax We won!!!! Just shows that people power works! Don't be apathetic to your cause!0
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All a bit complicated. The here and now is that oil is rising at about 1.5% a day! Shall I buy my heating oil now, or will it drop back down in a month or 2? Forecourts are putting their fuel up by 1p a litre per day too..... Not happy
If this is the start of the recovery it will not be dropping back. But also it may not go up much either over the next two months.
Keep your eye on the £-$ exchange rate, that could change any moves in the oil market.0 -
Generally, less than that but obviously it depends on numerous factors.
Less than about US$25 and I reckon all the majors will start curtailing production. with or without OPEC.
I think it is over $60 with some of the more exotic methods of extraction eg oil sands.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
"Oil at $63 - its a bubble"
Could go down as another of Moneyweeks great quotes.
Does anyone actually subscribe to this nonsense ?US housing: it's not a bubble
Moneyweek, December 20050 -
kennyboy66 wrote: »"Oil at $63 - its a bubble"
Could go down as another of Moneyweeks great quotes.
Does anyone actually subscribe to this nonsense ?
That or Viz.
!!!!!! was a great believer, I wonder who he is now? normally easy to spot.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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