Oil prices could go below sixteen dollars a barrel!

Is the crashing of the oil market good for the world economy?

  • Yes

  • No

  • I do not care as long as I can get cheap gas!


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Bruce_T_Laney

Platinum Member
May 27, 2014
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Royal Bank of Scotland a few days ago issued a warning that the price of oil could bottom out at sixteen dollars a barrel, but I believe it could go below ten dollars a barrel with Iran now being able to sell their oil to Europe and India.

Royal Bank of Scotland warns clients to ‘sell everything’

Iran oil headed for India, Europe, with sanctions lifting

The drop of oil prices is great for the average consumer but it will wreak havoc on economies like Russia, Canada, and even here in the United States where state economies like Texas rely on the energy and oil industry.

So as we celebrate the idea of lower oil prices some will understand that with the lower price of oil mean jobs being lost and massive layoffs to come even more down the road.

So what will be the bottom price of oil this year?

Also imagine if Iraq was fully online and was able to pipe it oil through Syria to feed Europe with their oil?
 
You are looking at the wrong Metric. This price war is being funded by sovereign wealth funds. When they run out of money the high cost wells will close, pipelines will be built to reduce shipping costs to bring more wells on line and then rinse and repeat as needed. This cycle will repeat until a substitute for drilled oil is found.
 
I love how the financial media is always late to the party. Oil is not crashing- it's already crashed.

Looks like it's time to go long oil.
 
This is a conflict for sure. I'm just too broke and in need of cash to not be happy about the low gas prices.

I question whether or not America will finally begin to lead the way on futuristic/sustainable energy now that the flood gates have been opened.
 

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