I just hope it can stay that way. Hopefully there won't be price jump after the producers cut the output
Too much froth was developed when it boom ranged to $ 147. The excesses have been suitably shaved off.....and the present economic conditions will prevent any meteoric rise..at least in the near future. Regards, RightMan
Well now Oil rates might not go higher as much as we seen at $147. But do also mind that Opec might cut the production in next few weeks so rate might go back to $70 to $100.
Sucked in to OPEC and all its members. What goes around comes around. Karma. They are half the reason the world is in a recession now. Guess they will only be able to buy themselves 50 brand new mercedes each this year instead of a hundred.
Receding oil costs should mean (amongst other things) a decrease in the price of everyday consumer goods. Short-term, it will be good for the economy. Although when demand rises again, when the economy begins to grow, whatever short term benefits that existed will disperse. The volatility of oil costs hurts any long-term investment in oil exploration. We can not hinder our focus on alternative energies.
I think the oil price has already hit the lowest point, and it's about time to going up straight again... So, guys. You're better fasten your seat belt and hold on lol