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Title: OPEC leader: Oil could shoot back to $200 Post by: Chef Ramsay on February 04, 2015, 01:18:04 AM Quote Finding a bottom: According to recent comments by the Secretary-General when he was in London, the oil market doesn't need to look for oil prices to bottom as the market has already bottomed. Instead, he offered quite bullish comments by saying, "Now the prices are around $45-$55, and I think maybe they [have] reached the bottom and we [will] see some rebound very soon." Normally that type of remark would be just another layer of noise, but this is coming from OPEC's Secretary-General so it comes with a lot of weight behind it. That said, he's not saying that OPEC will come in and rescue the oil market by reversing its previous decision to hold steady on production. Instead, he sees the signs that the oil market is self-correcting as oil companies have made deep cuts to spending, which will eventually lead to lower production growth. More...http://money.cnn.com/2015/02/03/investing/oil-price-rebound-opec-200/index.html (http://money.cnn.com/2015/02/03/investing/oil-price-rebound-opec-200/index.html) Title: Re: OPEC leader: Oil could shoot back to $200 Post by: bryant.coleman on February 04, 2015, 03:50:15 AM No. It will never happen. The supply is growing at a rate, which is much higher than the growth in demand. And remember that even now, some of the oil producing regions (such as South Sudan and Libya) are not producing crude at normal levels, due to political instability and other factors.
Title: Re: OPEC leader: Oil could shoot back to $200 Post by: Lethn on February 04, 2015, 04:00:24 AM No. It will never happen. The supply is growing at a rate, which is much higher than the growth in demand. And remember that even now, some of the oil producing regions (such as South Sudan and Libya) are not producing crude at normal levels, due to political instability and other factors. You aren't taking into account hyperinflation, even with a good supply $200 a barrel is a very real possibility with the amount of money being printed in the world. Title: Re: OPEC leader: Oil could shoot back to $200 Post by: bryant.coleman on February 04, 2015, 05:48:33 AM You aren't taking into account hyperinflation, even with a good supply $200 a barrel is a very real possibility with the amount of money being printed in the world. Inflation in terms of USD will never reach more than 10% a year. So oil at $200 a barrel is a very very distant possibility. IMO, not possible in this decade at least. Title: Re: OPEC leader: Oil could shoot back to $200 Post by: Lethn on February 04, 2015, 05:49:50 AM You aren't taking into account hyperinflation, even with a good supply $200 a barrel is a very real possibility with the amount of money being printed in the world. Inflation in terms of USD will never reach more than 10% a year. So oil at $200 a barrel is a very very distant possibility. IMO, not possible in this decade at least. You're completely underestimating the amount that is being printed and borrowed. Title: Re: OPEC leader: Oil could shoot back to $200 Post by: b!z on February 04, 2015, 06:49:40 AM Oil could also shoot back to any other price.
Title: Re: OPEC leader: Oil could shoot back to $200 Post by: AnyYes on February 04, 2015, 08:14:55 AM Perhaps in his dreams
Title: Re: OPEC leader: Oil could shoot back to $200 Post by: Snail2 on February 04, 2015, 09:30:47 AM Finding a bottom: According to recent comments by the Secretary-General when he was in London, the oil market doesn't need to look for oil prices to bottom as the market has already bottomed. Instead, he offered quite bullish comments by saying, "Now the prices are around $45-$55, and I think maybe they [have] reached the bottom and we [will] see some rebound very soon." Maybe some correction will happen after such a big fall but a serious rebound... that's a very optimistic scenario. Title: Re: OPEC leader: Oil could shoot back to $200 Post by: Malin Keshar on February 04, 2015, 11:49:03 AM No. It will never happen. The supply is growing at a rate, which is much higher than the growth in demand. And remember that even now, some of the oil producing regions (such as South Sudan and Libya) are not producing crude at normal levels, due to political instability and other factors. the supply is determined by the producers, specially from Arabic countries. If they wanted they could make it crash harder or simply let most of the west with no oil Title: Re: OPEC leader: Oil could shoot back to $200 Post by: Ingatqhvq on February 04, 2015, 11:57:50 AM Of course they wish the price rise up to $200, but it's just a dream.
Title: Re: OPEC leader: Oil could shoot back to $200 Post by: BillyBobZorton on February 04, 2015, 06:10:07 PM Oil could also shoot back to any other price. BTC has more chances to shoot up than oil for now.Title: Re: OPEC leader: Oil could shoot back to $200 Post by: jaysabi on February 04, 2015, 07:50:41 PM Shoot back to $200? Was oil ever $200 before? I don't think it has been in the last 5 years, I'm not sure about before then. Also, didn't some Saudi Prince recently go on the record saying he's sure oil would never again hit $100? I'm pretty sure there was a thread about that in here recently.
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