Oil Prices Slump to 11-Year Lows in Asia and Europe

[mikewillda]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

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[bitcoinboy12]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

[valta4065]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

Bah it won't be so low for long. You can't do anything against that, it's a supply demand market with limited supply and growing demand.

[romero121]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

Bah it won't be so low for long. You can't do anything against that, it's a supply demand market with limited supply and growing demand.

No this time the situation is not as previous, in which there will be a price rise after reduction. Now the market has surplus availability than demand which will continue which makes price low for long run.

[mikewillda]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.

[nichu]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.

they are planning to stock the oil to sell when the price rises,they have already had contracts with india to store oil

[mikewillda]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.

they are planning to stock the oil to sell when the price rises,they have already had contracts with india to store oil

There is almost to storage capacity now. The oil tanks are full of oils now. So the oil has to be dumped to the market.

[botany]

Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.

Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.

If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.

they are planning to stock the oil to sell when the price rises,they have already had contracts with india to store oil

There is a storage cost as well as opportunity cost associated with stocking oil. It might be cheaper to not produce (i.e. do not extract - store crude in oil wells). So it might make sense to sell now, even if the price of oil is expected to increase.

[coinzat]

the problem of oil price is there are some countries which their economy is depending completely on selling their oil. and even when prices continues falling, they will not stop producing and the market will not rise again. it is time to make more researches on the renewal power as oil mining may cost more than its value in the next few years

[HeroCat]

It means that there are some oil traders, which trade a lot of oil in the market. 

[viavalenttt]

Is it cheaper to mine bitcoin now? Oil prices dropped but the electricity cost has not changed!

When oil price drops, we were told that electricity is generated from natural gas/coal; when the oil price increase, we were told this directly affect the cost of electricity.