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Your saying that you are not certain that oil will trade at least at $65 by year end ?
Yes, I would be surprised if oil went above $65 by year end. Like I said, it could go either way, which is why you shouldn't view it as a sure thing. Just understand buying these is considered high risk. Don't bet your retirement on it. It is not a CD with a maturity date.
It will close for a while then it will open em up, then dollar will devalue, then new oil contracts will mature... There is allot of forces that will drive up oil prices. No oil producing nation wants to keep oil prices this low. For us in the US, us pumping oil is a nice political position, but most oil producing countries depend on profits from it.
Yes, I would be surprised if oil went above $65 by year end. Like I said, it could go either way, which is why you shouldn't view it as a sure thing. Just understand buying these is considered high risk. Don't bet your retirement on it. It is not a CD with a maturity date.
what is the sequence of events that will push the oil prices below what's it cost to pump ?
what is the sequence of events that will push the oil prices below what's it cost to pump ?
Supply continues to exceed demand. Storages are reaching capacity. The US is producing more oil than ever. Saudi Arabia wants to keep prices low. The chart you provided differs greatly from numerous sources I've seen. Saudi Arabia's breakeven is between $20-30.
Supply continues to exceed demand. Storages are reaching capacity. The US is producing more oil than ever. Saudi Arabia wants to keep prices low. The chart you provided differs greatly from numerous sources I've seen. Saudi Arabia's breakeven is between $20-30.
The chart I have provided seems accurate for every-one but Sudi ?
The chart I have provided seems accurate for every-one but Sudi ?
Believe whatever you want about global supply, no one here can make anywhere near accurate predictions about where oil will be a year from now. What we do know is the US dollar is extremely strong relative to other currencies, and this will keep oil prices low (independent of supply and demand) in the short to medium term.
Believe whatever you want about global supply, no one here can make anywhere near accurate predictions about where oil will be a year from now. What we do know is the US dollar is extremely strong relative to other currencies, and this will keep oil prices low (independent of supply and demand) in the short to medium term.
Dollar is to strong, since we do export import with other countries and we are going to increase the interest rates. This Dollar strength is not going to keep though this year. But changing dollar value will not make me a super rich in oil alone, it's only a contributing factor.
Dollar strength also means that thing are to expensive to produce at home and might make it expensive for other courtesies to do business with us. many 3rd world nation that serve our economy peg dollars so that this situation does not harm their dependency of serving me.
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