Oil will hit $20 pb by May

by **Schmuto** » Mon 13 Apr 2009, 09:44:26

$this->bbcode_second_pass_quote('kiwichick', 'I')EA 2008 study of 800 largest oilfields showed that 580 (72%) were declining in production

see archives 12/4/2009 re north sea

i'm happy to go with jim rodgers ; invest in commodities , water and food

by **Maddog78** » Mon 13 Apr 2009, 15:53:59

Interesting trading today. Dropped early on an IEA report but then managed to claw its way back above 50 bucks again.
I didn't expect the late rally. Doesn't look like it will go back in the 30's this year but who knows.
Even Nat. Gas opened up way down and it also managed to climb back to positive territory by $0.02.
Also a little surprising.

by **misterno** » Mon 13 Apr 2009, 22:50:57

Oil will rise not because of the demand but because of the dollars fall.

Simple as that

by **Blacksmith** » Tue 14 Apr 2009, 00:31:53

$this->bbcode_second_pass_quote('misterno', 'O')il will rise not because of the demand but because of the dollars fall.

Simple as that

by **yesplease** » Tue 14 Apr 2009, 02:04:19

Yup. Even dropping back to the low of ~70, which is pretty low by historical standards, would only bump up oil to ~$60/bbl. We would need to see economic strength and/or another round of production cuts by OPEC, which is a weak global market aren't very likely IMO, to see $70/bbl in a few months.

Oil will hit $20 pb by May

Re: Oil will hit $20 pb by May

Re: Oil will hit $20 pb by May

Re: Oil will hit $20 pb by May

Re: Oil will hit $20 pb by May

Re: Oil will hit $20 pb by May

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