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Thread: Crude settles down 4.6%, lowest since June 2012

  1. #11
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    Re: Crude settles down 4.6%, lowest since June 2012

    What's ironic about this is that it's left the sweet spot that actually allowed for an explosion of economic activity because so many more oil sources became economically viable when oil was at the higher prices.

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    Re: Crude settles down 4.6%, lowest since June 2012

    Quote Originally Posted by humbolt View Post
    Oh, I didn't miss it. I chose to ignore it.
    ...interesting.

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    Re: Crude settles down 4.6%, lowest since June 2012

    Quote Originally Posted by Jetboogieman View Post
    What's ironic about this is that it's left the sweet spot that actually allowed for an explosion of economic activity because so many more oil sources became economically viable when oil was at the higher prices.
    There's an element of truth in that. However, as Brent prices approach $80/bbl, we should see production slowing then. I doubt that's going to happen. OPEC has not slowed production, and plans to continue at current levels for the immediate future. They're interested in maintaining market share, and I doubt US producer will shrink from that challenge. We can go a lot longer at that level than most of them can. And then there's Russia...

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