Will oil price go up to $100/barrel?

Discussion in 'Business & Economics' started by Saint, Dec 7, 2016.

  1. billvon Valued Senior Member

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    Will go up slowly from this point forward.
     
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  3. Saint Valued Senior Member

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    Just read a report predicting it to go down below $50.

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  5. billvon Valued Senior Member

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    Unlikely. Tight oil is not profitable below about $60-$70.
     
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  7. Saint Valued Senior Member

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    What is oil price's trend now?
    Some analysts said will go down to 42 dollars.
     
  8. billvon Valued Senior Member

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    $32 a year ago, now $48. So trend is upwards.
     
  9. joepistole Deacon Blues Valued Senior Member

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    That's a possibility. The answer is no one really knows. Oil is down based on increased US production. It will be a balancing act. It always is. The bad news for oil bulls is American oil producers have become more efficient and lowered production costs. So based on that, and assuming OPEC does nothing else to limit supply, oil prices are headed downward. The unknown card here is demand. If demand increases owing to stronger economic growth there is a possibility oil prices will rise modestly or stabilize. It's a coin flip. My best guess is that oil prices will trade in a range between the mid 40's and mid 50's providing the US Congress provides some fiscal stimulus as Trump has promised. That's the great unknown at this point. Do we get a multi-trillion dollar fiscal stimulus package from Congress or not. If we do, it's bullish for oil prices. If we don't, it's bearish.
     
  10. Saint Valued Senior Member

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    What is shale oil?
    Does it have equal quality like deep sea oil?
    Can shale oil produce RON98 petrol?
     
    Last edited: Mar 19, 2017
  11. joepistole Deacon Blues Valued Senior Member

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    Shale oil is "light and sweet", those are good traits which make the oil easy to refine. Yes, RON 98 can be refined from shale oil.
     
  12. Saint Valued Senior Member

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    Is shale oil containing less contaminants as compared to oil from desert?
     
  13. joepistole Deacon Blues Valued Senior Member

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    By contaminants, I think you mean sulfur. Low sulfur oils are regarded as sweet. Attached is a reference listing producers of sweet oil.

    https://en.wikipedia.org/wiki/Sweet_crude_oil
     
  14. spidergoat Valued Senior Member

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    Generally no, quite the opposite. Shale oil is the dirtiest and has the lowest EROI.
     

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