oil

[froggy]

http://www.nytimes.com/interactive/2016/business/energy-environment/oil-prices.html?_r=0

 

[eagle1462010]

At work they are saying the oil could go down to $16 a barrel. I work at a refinery.

 

[froggy]

At work they are saying the oil could go down to $16 a barrel. I work at a refinery.

would that bring it down below a dollar at the pump

 

[tyroneweaver]

ruh roh. Russia will be in deep doo doo
Their budget is based on 50 dollar oil. And their reserves are expected to run out fairly quickly.

Next Big Future: Russia's Reserve Fund could be depleted in 2016 without massive budget cuts

 

[eagle1462010]

At work they are saying the oil could go down to $16 a barrel. I work at a refinery.

would that bring it down below a dollar at the pump

Not sure. It would go lower of course, and about 55 cents of it is taxes as an average.

It's an economic War. One to drive out and bankrupt the competition by the Saudi's and to crush the Russian Rubble. Primary reason there is that they want to go off the Petro dollar.

As your article stated, companies are headed towards bankruptcy...........Lay offs are happening.............and if it keeps going down I may have to go work somewhere else as the Contractors may get run off the site over this. This from the operators who are in the know there.

 

[Bruce_T_Laney]

At work they are saying the oil could go down to $16 a barrel. I work at a refinery.

I read in one report it could even bottom out at eight dollars a barrel.

What is the likelihood?

Royal Bank of Scotland is projecting it at sixteen dollars a barrel.

 

[eagle1462010]

At work they are saying the oil could go down to $16 a barrel. I work at a refinery.

I read in one report it could even bottom out at eight dollars a barrel.

What is the likelihood?

Royal Bank of Scotland is projecting it at sixteen dollars a barrel.

Saudi Arabia can keep dropping the price as they have very deep pockets. They may very well do so to take out the competition. It's working on them and Russia.