When Will Crude Hit $40/barrel again?

Discussion in 'Trading' started by PohPoh, Apr 23, 2008.

When Will Crude Hit $40/barrel again?

  1. Never

    79 vote(s)
    66.9%
  2. 2008-2009

    7 vote(s)
    5.9%
  3. 2010-2011

    9 vote(s)
    7.6%
  4. 2012-2013

    16 vote(s)
    13.6%
  5. 2014-2015

    7 vote(s)
    5.9%
  1. And you can also make the case that alternative forms of energy and the use of new technology ( that comes online at much higher prices ) did not really exist in a "commercial" capacity, either.

    Demand is only one part of the equation, albeit an important one. But the last time I checked, there was no "moratorium" declared on global recessions . . .
     
    #31     Apr 24, 2008
  2. eagle

    eagle

    Without insult and just a reminder for those guys who voted "Never" may forgot that objects are subjected to gravity. There is development on going to use alternative energy such as hydrogen, ethanol. When people get crewed, they will revolt to escape.
     
    #32     Apr 24, 2008
  3. gnome

    gnome

    Do you think oil could drop to $40 even if a world wide recession? Doesn't seem likely to me... Used to be the oil world was run by "how much the Americans used and how OPEC responded"... that has changed a lot.
     
    #33     Apr 24, 2008
  4. Ccal831

    Ccal831

    More like when will it hit $200... aka 2009
     
    #34     Apr 24, 2008
  5. gnome

    gnome

    A friend of mine bough some Dec 09 200 calls back when oil was around $75... He says, "if it gets to $220, he's golden"...
     
    #35     Apr 24, 2008
  6. and you have been long since.....?
     
    #36     Apr 24, 2008
  7. I think $40 crude would be something like 1.12 EUR/USD. And a dollar index of....what? 88?
     
    #37     Apr 24, 2008
  8. But even just a mere 10 years ago it had a lot to do with Japan and Asia-Pacific. The Asian currency crisis that developed in 1998 really put a damper on oil demand from that region.

    That, combined with OPEC's interest in "flushing" out marginal producers in order to obtain marketshare were the key ingredients that went into oil hitting $10.00 after renegade producers like Venezuela did not march to the OPEC tune of 2.58 million barrels per day production. ( Venezuela was > 3.0 mill per day ).

    http://money.cnn.com/1998/03/10/markets/oil/
     
    #38     Apr 24, 2008
  9. Not quite.

    Back in 1998 the Dollar Index spent the first 8 months of the year range-bound between 98 - 102, before it "broke" down in the Fall to 91 before rebounding in Nov back to 97.
     
    #39     Apr 24, 2008
  10. piezoe

    piezoe