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Occidental Petroleum Corporation Message Board

  • marcplante marcplante Nov 8, 2013 3:37 PM Flag

    Iranian Peace

    There was an item on NPR the other night that started me thinking...With talks in the news about Iran and nuclear negotiations...the ramifications include a significant amount of oil coming into the world market, possibly depressing prices below attractive levels for higher cost US domestic production. Anyone run that scenario?

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    • The world is recovering after five years in the toilet. Commodity prices are abating. in the last 115 years there have been only 3 secular bull markets (1923 - 30), (1952 - 1968) and (1982 - 2000). All were accompanied by relatively low commodities. All the other periods in between were dominated by commodities and the market traded within a range. In the modern world oil is essential in any sustained economic period. There may be enough oil to keep the price from reaching $148 again: however, in an around $100 is most likely and E&P's can do very well at those levels.

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