That is a great quote to illustrate just how afraid those guys are. GREAT JOB AGAIN TERRYLNDN!!! You are the BEST, as ALWAYS!!!
Yeah...and in the meantime YOUR INVESTMENT MONEY HERE IS TRAPPED. If you had any brains, you would have listened to me weeks ago.
Not that difficult if you do your research. That said, there is no definite price, but the concensus is that oil goes lower from here. Jim Cramer says $43, other say $40, some say $32, some $28. All are lower than where we are now.
peace2all247, if you are referring to me, then you are a moron. Because oil demand IS down. However, OPEC expects demand to be up slightly for 2015 and 16, but ....CHINA is slowing in their demand, and they're a big customer. By the time the dust settles for 2015, OPEC will only know the figures AFTER the fact when they tally up their 2015 sales in 2016.
It doesn't matter if Saudi Arabia is maxed out. Iraq and a bunch of other countries are picking up the slack, including USA.
Obviously the "fearing oil is going to zero" wasn't meant as a literal statement, just one that encapsulates the idea that oil is probably going to go "very low".
angietheapple, you are an idiot. You have obviously done ZERO research on this. The last 10 years is when China was growing like crazy. The oil producers were not producing enough oil to meet the demand, so prices went up. Now they ARE producing enough to meet demand, but China is not growing anymore; and they are starting to decline. Add to that the frackers in the USA were adding in 9 million barrels.....PER DAY. The oil industry is bracing for a long period of low oil prices, possibly 5 years or more.
"Equity analysts in particular are becoming very bearish," Michael Hiley, a commodities analyst at LPS Partners in New York, said over the phone. "They're afraid that oil is going to zero."
Yes, but....I was right and you weren't. Who's the moron now, MORON???? Hahahhaaaaaaa
We may now go down to 79 cents.
Yeah Nick, I have a thought that you're a CON MAN trying to push a site that's SOoooo bad that they have to PAY YOU to tell others about it.