Can we see era of $ 35 easy oil again?

I think most probably oil will stay around $35 level in 2009 due to lower world growth and recession.nnAny other thoughts. Thanks. .

Best Answer

spider348 answered a question in Commodities.
475 points

spider348 answered one year ago …

I hope so . I just bought a 12 mpg, gas chugging, SUV tank-like beast. Buy'em while they are cheap. I think we will see a 'reversion to mean'. The extreme parabolic spike countered by the severe over sell-off back to mid range which will be over 50bbl

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Romankowal answered a question in Commodities.
102 points

Romankowal answered one year ago …

Dream on baybe.

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rvilmur answered a question in Commodities.
991 points

rvilmur answered one year ago …

Peak oil is real, current oil fields are being depleted, and new exploration will be reduced due to the current lower oil prices. As the cure for high oil prices was stupidly high oil prices, the cure for low oil prices is low oil prices. Demand will rise, depletion will increase, and new exploration will not fill the gap.

I don't think that oil prices will drop to $35 at all and will be much higher in 2009 even with world recession as inventories are fully adjusted to the new economic reality. With gasoline prices way down now, those SUV's will start to sell again.

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