Will oil prices keep falling?

Question

I mean they have pretty much fell 10 dollars in 2 days...Let's have about 2 weeks of that and oil would be back at 75 dollars a barrel. I know that's really illogical to say, but I mean that's just simple math...could it be possible, and you won't hear CNN hear that...

They are still saying record high oil prices when you can flip the channel and you'll see 135 dollar oil and falling...

I don't get it...will it keep falling or go way back up?

And I do know why it is going down, refineries allowing more production. right?

Answer 1

I'm afraid so buddy. No doubt for about a 1year or 2 for real.

Answer 2

The to this may vary from CNN to Wall Street Journal. The answer seems to be that the oil peak has been reached. While oil prices drop so will the price of gas. If this occurs it will be a boon to our economy. Let us hope that this is not a tempo situation.  It is my opinion that the large gas companies purchased large amounts of oil and gas in advance long before the price of oil soared. The oil and gas companies purchased large a reserve  amount of this fuel in advance.  Some of these high prices should not have occurred.

Answer 3

I feel that the oil price will rise phenomenally... right now it seems like it is falling but it is a temporary respite... I think it will shoot right up.

The various refineries are facing issues...

For example...

Middle east refineries - political problems in that area is no secret. =p

Nigerian refineries - under producing because of political issues and also because of violent attacks by unhappy Nigerians who are angry with the corruption of their government.

Answer 4

The market dictates the price of oil. However, it is artificially high due to speculation in the market.

As it becomes more and more apparent that America is going to drill for oil, the threat of that takes away some of the risk of speculators and the price drops. We'll just have to see what happens over the next few weeks before we'll be able to infer anything.

Answer 5

Yes if we stop using it and when new technology steps in the greedy buggers cant eat oil

what we should do is put up the price of food to OPEC at the same rate as the rise in oil prices and i Guarantee the price of oil will drop

Answer 6

I hope the fall!! Or I won't be able to drive to work

Answer 7

no there will be rising up