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Predicted Oil Collapse Underway...

Discussions about the economic and financial ramifications of PEAK OIL

Re: Predicted Oil Collapse Underway...

Unread postby C8 » Sat 16 May 2020, 20:20:52

rockdoc123 wrote:anybodies guess is probably the answer as there are lots of moving parts to the equation.
I think the weekly EIA report should be a decent guide to how much is being produced. Demand will come back slowly I would expect but with things opening up and there still being most of the summer driving season ahead of us we might see gasoline supplies start to decrease at which point the refineries increase their throughput and the overall supply of oil starts to drop further.
I think the rate of demand increase is probably going to be the driver here which will be helped along by lower production.


thanks again for the reply, you are a real resource. I have heard more people will be driving this summer to avoid airlines so, hopefully, demand will perk up. The great thing about big oil price changes is that they usually create such a dramatic industry reaction that its not uncommon for prices to rebound to the other extreme from where they were as too much production goes offline.
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Re: Predicted Oil Collapse Underway...

Unread postby REAL Green » Tue 26 May 2020, 06:18:12

EIA

US Net Imports:

file:///C:/Users/16364/Downloads/chart%20(1).pdf
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Re: Predicted Oil Collapse Underway...

Unread postby BrianC » Tue 26 May 2020, 13:57:45

that is a local file location we cannot see the file
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Re: Predicted Oil Collapse Underway...

Unread postby REAL Green » Wed 27 May 2020, 01:03:41

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Re: Predicted Oil Collapse Underway...

Unread postby ROCKMAN » Tue 02 Jun 2020, 07:45:37

C8 - So true. For those unable to search historical price charts: the current price "collapse" is the 9th since 1970.
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Re: Predicted Oil Collapse Underway...

Unread postby JuanP » Tue 02 Jun 2020, 15:18:17

C8 "I have heard more people will be driving this summer to avoid airlines ..."

More people will be driving private cars than ever before, not only to avoid planes, but to avoid buses, trains, trolleys, minibuses, taxis, Uber rides, cruise ships, and the infrastructure related to them; ports, airports, bus stops, stations, etc.. People will also be more reluctant to share rides on their cars, too. Both vacations and commutes will change, at least temporarily. Add to that very low gas prices, and I expect an increase in car driving, with, maybe, a negative adjustment for increased unemployment. Traffic in Miami already is almost as bad as it ever was, but there are very few planes in the sky.
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