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Oil price is the metric to follow

Posted on: March 9, 2021 at 17:50:14 CT
KC rules MU
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It was about $62/barrel (and volatile) before covid hit and it's $66 today. During the demand bust companies both curtailed production and essentially stopped drilling. Given that so much of the US production is from unconventionals wells which deplete rapidly, if there no drilling it will take a while to ramp production back up when prices are more stable (because the wells need to be drilled and put online). You will see prices rise until early-mid summer when drilling and production will again outpace demand and prices will drop back off.

Edited by KC rules at 18:01:06 on 03/09/21
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First hundred days....gas prices double. FU joe. Nm - BandG MU - 3/9 14:01:31
     Simply a function of returning demand - KC rules MU - 3/9 15:44:52
          I could agree with that if gas wasn't cheaper before ... - BandG MU - 3/9 16:23:11
               Oil price is the metric to follow - KC rules MU - 3/9 17:50:14
                    you are way to reasonable to be posting here - Central IL Tiger MU - 3/9 20:41:04
     Isn't that capitalisms solution to get off fossil fuels? - Ace A - 3/9 14:16:53
          Until you can travel long distances in all electric ... - BandG MU - 3/9 14:53:08
               you can travel long distances in all electric vehicles (nm) - ashtray UF - 3/9 16:22:38
                    Sure... if you want to stop every 300 miles to recharge... - BandG MU - 3/9 16:25:36
                         and it will be 600 miles in the next two years - ashtray UF - 3/9 16:29:57
                              No sh.it...but until it gets there gas is a more efficient.. - BandG MU - 3/9 18:45:48
                                   no sh*t... but it's not like it's that far off - ashtray UF - 3/9 19:29:37
               if you can't afford a few extra bucks per tank - Ace A - 3/9 14:59:46
                    Oh dear 🤦‍♂️ (nm) - MIZ45 MU - 3/9 17:22:55
                    I can afford it but why pay more for something you don't.. - BandG MU - 3/9 15:08:26
                         if the price of gas is higher, you *need* to pay the higher - Ace A - 3/9 15:16:10
          If it is the free market deciding it.(nm) - TigerMatt - 3/9 14:18:24
               A free market doesn't "decide" anything - Ace A - 3/9 14:29:32
                    A dead wife doesn’t for sure(nm) - Panthera MU - 3/9 14:47:42
                    Sure it does.. - TigerMatt - 3/9 14:31:19
                         stick to writing code - Ace A - 3/9 14:35:48
                              console.log('Go f**k yourself'); (nm) - TigerMatt - 3/9 14:52:27
                              print("Go f**k yourself") (nm) - TigerMatt - 3/9 14:51:09
                    Spoken like a true fascist (nm) - mizzouSECedes STL - 3/9 14:31:17
     We are almost halfway through the first 100 - 4TigersinMichigan MU - 3/9 14:04:52
          address Congress? (nm) - TigerJackSwartz MU - 3/9 15:16:31
          Deep state just needs him to do as much damage as fast - hokie VT - 3/9 14:43:17
          you forgot... - ashtray UF - 3/9 14:07:39
          rrreeeeeeeeee - JayHoaxH8r MU - 3/9 14:06:00
               RE: rrreeeeeeeeee - MOCO SON MU - 3/9 14:17:46




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