RE: Like when they popped the financial bubble in 2008? (nm)
Posted on: March 7, 2022 at 17:56:09 CT
KC rules MU
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Nothing like that at all. Oil prices are artificially high because the industry has not been drilling many wells over the past two years due to extremely low prices. Even with high prices, it takes a lot of time to drill enough wells to meet demand and these are complicated wells with even more complicated completions that require a lot of time to first production.
Oil prices are cyclic. The price of oil will come down. Most likely by late summer.
Edited by KC rules at 18:01:03 on 03/07/22