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Renegade Petroleum Ltd V.RPL



TSXV:RPL - Post by User

Comment by hawk35on Oct 04, 2013 8:55am
166 Views
Post# 21790440

RE:RE:RE:Too much Optimism

RE:RE:RE:Too much Optimism
The biggest risk remains the price of oil.  Two countries in the middle east whose production pretty much collapsed are starting to ramp up production.  Both Mexico and Venezuela who have seen production fall in the last five years are both increasing production again.  Add to this shale, fracking and a general increase in world wide production because of improved technology and you have a path to lower oil prices.  Analysts expecting the above changes to send oil back to 90.00 a barrel.  If countries try to undercut each other than mid 80's is possible.  This is not long term but short term (12 to 24) month predictions.
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