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Long Run Explor Ltd Ord WFREF

Energy Oil & Gas E&P
"Long Run Exploration Ltd is engaged in the development, exploration and production of oil and natural gas in western Canada."


GREY:WFREF - Post by User

Long Run Explor Ltd Ord > Manipulation
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Comment by emmitton Mar 16, 2015 12:14pm
129 Views
Post# 23525636

RE:RE:RE:RE:RE:RE:Manipulation

RE:RE:RE:RE:RE:RE:ManipulationI would agree that OPEC has manipulated the price in the past by cutting production. OPEC is  now letting the market set the price for oil. If you read OPEC's March report it doen't look like there will be much change in the supply/demand fundemantals for the rest of 2015. We could be under $60 for the rest of 2015.
When oil was $100 I understood that it was too high based on supply and demand fundementals. I beleived then and I beleive now that eventually the price of oil will make it's way back to the cost of production and sit somehwere in the $70-80 range. It will take some time to eliminate the over supply and guaranteed it will overshoot on the way up but I think it will settle in around $70-80. I'm glad that OPEC has stopped the price manipulation and they are letting the market decied the price.
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