Long Run Explor Ltd Ord WFREF

Oil Supply a 80 Yr. Historical High!

[groupguru]

Apparently its only low yield Rigs being taken off-line, Supply is at an 80 Year Historical High - We have a huge Oil Glut  - Could Oil actually go to $20 dollars a barrel in the near future - Hope Not!
https://www.marketwatch.com/story/oil-volatile-ahead-of-us-inventory-data-2015-02-11
 

[Sumcan2]

We have a huge Oil Glut  - Could Oil actually go to $20 dollars a barrel in the near future It could if the traders want it to, but it would be very temporary in my opinion. Why would even the Saudi's sell their resources at cost for any amount of time. Supply at a 80 year high. Of course it is, demand is also close to an 80 year high, the world has not stood still. Hopefully

[sapiensunus]

If oil makes a two or three handle there will be bigger problems with the DOW and the TSX. That would mean the "R" word. GWH

[johnathamilton]

Lower 48 production: up 409,000 BPD since Oct. 3, 2014 versus last 4 weeks ~ 340,000 BPD.