How low will the oil prices go?

How low will the oil prices go?
Sep 8, 2008 03:46
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	The oil prices is just like the roller coaster, sometimes high and sometime low. In January, it surged above 100 dollars. In the next six months, it has skyrocketed. On July 11, it reached 147 dollars per bucket. When some experts forecasted that it would be more than 150 dollars very soon, the oil prices started to drop. Just in one month, it has dropped more than 30 dollars. Really a surprise to us. Will the oil prices keep dropping or will it bounce back very soon? No agreement has been reached yet. Robert Mundell, the Nobel Prize laureate, says:" The oil prices are dropping and it will keep dropping. It might drop to 100 dollars, even 90 dollars." While some other economists don't agree with what he said. They think that the oil prices decrease was just a flash and it will bounce back very soon. What do you think, keeping dropping or bouncing back very soon?

Sep 8, 2008 03:46

JIMMYB
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Join Date: Feb 7, 2007
Status: offline

The oil prices is just like the roller coaster, sometimes high and sometime low. In January, it surged above 100 dollars. In the next six months, it has skyrocketed. On July 11, it reached 147 dollars per bucket. When some experts forecasted that it would be more than 150 dollars very soon, the oil prices started to drop. Just in one month, it has dropped more than 30 dollars. Really a surprise to us.

Will the oil prices keep dropping or will it bounce back very soon? No agreement has been reached yet. Robert Mundell, the Nobel Prize laureate, says:" The oil prices are dropping and it will keep dropping. It might drop to 100 dollars, even 90 dollars." While some other economists don't agree with what he said. They think that the oil prices decrease was just a flash and it will bounce back very soon.

What do you think, keeping dropping or bouncing back very soon?

Sep 8, 2008 08:58

WCTMAN
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Join Date: Dec 17, 2005
Status: Offline

You must look at the factors that influence the price of a bbl of oil. There are many factors, such as weather, seasonal demand, government policies of supplier nations, availability of shipping and / or pipelines, currency fluctuations, availability and viability of alternative energy sources, among others.

Making predictions is very difficult, especially predictions about the future. Did you know that if you lock 2 economists in a room, they will eventually come out with 3 opinions?

Sep 10, 2008 04:11

YVONNE
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Join Date: Nov 29, 2004
Status: Offline

Did you know that if you lock 2 economists in a room, they will eventually come out with 3 opinions?

Who makes the third opinion, haha? Seriously, The OPEC members seem not satisfied with the current oil prices. They say that the current oil prices are abnormal. It is said that they will meet together to discuss about this issue. If they decide to decrease the oil production, the oil prices will bounce to 150 dollars easily.

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