The price of Oil

Discussion in 'Chit Chat & Introductions' started by kahoona, Jan 15, 2016.

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  1. kahoona

    kahoona Well-Known Member
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    This may seem a strange subject to post in a window cleaning forum but for those who are interested Crude Oil continues to make new low prices in the financial markets.

    Why has the price of oil got so low and what dose this mean to us windies?

    First question is very complex to answer and involves global economics, but basically its down to the simple laws or supply and demand and right now there is an over supply of the black stuff and weakening demand

    The reasons for the oversupply are complex but the general consensus in the financial world it that Oil is likely to continue to go lower. Most of the big financial institutions are down grading their outlook for the oil price.

    What dose this mean for us?
    Probably the most obvious effect is cheaper diesel & petrol, some analysts are even saying we could see £0.86p per liter! For anyone who uses heating oil for their home will benefit.
    The low oil price also helps keep inflation low.
    Some companies will also be winners, big fuel users like the airlines, weather we will see that lower cost in their business translate to lower ticket prices remains to be seen. Other winners are the big road haulage companies, you the guys who get all that food and stuff into our supermarkets etc.

    However theres always a down side, & we might want to spare a thought for the 250K oil workers who have been laid off!

    So inclusion make the most of the cheap fuel prices and fill up your vans before 02 June - the date of the next Opec (Oil producing countries) meeting, they set policy that defines the price of oil!

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  2. Markyboy 50

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    I've turned my heating up a couple of degrees cos heating oil is half the price it was
     
  3. Solarpanelcleanington

    Solarpanelcleanington Forum Addict
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    Third of what it was 5 year ago!!! Cheaper than wood or coal.
     
  4. TolishAPurd

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    Good thread.

    I can sense another war coming.
     
  5. Solarpanelcleanington

    Solarpanelcleanington Forum Addict
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    There's always another war coming.

    Iran are about to have trade embargoes lifted. This will bring oil down even further.
    The yanks fracking makes a big difference and the slowing of the Chinese economy.
     
  6. afo

    afo Member
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    Turkey our allies are buying and selling oil off guess who and making a fortune........ any one want to make an educated guess.
     
  7. kahoona

    kahoona Well-Known Member
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    Turkey, Russia Syria, Isis!!!
    There are quite a few conspiracy theories flying around, US & Saudi's colluding to undermine the Iranians, political agendas driving production cuts, so on.

    One thing is very likely, theirs going to be a lot buyers sitting at $10 per barrel. and that liquidity is going to drive some short term volatility, good conditions for the savvy traders to profit i suspect, IF price dose get that low.
     
  8. Markyboy 50

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    Still got me heating up high. Ain't got a clue what you're on about kahoona
     
  9. kahoona

    kahoona Well-Known Member
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    Sorry Marky got me Friday evening rambling head on. Ignore me & I'll go away ;)
     
  10. Markyboy 50

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    Lol
    lol ok mate :thumbsup:
     
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