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ELK PETROLEUM LIMITED (ASX:ELK)METGASCO LTD (ASX:MEL) - Oil is on its way out., page-11 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Oil is on its way out., page-11

  1. 23,467 Posts.
    lightbulb Created with Sketch. 110
    You are correct.

    I have read somewhere that Saudi Arabia can produce oil at less than $13 dollars per barrel. So, in doing what they are doing, many oil producers which cannot produce at these low levels, they will be forced out of the market.

    And....as you say....the price of crude will eventually go back up to the $100 dollars mark.
 
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