Quote:
Originally Posted by Cowboy89
Very true, but tell that to the Saudi's as their storage facilities continue to build up. Inventories in Asia, Europe, and North America continue to build. China and India's demand will shrink with a US recession because they're economies are built to leach off of American consumer goods/services sales.
Yeah $150/bbl this July was the vicious oil spike everyone was talking about 5 years ago. I think speculators/investors will be a little gun-shy and actually keep the price lower than fundamentals for a few years after this meltdown.
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So realistically, what's the likely pricing range you have been hearing for the forseeable future?