Quote:
Originally Posted by Slava
At least one analyst has called for $50 oil because of increased availability and production capabilities. I'm fully suggesting that we take those predictions with a grain of salt, because its only one report and who knows how reliable. That said, it happened with gas and the price drop was far more pronounced. Its a scary possibility for Alberta and Canada in general.
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I also saw a couple other analysts talk of $50-$60 oil because of more production and availability but how does oil drop that much? I get the that short-term supply might increase and put downward pressure on prices but overall oil supplies and estimated supplies in the world have reached their peak so wouldn't prices still remain somewhat constant or only slightly slower as opposed to a more dramatic move?