Experts warn that the Canadian dollar will remain weak over the coming months, with
oil prices going down and revenues falling.
But as of now, OPEC just upset everyone's forecast for
oil prices going forward.
How low can
oil prices go?
Gasoline retailers decided to make some money, spring vacationers drove up demand, crude
oil prices went up, and gas refineries continued to undergo seasonal maintenance, resulting in tighter supplies.
Just imagine what that could mean for Canada under a new, rewritten NAFTA that triggers a renegotiation whenever the U.S. develops a trade deficit with Canada: when
oil prices go up, trade rules for other goods from cars to cattle could be rewritten, creating uncertainty for exporters.
From 2002 to 2012,
oil prices went from about US$ 25 per barrel to more than US$ 100 per barrel, leading to a jump in our national income.
When
oil prices go up, that means the global economy is better, and when oil goes down, supposedly that's a reflection of a much weaker economy.
«If
oil prices go to $ 110 a barrel (bl) or $ 115 / bl, gross domestic product (GDP) growth in Russia might be even stronger next year, at over 2 percent [but] we estimate growth is likely to remain positive only with oil prices above $ 92 - 93 / bl.
My experience from previous booms and busts is that they will find their balance after creating chaos everywhere and as soon as
the oil prices go back up they will resume their old ways and blame the royalties again for the disaster.
The final issue is just how much oil is left in the Permian and other shale oil basins that can be produced at wherever
oil prices go.
This means that when
oil prices go down, USD / CAD goes down and USD weakens.
«When
oil prices go up, fertilizer prices go up.
«If they had used 50 % of the money we made, when
oil prices went as high as $ 143 dollars per barrel, and stabilized at $ 100 dollars with production at 2.1 million barrels per day for many years, Nigerians would have minded their businesses.
And we have stayed true to that vision, even as
oil prices went into freefall, we ramped up investments in infrastructure, as well as our social spending.»
Previously, it was oil revenue that dominated the budget, but the negative shock in the decline of oil revenue makes government to start thinking differently, and they should continue in this path, even if in future
oil price goes up.
Oil theft, pipeline vandalism Whether
oil prices go bullish soon or not, other stakeholders feel that the benefits of the rise will be lost on Nigeria, if the government does not deal decisively with the twin incidence of pipeline vandalism and oil theft.
When in 2015
oil prices went even as low as between 28 and 35 dollars a barrel and oil production fell to less than one million barrels a day we had no buffer, no savings, to tide us through.
«If they had used 50 per cent of the money we made when
oil prices went as high as $ 143 per barrel, and stabilised at $ 100 with production at 2.1 million barrels per day for many years, Nigerians would have minded their business.
Suppose
oil prices go up to $ 150 a barrel.
Plus, when
oil prices go through a slump, he said, the government support of alternative fuel sources wanes.
The house prices just kept going up and up and up as
the oil price went up and in 2014 oil prices are $ 100 a barrel, it's all great.
My only concern is that the dividend will be very low for next couple of quarters, therefore no benefits but the capital gain could be very important the day
the oil price goes up.
With economic growing steadily, market in a RISK on mode,
oil price going higher, this bull market could head north for another 4 - 5 years taking into account any possible flash to reach ~ 90000 YES, ming - boggling number ~ 90000 before market collapse half Almost everyone says that it is IMPOSSIBLE to predict the future price.
You know,
oil prices go up, gas prices at the pump go up, everybody goes into a flurry of activity.
We'd hear a lot of urgent talk in Washington when
oil prices went up, then we'd see politicians rush to the local gas stations --- I remember going to gas stations — holding press conferences, announcing new legislation.
(It's worth remembering that when world
oil prices go up, we get no special deal from Canada.)
And I'm quite certain they believe they can get all the drilling they want as soon as
oil prices go back up.
oil prices go back up, savings will be even bigger).
Oil prices go up, and food prices go up anyway.
You don't see
oil prices go up like this or gold.
Where
oil prices go from here will help determine how much the economy grows next year.
Not exact matches
Say I'm running Esso right now, and I need to raise my
price by 5 cents because the cost of crude
oil went up.
It comes as little surprise then that Saudi Arabia and Iran — apart from the tense regional archrivalry — are reportedly at odds over where to
go next with the OPEC deal, and how high an
oil price the cartel should target.
People are conditioned to expect some
price increases, just like we're conditioned to expect gas
prices to
go up or down with the
price of crude
oil.
But if it's longer than that — which does look possible — we're
going to see a significant rise in the
price of crude
oil, and in the
price of refined products, especially in Western Canada.»
«The business model of an
oil and gas company in the future is
going to have to be built around the abundance model, where your returns are not
going to be made by commodity
price increases,» says Munro.
«We all know that the
oil prices are
going to come back around again and we're
going to need those people,» he says.
Part of the problem is the bust that is
going on in the junk market due to the drop in
oil and gas loan
prices.
The home of Canada's once
go -
go energy industry has suffered this year from lower
oil prices, putting a drag on incomes.
«The bottom line is they're committed to holding back supply from the market, which combined with the continued decline of PDVSA in Venezuela is
going to make for higher
oil prices,» said Kilduff.
Long
gone are the days when Saudi Arabia acted as the so - called «swing producer» in the global
oil market, when it would increase or decrease production to keep
prices stable and profits high.
«If the
oil price is
going down, it's very difficult to stand in front of that speeding train and hope you are in the one or two stocks that aren't highly correlated with the downward movement,» says Randy Ollenberger, an analyst with BMO Capital Markets.
«Don't just take a punt on the
oil price, because the path of recovery is
going to have its ups and downs.»
When the spread between West Texas Intermediate crude
oil and Western Canadian Select narrowed to US$ 10 a barrel last summer, some analysts declared that the big
price differentials were
gone for good.
«Also, the more we produce
oil,
prices will
go down.
«The issue is there's always a concern now that the market is
going to get flooded again with
oil and
prices are
going to come back down,» Khan told CNBC.
Oil briefly
went below $ 40 a barrel on Friday, its lowest
price since the financial crisis six years ago.
Sinclair attributes the higher
prices to a combination of factors including «the effects of the production cutbacks by OPEC and non-OPEC foreign producers finally kicked in, not to mention speculative money
going into crude
oil futures.»
??? But the
price of corn is
going to be high enough that people are
going to want to plant corn, only that corn acreage is
going to come in and infringe on the soybean,» he says, adding that increased Chinese demand for soybean
oil will mean fewer acres for cotton — putting even more pressure on an industry that's already feeling the pinch.
«As a general rule, Iran, as a populous country, is
going to favor higher
oil prices, but that doesn't always hold up case to case, and they've been more flexible lately.»