The current bickerings between Iran and Saudi Arabia may have an impact on oil prices whether positive or negative. And with the world prices of oil dipping very low, it can happen because of the alternative energy that some countries are using. Yesterday my husband had a trip to the nearby province and he was surprised to see the windmills erected on the mountains. That means the electric supply of the province is cut in half. And if all the provinces would have windmills then their dependence on oil will greatly be lessened. That would definitely affect the oil price in the world.
Well I am enjoying the low price of oil. I hope that it stays around for awhile. it is nice when the price of everything else going up, something is actually going down in price. I think it is amazing that we can get the services we are looking for. It is an option that many people can use.
It is expected that oil prices will stay low the whole of this year and maybe part of next year. Consumers can for a year enjoy the low oil prices while they still can because things might change this year . . . http://foreignpolicy.com/2016/01/06...a-10-year-low-theyre-not-going-to-stay-there/ Just speculation though.
Contrary to popular opinion, fossil fuels are not actually a scarce commodity. The price of oil more readily reflects the political situation in the world at any given time, more than it does the minutia of production on the ground, so to speak. The West is in a death spiral with Russia at the moment, and they believe that low oil prices will hurt Putin more in the long term. Listening to analysts, it seems that this price trough will continue for quite a while, so I'd take a position based on that if I was going to be as prudent as possible.
The price of the stuff is hitting rock bottom at the moment and it hasn't been this low for getting on ten years. Sadly it's not really reflecting at the pumps however. Petrol and Diesel should be well below £1-per-litre in the UK, however it's still hanging on just above the £1 mark at the moment.
Oil prices are going even lower thanks to Saudi Arabia's squabble with Iran. Do any of you think oil prices will hit $16 or even $10 a barrel eventually? There's some speculation that it's possible . . . http://www.theweek.co.uk/oil-price/60838/oil-price-predictions-of-fall-to-16-and-even-10 Iran is about to emerge from years of international sanctions and stands ready to bring 500,000 additional barrels of oil per day to a market already oversupplied to the tune of up to two million barrels. This is triggering a price war that is adding further weight to prices. Reports have emerged that Saudi Arabia is slashing prices for its crude in Europe to try and prevent its customers buying from Iran as the market becomes another forum for what has been dubbed an "economic war" between the two countries.
It's not reflecting pumps, that's good decision by your Govt. to keep oil prices stable in future, this is good step. Oil crashed in just 2 years, so, need some more time and You are from UK. In Future, BOE interest rate hikes are expected, so, you have to wait some more years. Oil touched 10year low, so, It need some more time.
It's been said here in Britain that the price of petrol at the pump is now simply made up of the tax that the government is putting on it. Not done the sums myself, but I doubt it's very far off. I still can't shake off the feeling that this is a long-term trend, but we'll know more in another quarter I guess.