Quote from spanish89:
LOL
Mate leave trading oil to the us who know whats we are doing!
Seriously do not even go near oil, it will fuking burn your account to nothing, and then still come and beat you up some more!!
But if your stubborn please please go and buy oil now at a few £10 t £100 per tick, and then when your a millionaire in a few weeks il be your butler!! : D
(Il even take the other side of your buy trade!)
Oil isn't going anywhere near $200 for the exact same reason taht it didn't last time, and that i had been saying since the 135s, and why i made so much selling it off all teh spikes up, and then flat out crushing it back down....
OIL CAN ONLY BE $200 PER BARREL IF ORDINARY PEOPLE CAN ACTUALLY AFFORD TO BUY IT FOR THAT MUCH!!
And look at the economy mate....
The USA is going to 2nd world country when we are barely at $100, its in trillions and 100s of trillions of debt, and there is basically now quick way out of this, except a washout and restart of economy.
Opec 'could' manipulate the oil price by just cutting and hacking away at production, but saudi arabia is way way wayyyy smarter than the USA or the UK at business, and so they wont do that.
You want to know why??
Because in business there are 2 flows-
*Revenue
and
*Cash profit
For the saudis they get that oil out the ground and barreled up and ready to sell for something like $6 - $8 per barrel!!
So they dont give a fuk what the price per barrel is, as long as its over $30s + the lower the price x the higher revenue number of barrels sold = roughly same overal profit as when oil was high price per barrel but barely and sold.
Many people couldnt afford $147 oil and its consequences and IT STILL WENT THERE. Airlines freaking out, consumers freaking out... to say it cant go to $200 because people cant afford it is just silly...