Since the dollar started its slide against most major currencies,specifically the euro,its lost roughly 35% of its value.If you value crude in 2000 dollars you'll find that oil would be in $22 to $24 range.Opec' adjustments of production,simply put, are measures taken to head off any losses opec may incur due to the declining value of the dollar.Thanks a bunch George and Alan.
whose responsible for $37/barrel oil
- Thread starter hollywood
- Start date
%%
If we had to put it simple-Mr Market did that
How do you see 35%? The U.S Dollar as per charts has lost way under 35% from the highs and Euro has not gone up 35%, Crude Oil started dropping when U.S.Dollar was going up middle of 2014. Where USA has gotten screwed again is the refineries making huge profits as they didn't allow gasoline to drop much.
EURO CURRENCY
And when the Dollar started to rise in middle of 2014
U.S.Dollar
Crude Oil started to go down.
Crude Oil
Good points Ha123,,,; but nat gas makes [ or made,LOL ] an extended downtrend.
Quite a few gas stations changed hands 2015, 2016; XOM bought some.... Your points maybe why I am seeing more ads for commercial -nat gas powered vehicles.
I hope "hollywood" was patient...Only took 12 years to receive a reply.
%%
Nothing quite like a long term trend; even though maybe not so many price gas or oil in 2000 priced $$.$$