Mar 2 2015, 11:58 PM
QUOTE(tishaban @ Mar 2 2015, 10:57 PM)
I agree it won't bounce back so easily. The US shale production isn't being produced by one single oil company but by many smaller oil companies who focus very much on US local production only due to the crude oil export ban that's been in place for several decades. No single entity can control all these companies, it's not as easy to control as Saudi's oil production.
In all likelihood there's going to be another dip in the near future as more storage fills up. $60 is the new oil normal for the near and mid term.
Wouldn't the low oil price reduce investors for the smaller companies? My impression was that the smaller companies are very sensitive to any dips in investment capital, thus much more likely to go bust because they were riding on the crest of the sky high oil pricesIn all likelihood there's going to be another dip in the near future as more storage fills up. $60 is the new oil normal for the near and mid term.
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