Joined 3 years ago. People tell me that prices go up and down, bo-m and bust cycles. That makes sense but it now feels that it'll never go up, almost like this is a systemic change. Not sure, it's just my gut feeling but I wanted to see if people with experience can chime in.
14 replies (most recent on top)
... joined 3 years ago...
I stopped reading right there
What the fk were you thinking?
Whatever is happening to you, you did it to yourself when you decided joining this excr-ment of company
Supply and Demand
@OP Apparently not, because they’re just whining about politics instead of pointing out that WTI/Brent Crude indices are both down more than 10%. Plenty of other easily searchable information that shows how this is being driven by market forces.
O&G will never see another major bo-m, and it’s not because of “teh big bad liburls n’ dem pesky reegulations.” It’s just supply and demand.
Why ask an old timer, I thought the young ones know all the answers…
because current HC10 don't do good job for exxon...that why exxon lay them of right now and start hiring more indian as expats to do the job..indian are very intelligent people..soon the price will go up again because of us...
I really hope you don’t work here, because that would mean you’re incredibly misinformed
https://www.statista.com/statistics/271823/global-crude-oil-demand/
There is pressure to pump up supply and drive prices down as part of the policy to weaken Russia, Iran, and Venezuela. Government policy can directly impact the supply demand equation.
Oil used to be “the king” because of the petrodollar system. Since the 1970s, crude was priced and traded in U.S. dollars, which kept demand for both oil and the dollar locked together. That gave oil an outsized influence on global economics but the arrangement is unraveling. Some BRICS countries are already experimenting with non-dollar settlement, and crypto has become a hedge for people worried about fiat currency. Oil still matters, but it doesn’t carry the same weight it once did. The new center of gravity is data and AI. Tech firms are the ones now paying top-tier salaries and driving market caps. Oil companies haven’t disappeared, but they’re sliding into the role of necessary infrastructure rather than an economic driver. So yes, oil may still cycle up and down a little, but the idea that it will always “bounce back” to dominance isn’t a law of nature anymore.
The only cure for low oil prices is low oil prices. The prices aren't truly LOW at the moment. They're just not high.
@OP Global demand is in steady decline and has been since at least 2019.
There will never be another O&G bo-m. Maybe a dead-cat bounce here and there, but the glory days are gone and never coming back.
And no, it’s not politics. It’s good old fashioned market fundamentals.
Trump Economics
@a8 i think the op gets the concept, the question was more about the causes and prospects
Basic supply and demand, obv you barely passed economics class
patience youngling...
you cannot time it, it'll eventually go up.
but, if the global economy crashes, things will go down.
china and renewables are not helping though