{"title":"Oil at USD 20 per Barrel: Can It Be?","authors":"H. Duhon","doi":"10.2118/1015-0004-OGF","DOIUrl":null,"url":null,"abstract":"Can the price of oil fall to US 20/bbl? In a word: No. As I pondered what to write about for my column, the media reported that Goldman Sachs claimed that oil could drop to USD 20/bbl. Scary stuff. But when I read the article, the global investment firm said that oil price is volatile and could possibly fall to USD 20, and if it did, the price would quickly rebound. The oil price cannot be USD 20 for any long period because we cannot produce enough oil to feed the world at that price. But if the price of oil is based on supply and demand, how could it fall to USD 20 at any point in time? I am not an expert on the prediction of the future price of oil and certainly not on the dynamics of short-term price movements, so I visited the Internet.","PeriodicalId":19446,"journal":{"name":"Oil and gas facilities","volume":"2 1","pages":"4-5"},"PeriodicalIF":0.0000,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Oil and gas facilities","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2118/1015-0004-OGF","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 2
Abstract
Can the price of oil fall to US 20/bbl? In a word: No. As I pondered what to write about for my column, the media reported that Goldman Sachs claimed that oil could drop to USD 20/bbl. Scary stuff. But when I read the article, the global investment firm said that oil price is volatile and could possibly fall to USD 20, and if it did, the price would quickly rebound. The oil price cannot be USD 20 for any long period because we cannot produce enough oil to feed the world at that price. But if the price of oil is based on supply and demand, how could it fall to USD 20 at any point in time? I am not an expert on the prediction of the future price of oil and certainly not on the dynamics of short-term price movements, so I visited the Internet.
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