Thursday, January 21, 2016

Talk About Break even: $27 is what the barrel the oil comes in costs?

It seems that $27 might be the lowest a barrel of oil can go.
At $27, the cost of filling a barrel of oil is less than the purchase price of the barrel itself. While there is growing evidence that Saudi Arabia won't be rescuing the market anytime soon, legendary investor T. Boone Pickens believes that the U.S. may be able to balance the supply glut on its own.
It seems that rig count might finally be dropping and the bottom might be in when it comes to oil.

No comments: