Oil Boom

[Adampilot93 0]

Who can roughly estimate the time frame on when the oil industry booms again in the US? I been watching the oil prices fluctuate over the past month. I’ve recently seen an article that the industry will pick back up the second half of 2020. How true is that?

[notsonice + 1,259]

32 minutes ago, Adampilot93 said:

Who can roughly estimate the time frame on when the oil industry booms again in the US? I been watching the oil prices fluctuate over the past month. I’ve recently seen an article that the industry will pick back up the second half of 2020. How true is that?

When a vaccine is developed and fully disbursed plus 12 months

[Ironflimmer + 18]

There is a huge difference between a BOOM in US oil industry or a BOOM in oil prices.

If it is the entire oil industry in US you are referring to, then there is a serious treat to the industry at this time and by August there might not be any industry left in the US, if things keep going this way.

If prices start going up soon again, some of the industry might be saved, but it will have taken a severe blow and investors will not be coming back anytime soon and many rigs and fields will be permanently shut-in.

If you're referring to oil prices, then they will come back around July/August, depending on when supply has come down sufficiently and demand has risen again.

[BillKidd + 139]

Field price being paid here for sweet crude is $6. How bad is that! Ah, better than $3.

I don't think it's possible to predict when another boom will occur. With the way things are going and the world due for a major correction / depression / reset, maybe never? Maybe limp along forever now, a fraction of what it used to be? That's a scary thought. OTOH, war could break any day, oil goes to $80 and off we go again. If war were ever close, it's getting close, seems to me.