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Thread: Oil: Rapid Drop In Price

  1. #1
    Should Get Out More KorkyKat's Avatar
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    Default Oil: Rapid Drop In Price


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    Don’t expect it to show at the forecourt.

    ”Crude oil suffers longest losing streak since 1984.”

    https://edition.cnn.com/2018/11/08/i...ket/index.html

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  3. #2
    Should Get Out More ZRX61's Avatar
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    Default Re: Oil: Rapid Drop In Price

    Down 30c/gal here in a week.

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    Default Re: Oil: Rapid Drop In Price

    Down about 15c/litre in the past week here too

    Surprising. Most were tipping a continued price rise on the back of restricted supply a month back

  5. #4
    Should Get Out More Pax's Avatar
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    Default Re: Oil: Rapid Drop In Price

    Fracking hell.

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    Should Get Out More Deer Stalker's Avatar
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    Default Re: Oil: Rapid Drop In Price

    Trump went soft

  7. #6
    Should Get Out More slowsider's Avatar
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    Default Re: Oil: Rapid Drop In Price

    Saudi p.r. offensive ?

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    Should Get Out More irie's Avatar
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    Default Re: Oil: Rapid Drop In Price

    Very roughly speaking at $60 per barrel of crude oil the raw material cost of 1 litre of petrol is about 30p. So even another 10% drop in the price of crude oil would result in a raw material cost reduction of only about 3p per litre. About 44% of barrel is required to produce 70 litres petrol.



    Barrel = 42 US gallons = about 159 litres
    Last edited by irie; 10-11-18 at 11:14.

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  10. #8
    Should Get Out More Horse's Avatar
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    Default Re: Oil: Rapid Drop In Price

    Quote Originally Posted by Deer Stalker View Post
    Trump went soft
    Uh-oh - you'll have his lawyers on your case!

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