Looks like oil is on rise today!!! Currently over $51 at the moment. Let’s hope and pray it keeps on rising.
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2021 Oilfield thread...
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Yeah, gonna get real very soon. Been hearing of most all service crews and exploration side started moving everything out of the North due to Biden restrictions on public lands. Being Texas is mostly private, its fixing to get busy. Feel bad for everybody up north, Eagleford is on track to loose another 10% first half of this year just due to wells maturing. Demand will come back and we will not be in the position to plug the hole due to lack of inventory to keep up with demand, I see $100+ easily in the future.
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Supply and demand. 90% of the operators aren’t drilling right now, so naturally the price is going to tic up a bit. Once the number of wells go back up, that supply will go right back to where it was. I wouldn’t rush out and buy those drawers just yet. It’s gonna be a while and the biden klan will attempt to stop all domestic drilling, so expect foreign oil imports to increase and gas prices to skyrocket. It’s their plan, they want you jobless, penny less and homeless.
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