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Oil price drops to below £45 a barrel

Community Veteran
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Oil price drops to below £45 a barrel

DAK what does it cost to get a barrel of oil from the north sea? must be below the break even point by now Huh
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Community Veteran
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Registered: 12-08-2007

Re: Oil price drops to below £45 a barrel

Prices of petrol at the pumps seems a little slow to react. I paid £117.9p this week which is the best I've seen it for a long time. Hopefully there's more to come.
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Re: Oil price drops to below £45 a barrel

I've been looking at refilling our central heating oil tank before any nasty winter weather  Cry
The price today for 2000L is more than £100 cheaper just than three months ago  Smiley
and £135 cheaper than five months ago !.  Cool
Choosing the best time to buy in bulk is difficult when the price continues to fall !  Roll eyes
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Re: Oil price drops to below £45 a barrel

@ Purleigh.... thinking "logically".... it won`t fall another £35 in the next 5 months..... and anyway.. in 5 months time, you won`t be needing so much, as winter will / should be over ! ! ...
unless it falls "dramatically".. by , say £1.00 per ltr... you are not going to "save" much by waiting a week  or two... and, of course there is the risk that it might just shoot up by £1.00 per ltr as the arabs decide there is enough oil to go round, and stop producing.........
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Re: Oil price drops to below £45 a barrel

this may give an indication that things aren't too bad for most of the existing fields although new ones would be a different kettle of fish
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Re: Oil price drops to below £45 a barrel

Quote from: shutter
@ Purleigh.... thinking "logically".... it won`t fall another £35 in the next 5 months

WRONG !
Two days ago I was quoted £963.90 for 2000L
Today it is now £921.90
Thats a fall of £42 in two days !  Crazy
Community Veteran
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Re: Oil price drops to below £45 a barrel

Well, There`s no logic in logical thinking then ! ! ! ...  Cheesy
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Re: Oil price drops to below £45 a barrel

Quote from: journeys
DAK what does it cost to get a barrel of oil from the north sea? must be below the break even point by now Huh
Dunno, but it's probably doing Alex Salmond's arithmetic no good.  Shocked
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Re: Oil price drops to below £45 a barrel

118.9L for petrol round here today. Think derv was at 124.9L
I need a new signature... i'm bored of the old one!
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Re: Oil price drops to below £45 a barrel

Time to buy up 20L jerry cans and Lucas fuel stabiliser then, fill 'em up and keep cheap petrol stored for a year or so just incase they jack up the cost for some reason (and they don't need a good reason to do so!!)... Grin
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Re: Oil price drops to below £45 a barrel

Don't think it'll go up too quickly but it will eventually.
Apparently OPEC are miffed with the yankees (sorry am I being racist there?) as they are now pumping shale oil out of the ground in large quantities and its lowering the oil values globally. You'd think that OPEC would cut production to keep the value high however they've decided that to eliminate the american threat, they should continue with the current level of production in the hope that it will devalue american oil / investment and put it out of production. What OPEC don't realise is that Americans are oil thirsty at any cost and will go to war to secure more supplies. Not the smartest of moves IMO but you never know, it might work.
Still.. can't complain at the fuel price drop eh?
I need a new signature... i'm bored of the old one!
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Re: Oil price drops to below £45 a barrel

Quote from: 7up
the yankees (sorry am I being racist there?)

Depends on which part of the US you're referring to, my friend over in Texas would be pretty annoyed at being called that... Grin