What do you guys think about oil!

Gleanerk2 · Jan 28, 2016

Stop at tractor supply rotella 15/40 is 2 dollars cheaper than it was 1.5 months ago when I changed oil in my pickup thinking I should go buy a bunch of oil and stock up while its down! Do you guys think its really going to get any cheaper?

xpkson · Jan 28, 2016

As long as oil per barrel has room to fall, so will it per quart get cheaper at the stores.The problem is as I am reading the oil companies are near bankruptcy.Then watch the prices.The question who will then dominate the market and run the oil industry.Prices will fly back up quickly.So buy now and stock pile as you can with cheaper prices.

Jerry

f2355j · Jan 28, 2016

I'm thinking of buying some

coonie minnie · Jan 28, 2016

Two views:

1) Talk this AM that Russia may cooperate with OPEC to reduce production. Perhaps 5%.

2) When oil really took off in the mid 2000's, gas and diesel prices quickly followed. Oil like 15w40 etc stayed the same before climbing. It seems as if it did not drop as fast as gas, too. Perhaps there is a pricing lag with oils? Not sure.

So there- take your pick!

Dean · Jan 28, 2016

The latest word is that the Saudis are now talking with the Russians about reducing production. If this happens, crude will rocket to somewhere around $60. It remains to be seen what will happen thereafter. Too many variables.

Dean

RJKeith · Jan 28, 2016

Crude had dropped to $27 per barrel last week. Now rebounded to $33 per barrel. Probably as cheap as it is going to get right now. Another way to look at it is how much more can it drop, not much before it cost more to pump and ship than it is worth. Compare that to what it was a couple of years ago. It could go down a little more, but it can go up a lot.

Steve in VA · Jan 28, 2016

I believe that oil is one of the very few ways that Saudi Arabia can squeeze Iran other than the proxies in open warfare. So, I doubt that SA will significantly cut production because with Iran back in the market very, very soon, it makes sense to me that SA depress the price.

Bear in mind that when oil was north of 100$, it was a common position that there was no fundamental reason for it to be that high and it was unsustainable. Now that its cycled down and allegedly dragging the market, I wonder if the 'drill baby drill' crowd are doing any reconsidering.

Back on topic I plan to lay in reserves of engine oil too.

rrlund · Jan 28, 2016

I think if any of us knew,we'd be millionaires.

oldtanker · Jan 28, 2016

I know some of the small independent companies are in trouble but that's because they have a big debt load. I really doubt that companies like BP are in any trouble at all. They are making the same profit margin per gallon they were making before. If they were making 10cents a gallon 2 years ago net profit they are still making 10 cents a gallon net profit. When prices fall they suspend exploration and drilling. And they have been spending money buying up the small companies as they fail for pennies on the dollar. The big oil companies will be here when the smoke clears.

Rick

David G · Jan 28, 2016

It is a lot like farming, price goes up everyone produces, drives price down and each one hopes the other cuts production

mj · Jan 28, 2016

(quoted from post at 17:01:57 01/28/16) I think if any of us knew,we'd be millionaires.

You got that right! :lol:

Steve in VA · Jan 28, 2016

Dave, I absolutely agree. Many, many decisions are lagging the fundamentals that got them there.

tim s · Jan 28, 2016

It seems that engine oil and hydraulic oil has not came down as much as gasoline/diesel has..

CenTex Farmall · Jan 28, 2016

Gear oil has hardly budged in this area.

casecollectorsc · Jan 28, 2016

Local Co-op went up to $15.10 a gallon on their 15/40 lately, thats's why I buy Rotella. Nice of a customer owned company to treat you that way.

JayinNY · Jan 28, 2016

It will prolly go back up, Im hedging against it! At least no oil will be bought for heat. Lol

Andy Martin · Jan 28, 2016

looks like a few saw logs in there.

I agree lubricants will lag coming down. I'm going to wait until crude really starts up and then stock up on motor oil. Still got three five gallon cans of Rotella but I'm out of gear oil and hydraulic fluid. Need to change the oil in the Bobcat and that will make a dent in the Rotella.

vscummins · Jan 29, 2016

Doesn't seem like lubricants really drop when oil goes down maybe if it drops a lot more and stays there a year or two but I doubt with what fuel prices are doing right now you will ever see to much drop in lubricants price

Steamboat · Jan 29, 2016

At least the Keystone pipeline is out of the news. No way can it be profitable to extract oil from Canadian shale at present depressed oil price on the global market.

ss55 · Jan 29, 2016

The per unit cost of refining, mixing, packaging and distribution of lubricants in bottles, jugs, buckets and drums has to be higher than handling bulk fuel through pipelines, barges, tank cars and tanker trucks.

brutus49DC · Jan 29, 2016

Do you saw, split and haul it all by hand? Otherwise there's petroleum involved somewhere in the process.

JayinNY · Jan 29, 2016

No, we use horses and do it by hand!

ss55 · Jan 29, 2016

It's a good thing that hand labor and horses don't cost anything, LOL.

IA Roy · Jan 29, 2016

Motor oil on sale in Blains Farm Fleet it is up 30 cents a quart from last weeks sale price. About 18%

What do you guys think about oil!

Member

Member

Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Well-known Member

Member

Well-known Member

Well-known Member

Well-known Member

Similar threads