Will oil reach US$100 again? The roller coaster ride continues….

Oil price influences

In last week’s blog, we caught up with Andrew Bradford, oilfield services analyst with Raymond James, and asked him when he predicts the price of oil will go up and when rigs will get back to work. He had some good news, but it could be a bumpy ride and we are probably looking at later this year before things start to improve.

This week, we hear from Bradford on whether it will ever get to US$100 again, whether prices will continue to bounce around so much and what influences the oil price. Buckle up and read on!

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Buckle in…a roller coaster ain’t got nothin’ on oil prices

Falling oil prices

 

Oil prices have always provided our industry with a bumpy ride, but 2015 and 2016 have made us buckle in a bit tighter. The low price of oil has been, to say the least, extremely frustrating — and not just for everyone working in the oil patch. Much of North America has felt the impact.

Everyone is asking, how long can the downturn go on? Will the price recover soon?

So we asked Andrew Bradford, oilfield services analyst with Raymond James, those questions. He is one of the Canada’s leading industry experts in oilfield services.

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