Oil price dives below $80 per barrel, petrol price stable

Posted on 13-11-2014 at 7:59 by sir_smokalot – 23 Comments”

For the first time since 2010, a barrel of oil is less than 80 Us dollars on the world market. Where does it end?

A falling oil price will cause a good atmosphere at the motorist, because it means that there is less at the pump settled. Yesterday, a barrel of Brent is just below $80. In such a barrel is 159 litres, so the buyers pay around two dollarkwartjes per litre of crude oil.

But why would my price per litre or not?

The problem is that you all dollar signs, but we pay in euro’s. And let this euro the last few months, well be strong compared to the dollar. At the top you got this year, almost $1,40 for a euro, now it is less than $1,25. Oil companies will be here to point out if you ask them why anno 13 november, the average national price is still above the €1,70 (€1,725 to be exact).

To prove that the above is not a Dutch problem is: in Switzerland, where the currency (CHF) are approximately equally strongly relates to the USD, remained the price of a litertje euro95, after a one-time drop of a few pennies of weeks ago, to the day of today the same: 1,68 CHF.

As a reason for the decline in the price of oil is the argument that Libya has oliekraan still quite open, and also the US throws a lot of barrels of shale oil on the market. Combine this with ISIS-dumping and a cooled Chinese (and world)economy, and you’re there. Until the price suddenly inexplicably going to go up, because then there will be plenty of explanations of why this happens (conflicts in producing countries do ‘t usually good).

OPEC

About 2 weeks, on november 27, meets the OPEC in Vienna. All eyes will be focused on what the organization, which accounts for slightly less than half of the world production, will decide.

Photo: BMW M3 to the pump, through autojunk.nl