Analysts See $65 Oil

John Ransom | March 06, 2015 3:29 PM

First it was that oil would never go below $100. Then it was that oil would definitely hit $40 a barrel. And now analyst at UBS say the magic number is...$65-$70 a barrel. But I'll give them this they do have some reasoning behind their number. Their point is that oil production in the United States has a breakeven price of $60-$65 a barrel.

And since US production can better offset the production from OPEC countries than previously that the breakeven US price will better determine the overall price of oil in the market. But of course as we all know it makes little difference because oil prices and gas prices have nothing whatsoever to do with each other.

Catch more of the best money advice and monetary commentary by me daily 10am PT, 1pm ET at WealthEd.com

Analysts See $65 Oil

Related:

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Trending on Townhall Media

Here's What Was in the Van of the 'Upstanding Non-Citizen on His Way to Work' That ICE Shot in Houston

Adam Schiff Tries to Embarrass AG Nominee Todd Blanche, but It Wasn't a Fair Fight

Why Sunny Hostin Melted Down About Lindsey Graham's Sister Becoming a US Senator

Most Popular

Leftist Podcasters Trash Christianity and Homeschooling: 'It’s Child Abuse'

A Former Clinton Advisor Is Warning Democrats About the Looming Communist Takeover

You Won't Believe How This Democrat Lawmaker Is Trying to Beat a Traffic Ticket

Rep. Randy Fine Asked Who Can Get Pregnant, and This Witness Answer Was Ridiculous