What do people think of the trends in the oil industry?
Thread Content
In an era of economic crisis, what is everyone’s view on the trends in the oil industry?
The economic crisis is indeed happening right around us; just look at China National Petroleum Corporation’s stock to understand China’s current situation. China National Petroleum is the same. Whether it’s Sinopec or not, with **’s significant involvement, China’s energy sector will not experience major fluctuations. Globally, so-called energy crises are all man-made; local wars lead to instability in those societies, further deteriorating the economic situation. At the same time, a group of hot money players were at work behind the scenes, driving up the price of oil to an exorbitant level of $150 per barrel. However, based on the current situation, I personally think that $60 per barrel is a normal price for oil
I’m from Jilin; things are pretty tough there – many products can’t be sold
With oil prices falling now, it has become difficult for many projects involving oil substitutes to succeed. Thus, the drop in oil prices not only means cheaper gasoline for driving, but also results in many industries being put on hold temporarily.
It will gradually recover, after all, oil is a non-renewable resource. What was said on the first floor is right – there are too many human factors in the oil industry at the moment; if those factors are eliminated, oil prices will rise immediately.
Confidence is the key to overcoming difficulties. Strategically, we must disregard the crisis; tactically, however, we must recognize the severity of the difficulties. Our backlog of oil products has become quite serious.
Resource-based industries will not collapse, let alone those related to **strategic materials. As long as industries such as land transportation and shipping still need oil, this industry will not fail, after all, biotechnology-based energy production is not yet capable of being carried out on a large scale. It is now a certainty that China and Russia will sign a $25 billion oil loan agreement today, so the oil industry will surely recover in the coming years.
Keep moving forward; the path is always there!