Oil Looks to Be Down for the Long Haul

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Oil Looks to Be Down for the Long Haul

I’ve spent about as much time reading up on the medium term prospects for the oil market as anyone this past week to try and gauge what the market for steel castings and ductile iron castings is likely to be as we head into 2016 .

A few stories that kind of sum up the picture are:

http://www.marketwatch.com/story/crude-tumbles-as-analysts-brace-for-prices-under-40-a-barrel-2015-11-23

http://www.theweek.co.uk/oil-price/60838/oil-price-why-it-could-collapse-to-20-a-barrel

 

The second article is a bit alarmist, but the analyst consensus seems to be that oil will remain weak in the early part of 2016, and maybe rally in Q3.  It seems like the time to hunker down in Houston is now.  I expect more layoffs from the big Houston players to be announced before the end of the year, as I’m sure they won’t want to carry additional staff into 2016.

The drama continues!

About the Author:

I am the president of a mid-size iron and steel castings company in Northeast Ohio. The foundry business is dirty, smoky, competitive, and not for the faint of heart. One must endure blistering heat, and go without seeing light for days, if not weeks or months at a time… Okay, that's a slight exaggeration. As a descendant of famed Siberian pathfinder Dmitri Zlatzutuov, I'm eager to carry on the family tradition of persevering no matter what obstacles lie ahead. Now that I'm done giving you the family history, I can tell you that I'm also an attorney and I volunteer a portion of my time to causes involving First Amendment litigation, as well as for Community Legal Services out of Akron, Ohio—for which I was recently recognized as ‘Volunteer Attorney of the Year.’ In addition to my normal day-to-day, I occasionally have works published in journals and magazines, though much less often lately, as running a company tends to fully occupy one's time.

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