OPEC is Crushing Our Hopes and Dreams

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OPEC is Crushing Our Hopes and Dreams

As if the Steel Foundry industry was not already reeling enough as it is…

I think this article says it all:  http://www.bloomberg.com/news/articles/2015-10-20/after-year-of-pain-opec-close-to-halting-u-s-oil-in-its-tracks

To expound on what the article says, OPEC will continue to crush the U.S. Oil Boom with production levels that won’t allow the price of oil to return to $60-$70 per barrel until mid to late 2016.

What does that mean for those of us that make steel castings and stainless steel castings?  It means the bumpy ride continues.  All market segments seem to be re-trenching right now playing a game of wait and see.

So wait we shall.

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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