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Texas

duforsure

(11,885 posts)

1. I think some Texas producers of oil will be forced out of business if the prices remain low long,

Reply to TexasTowelie (Original post)

Tue Mar 10, 2020, 05:53 AM

Mar 2020

As far as the oil being run at refinery's they'll be pushing using the cheaper Middle East oil even though it has much higher sulfur rates , but many refinery's can run it , and it being a lot cheaper to buy . Until it comes back up the cheaper choice will be to use the sour crude.

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How will collapsing oil prices affect Texas? It depends on these two factors, experts say. [View all] TexasTowelie Mar 2020 OP

I think some Texas producers of oil will be forced out of business if the prices remain low long, duforsure Mar 2020 #1

Could someone please explain this to me? PJMcK Mar 2020 #2

It means that instead of using domestic oil TexasTowelie Mar 2020 #3

Thanks, that's interesting PJMcK Mar 2020 #4

Oil needs to be around $60 a barrel in order for the oil industry TexasTowelie Mar 2020 #5