Quote:
Originally Posted by EricVR4
I'd hold off on oil for now just to see what the bottom might actually be.
In another thread (maybe this one, can't remember) I had mentioned I work for a contractor company on a BP program and that they hadn't reacted to the price drop yet.
Well, they are now. They're currently going through the portfolio of projects on our program and seeing how much money they can shift from 2020 into 2021 without having an impact on too many critical installs they need. That to me shows that they're worried enough about the slump that's happening and that they expect it to continue for a bit, but at least not last long-term. So I'd just keep an eye on the prices and don't get too tempted yet because they may keep dropping.
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I appreciate the insight, that is good to know for us. It's always hard to catch the falling knife, but I'm starting to invest small amounts around these current prices. If it continues to keep dropping then I'm prepared to buy more at lower prices and lower my cost average.