how to bury US production? keep oil price low, maybe u can kill off some of the US producers.. but then oil price will go back up if some US producers do die, and eventually US producers will come back in again.. to prevent US producers from coming into play, oil price has to be low forever, & hope shale oil technology dont improve such that cost of production of shale decrease further.. so i dont buy the story of media saying SA wants to kill of US producers.. it' s all about russia.. US shale boom is not this 1-2 year, it' s ongoing for a decade.. why SA suddenly keep pumping oil these 2 years just after russia get itself involve in ukraine conflict.. did they only realise US shale boom only like recently? anyway SA are getting hurt themselves with much lower oil revenue playing this political game with russia together with US.. those politicians though are making big bucks by generating oil price volatility using media.. makes u wonder why most world leaders doesnt earn big salary doing their politician job, but somehow are super rich
SA doesn't want oil prices to plunge, but they don't want them too high either. They need to say and do just the right things to keep oil in a sweet medium of $30-$32. That way they can make money producing, and keep prices low enough to bury US production. They're basically running a balancing act on the whole market. When prices hit $34, it was too high and they had to bring them down. When prices hit $26, they had to bring them up. They are trying to say and do enough to keep volatility out of it and just coast until enough US companies go belly up.
the problem is trust nobody believe the parties involve will stick to agreement....
i heard last time they made an agreement russia didnt follow through and increased production instead lol...
All the noises yet no parties want to reduce production. Talk only no action. Nothing change . Think Oil price may cont heading South.
Here' s something to add on oil futures Hedge
https://sg.finance.yahoo.com/news/2017-oil-rebounds-45-u-004433435.htm l"> https://sg.finance.yahoo.com/news/2017-oil-rebounds-45-u-004433435.html
Baring technical issues, can the taps be turned off for five days? Certainly. Is the political will there? Obviously not. This, to me, is the real problem and answer.
It' s no rocket science, if we may borrow a common cliche, to figure where the problem really is - in which geographical area are we really seeing the inventory build, n in which geographical area/s are the demands really coming from? Yet, who are being made the scapegoat for the purported glut? (One article I read sometime ago had this to say, " The Wall Street traders wld like u to believe there is a big glut. In actual fact, there is some surplus that' s for sure. But there is no major glut." Qn : How much effort does it take to completely drain off the US inventory of 500 mil barrels? Ans : Turn off all the world' s oil tap completely for five days !!!!!
build reported across entire energy complex....oil producers need to talk up oil again tomorrow...lol
It' s no rocket science, if we may borrow a common cliche, to figure where the problem really is - in which geographical area are we really seeing the inventory build, n in which geographical area/s are the demands really coming from? Yet, who are being made the scapegoat for the purported glut? (One article I read sometime ago had this to say, " The Wall Street traders wld like u to believe there is a big glut. In actual fact, there is some surplus that' s for sure. But there is no major glut." Qn : How much effort does it take to completely drain off the US inventory of 500 mil barrels? Ans : Turn off all the world' s oil tap completely for five days !!!!!
build reported across entire energy complex....oil producers need to talk up oil again tomorrow...lol
SA doesn't want oil prices to plunge, but they don't want them too high either. They need to say and do just the right things to keep oil in a sweet medium of $30-$32. That way they can make money producing, and keep prices low enough to bury US production. They're basically running a balancing act on the whole market. When prices hit $34, it was too high and they had to bring them down. When prices hit $26, they had to bring them up. They are trying to say and do enough to keep volatility out of it and just coast until enough US companies go belly up.
camels farting.
Profit takings
build reported across entire energy complex....oil producers need to talk up oil again tomorrow...lol
April contracts looking goodddd
http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html
Just add that if a freeze doesn' t keep supply in check, at least, why is Iran apparently so against being a party to the agreement?
Think these people u never want to listen to. May not be a great help to freeze, but at least u won' t get everyone pumping like crazy. We know how sentiment-driven (n even short-happy, especially some angmo bks no need to mention) px is. If everyone keeps pumping n they look at the inventory buildup, they will keep shorting n pressing px down even more. Furthermore, apparently there is still demand growth (I think expected around 1 mil bpd this yr). So supply freeze, demand increase, why no help?
Possibly they must have shot alot. Good luck
Think these people u never want to listen to. May not be a great help to freeze, but at least u won' t get everyone pumping like crazy. We know how sentiment-driven (n even short-happy, especially some angmo bks no need to mention) px is. If everyone keeps pumping n they look at the inventory buildup, they will keep shorting n pressing px down even more. Furthermore, apparently there is still demand growth (I think expected around 1 mil bpd this yr). So supply freeze, demand increase, why no help?
Possibly they must have shot alot. Good luck
goldman sach said freezing oil output wont help.Seriously, wanna fool who sia.. freezeing output confirm will help in brining the price up.
What they said is correct
Won't help them
Possibly they must have shot alot. Good luck
goldman sach said freezing oil output wont help.Seriously, wanna fool who sia.. freezeing output confirm will help in brining the price up.
