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OIL, Discussion
blacksheep
post Posted: Aug 15 2019, 11:41 AM
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In Reply To: blacksheep's post @ Aug 8 2019, 10:08 AM

Bankruptcy filings by U.S. energy producers pick up speed: law firm analysis
QUOTE
HOUSTON (Reuters) - Bankruptcy filings by U.S. energy producers so far this year have already nearly matched the total for the whole of 2018, law firm Haynes & Boone reported on Wednesday, as volatile oil and gas prices drive companies to seek protection from creditors.

A total of 26 firms with debts totaling $10.96 billion have filed for court restructuring through mid-August, according to the law firm’s report.

Last year, 28 companies filed for bankruptcy, listing $13.2 billion in debt, while 24 firms sought protection in 2017 with $8.5 billion in debt.

“So far this year there has been an uptick in the number of filings,” Haynes & Boone said, noting 20 of the filings have been since May.

read more - https://www.reuters.com/article/us-usa-oil-...s-idUSKCN1V42B7



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2019, 10:08 AM
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Big Money Starts to Dump Stocks That Pose Climate Risks
After years of meetings and shareholder resolutions, some funds are starting to simply divest from coal and oil stocks.

By Kelly Gilblom
August 7, 2019, 2:01 PM

QUOTE
Demand for thermal coal, the kind used to generate electricity, is declining in much of the world as governments seek to cut carbon dioxide emissions. Some asset managers are deciding it’s risky—for their clients and the planet—to keep shoveling capital into companies with environmentally unsustainable business strategies. This year almost every major public oil company faced at least one shareholder resolution about climate change. Those proposals won record support. (Michael R. Bloomberg, founder and majority owner of Bloomberg LP, in June launched an effort to phase out every U.S. coal-fired power plant by 2030.)


QUOTE
Stansbury says he already had deep misgivings about the future of the oil market. Oil companies’ value depends on investors believing that demand for crude will always grow. For 100 years, that belief had been justified. But if renewable-energy sources gain market share and crude demand stutters, the market would go haywire, he says. That could trigger a huge re-rating of major oil companies—of which LGIM holds more than $12 billion in shares. “It was a lightbulb moment,” he says.

https://www.bloomberg.com/news/articles/201...e-climate-risks



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Aug 5 2019, 10:12 AM
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In Reply To: early birds's post @ Aug 4 2019, 09:01 PM

thought oil price would be way high than usd$55.30/b...............................
seems iran need to seizes more oil tanks.................... laugh.gif



 
early birds
post Posted: Aug 4 2019, 09:01 PM
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https://www.cnbc.com/2019/08/04/iran-seizes...te-tv-says.html


Most analysts maintain war in the Persian Gulf remains unlikely, but fear that with tensions so high and no diplomatic channel of communication, a mere miscalculation could set off a serious conflict.
======================

gulf war unlikely???????? WTF!!

what's the price of WTI on monday when the future market opens??

 
nipper
post Posted: Jul 28 2019, 09:41 PM
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QUOTE
"On the [oil] supply side, we continue to see U.S. shale oil as the only near to medium-term source of global production growth."

Paal Kibsgaard, CEO, Schlumberger Ltd [world’s largest oilfield services company]




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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early birds
post Posted: Jun 20 2019, 11:54 PM
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“A limited war would likely push oil prices above $100 per barrel, while a major confrontation would likely drive prices above $150,” Rome said. But not all experts agree.

https://www.cnbc.com/2019/06/06/heres-how-h...-with-iran.html

===============================

$57.25 for WTI might get it tonight or tomorrow . not sure after that on TA terms.




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early birds
post Posted: Jun 13 2019, 05:11 PM
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https://www.cnbc.com/2019/06/13/oil-jumps-m...lf-of-oman.html

Brent crude spiked 3% on Thursday morning on reports of tanker explosions in the Gulf of Oman.

==================

i just saw the rally in front my eyes, as i bought some WTI . didn't know the news untill now.
made good short term money though. lmaosmiley.gif



 
nipper
post Posted: Jun 8 2019, 07:30 PM
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In Reply To: early birds's post @ Jun 8 2019, 03:35 PM

In fact it gets more cruel than that, eb; the technical advances as the drillers nut out how to maximise drilling yet minimise formation damage (gotta preserve the producing zones to allow oil n gas to flow) has accelerated.
QUOTE
...jump in production has come despite a near 10% slide in the number of rigs being used..
.

- was always going to happen, the oil patch has always been innovative, in the US at least



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Jun 8 2019, 03:35 PM
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In Reply To: nipper's post @ Jun 8 2019, 11:05 AM

That’s an increase of more than 1.6 million barrels a day in the past 12 months. That rise came from shale increases from the Permian Basin in West Texas and New Mexico.

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Posted Nov 14 2018, 04:09 PM
https://www.cnbc.com/2018/11/14/oil-markets...y-in-focus.html

Most analysts expect U.S. output to climb above 12 million bpd within the first half of 2019.

"This will, in our view, cap any upside above $85 per barrel (for oil prices)," said Jon Andersson, head of commodities at Vontobel Asset Management.

The surge in U.S. production is contributing to rising stockpiles.
=============

can't understand why the heck some major firm talking about usd$100/b not long ago??
a lot of people knows that when WTI over usd$55/b then most of US shale oil will make money hence the rig count will serge if oil stays above $55/b longer than two months
as the result----oil market washed with US shale oil now that whacked oil market . wink.gif
================================

i did this post last year. don't say people didn't get info about oil price here!! devilsmiley.gif

now, usd$50/b is the level that will set a lot of these shale producer decision . if oil price goes under 50 bucks then some of them can't make money, so they will reduce rigs........




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nipper
post Posted: Jun 8 2019, 11:05 AM
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USA now the swing producer
QUOTE
WTI oil [prices dropped to a two year low] after US oil stocks hit their highest level for almost two years.

At the same time estimated US daily production hit a new all-time high of 12.4 million barrels a day – but the extra oil has nowhere to go except into stockpiles.

That’s an increase of more than 1.6 million barrels a day in the past 12 months. That rise came from shale increases from the Permian Basin in West Texas and New Mexico.

And that jump in production has come despite a near 10% slide in the number of rigs being used to drill for oil in the US since the end of 2018. US oil rig numbers are down from 877 in December to 800 in late May.

There were more than 1600 active oil rigs at the peak in late 2014 as global oil prices were sliding.

That US shale producers can now get more oil per rig four and a half years later tells us a lot about the enormous efficiencies and lower costs wrung out of the system by producers large and small in that time....

https://www.sharecafe.com.au/2019/06/07/oil...-swamps-demand/



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
 


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