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OIL, Discussion
blacksheep
post Posted: May 20 2018, 01:06 PM
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Why Oil Prices Will Head Even Higher

QUOTE
Get ready for another surge in crude oil prices.

The cost of a barrel of crude oil is now at its highest level since 2014, but there will likely be another jump in the coming weeks. Primary among the reasons is that despite all the screeching, European companies will not be likely to get a waiver from soon-to-be-imposed U.S. sanctions on Iran.

Here's the skinny:

https://www.forbes.com/sites/simonconstable...r/#2e70053946aa



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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
 
marketwinner
post Posted: May 13 2018, 05:39 PM
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In Reply To: marketwinner's post @ May 12 2018, 12:30 PM

U.S. oil production recently broke another record, jumping over 10 million barrels per day in the last week in April. Permian production (west Texas) is expected to double between 2018 and 2023 nearly as much oil as Iraq, OPEC’s second largest producer. Many expected increases in supply will come from shale, oil sands and other non-conventional supplies. But much of the oil additions will come from solely from the Permian during next five years.

https://www.dallasnews.com/business/energy/...ed-supply-world

https://www.cnbc.com/2018/01/30/exxon-mobil...in-by-2025.html

https://www.bloomberg.com/news/articles/201...ve-more-to-give



Said 'Thanks' for this post: triage  
 
marketwinner
post Posted: May 12 2018, 12:30 PM
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In Reply To: marketwinner's post @ May 12 2018, 08:08 AM

https://www.reuters.com/article/us-global-o...t-idUSKBN1IC033

Oil prices fall as Iran nuclear deal retains support

https://uk.reuters.com/article/usa-rigs-bak...s-idUKL1N1SI1A5

UPDATE 1-U.S. drillers add oil rigs for sixth consecutive week -Baker Hughes



 
marketwinner
post Posted: May 12 2018, 08:08 AM
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In Reply To: blacksheep's post @ Apr 30 2018, 10:31 PM

http://www.worldoil.com/news/2018/5/9/us-g...t-for-2018-2019


 
blacksheep
post Posted: Apr 30 2018, 10:31 PM
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In Reply To: early birds's post @ Apr 30 2018, 09:58 PM

If it does reach his "not impossible" $300 target I guess we'll all be rushing out to buy EV's - hopefully EV aircrafts/ships are available as well - would hate to guess what a litre of fuel would cost. The lion's share of oil production goes into fuel, but there are many other products we use daily that come from oil production - they too would become awfully expensive. Hopefully it's another pie in the sky prediction biggrin.gif

A partial list of products made from Petroleum (144 of 6000 items)

One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like:

Solvents
Diesel fuel
Motor Oil
Bearing Grease
Ink
Floor Wax
Ballpoint Pens
Football Cleats
Upholstery
Sweaters
Boats
Insecticides
Bicycle Tires
Sports Car Bodies
Nail Polish
Fishing lures
Dresses
Tires
Golf Bags
Perfumes
Cassettes
Dishwasher parts
Tool Boxes
Shoe Polish
Motorcycle Helmet
Caulking
Petroleum Jelly
Transparent Tape
CD Player
Faucet Washers
Antiseptics
Clothesline
Curtains
Food Preservatives
Basketballs
Soap
Vitamin Capsules
Antihistamines
Purses
Shoes
Dashboards
Cortisone
Deodorant
Footballs
Putty
Dyes
Panty Hose
Refrigerant
Percolators
Life Jackets
Rubbing Alcohol
Linings
Skis
TV Cabinets
Shag Rugs
Electrician's Tape
Tool Racks
Car Battery Cases
Epoxy
Paint
Mops
Slacks
Insect Repellent
Oil Filters
Umbrellas
Yarn
Fertilizers
Hair Coloring
Roofing
Toilet Seats
Fishing Rods
Lipstick
Denture Adhesive
Linoleum
Ice Cube Trays
Synthetic Rubber
Speakers
Plastic Wood
Electric Blankets
Glycerin
Tennis Rackets
Rubber Cement
Fishing Boots
Dice
Nylon Rope
Candles
Trash Bags
House Paint
Water Pipes
Hand Lotion
Roller Skates
Surf Boards
Shampoo
Wheels
Paint Rollers
Shower Curtains
Guitar Strings
Luggage
Aspirin
Safety Glasses
Antifreeze
Football Helmets
Awnings
Eyeglasses
Clothes
Toothbrushes
Ice Chests
Footballs
Combs
CD's & DVD's
Paint Brushes
Detergents
Vaporizers
Balloons
Sun Glasses
Tents
Heart Valves
Crayons
Parachutes
Telephones
Enamel
Pillows
Dishes
Cameras
Anesthetics
Artificial Turf
Artificial limbs
Bandages
Dentures
Model Cars
Folding Doors
Hair Curlers
Cold cream
Movie film
Soft Contact lenses
Drinking Cups
Fan Belts
Car Enamel
Shaving Cream
Ammonia
Refrigerators
Golf Balls
Toothpaste
Gasoline
Americans consume petroleum products at a rate of three-and-a-half gallons of oil and more than
250 cubic feet of natural gas per day each! But, as shown here petroleum is not just used for fuel.

https://visual.ly/community/infographic/sci...e-get-crude-oil




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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

Said 'Thanks' for this post: Pendragon  early birds  
 
early birds
post Posted: Apr 30 2018, 09:58 PM
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In Reply To: blacksheep's post @ Apr 30 2018, 08:28 PM

Oil Hedge Fund Manager Says $300 Oil ‘Not Impossible’
===================

yeah right...not impossible . but it is really really unlikely to happen. if that is the case then why we bet on it??? unsure.gif



 


blacksheep
post Posted: Apr 30 2018, 08:28 PM
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In Reply To: blacksheep's post @ Jan 29 2018, 09:53 PM

Oil Hedge Fund Manager Says $300 Oil ‘Not Impossible’

QUOTE
Pierre Andurand, one of oil’s most prominent hedge fund managers, said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.

Andurand, who’s often espoused bullish views, said in a series of tweets on Sunday that concern about the impact of electric vehicles on future demand was limiting investment in projects with long lead times.

"So paradoxically these peak demand fears might bring the largest supply shock ever," he wrote. "If oil prices do not rise fast enough, $300 oil in a few years is not impossible.

https://www.bloomberg.com/news/articles/201...-not-impossible

Hedgeye's Cartoon of the Day: Bullish Oil

Attached thumbnail(s)
Attached Image


 




--------------------
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: Jan 29 2018, 09:53 PM
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Hedge Funds Are Betting Big on Oil
January 27, 2018, 11:08 AM

QUOTE
The enthusiasm in the oil markets is breaking records.

Hedge funds reported record wagers on continued price increases for both U.S. and global oil benchmarks, along with gasoline and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006.

“There is a lot of interest in the direction of crude oil,” Rob Thummel, managing director at Tortoise Capital Advisors LLC, which handles $16 billion in energy-related assets, said by telephone. “The long oil trade continues to be the place to be.”

https://www.bloomberg.com/news/articles/201...ets-to-new-high



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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
 
nipper
post Posted: Jan 22 2018, 07:30 AM
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Exploration revival in sight as drill-rig rates fall
QUOTE
The near-drought that has gripped the oil and gas exploration industry for the past three years looks set to break with early signs that more stable commodity prices and lower rig rates are fuelling renewed interest in offshore drilling. After just a sole well was drilled in Australian waters last year, as many as 10 could be drilled across a range of basins this year, according to industry consultant EnergyQuest.

Explorers are also reporting a marked pick-up in interest among industry in potential exploration joint ventures as boards tentatively look to loosen the strings on the exploration purse after clamping down on budgets since the start of the oil price crash in mid-2014.

EnergyQuest founder Graeme Bethune said the rebound in exploration offshore Australia this year would be driven by "plucky juniors" taking advantage of low rig rates, supported also by high domestic gas prices on the east coast.

Finder Exploration ... is planning to kick off a five-well drilling program off the coast of north-west Australia in the December half, an exploration venture between Quadrant Energy and Carnarvon Petroleum is planning two wells off the north-west coast, and, off Victoria, ExxonMobil has two wells pencilled in at its recently acquired Dory prospect in the deepwater Gippsland Basin...

The total number of bids for acreage in waters around Australia fell from 70 bids on the 2010 release to 13 bids and 17 bids for the 2015 and 2016 releases respectively, according to the Industry Department. Proposed reforms include allowing bidding for vacant offshore acreage at any time, and a streamlined process for awarding permits...
Read more: http://www.afr.com/business/energy/oil/exp...z#ixzz54rC01Aki



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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
 
cooderman
post Posted: Jan 9 2018, 12:06 PM
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WTI crude continues to push higher. I thought there may have been a pullback around these levels.

May push to 2015 high of 63.2s. and a possible short trade.

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