Saudi Arabia to lower oil prices, the houston boom is over

Brah v Bruh

 

Breh?

 

Met a woman today at a TG dinner who didn't share your views (some VP/exec for one of the supermajors). She claimed many of her associates were very worried about oil prices, hiring, activity in general, etc. I'd put myself in the 'normally worried' category.

 

Stick to real estate, brah

I'm not going to take the time to educate you. Google to start your education process.

 

Why won't you take the time, texxx? Because you'd actually have to make a post that consists of more than the one I'm replying to? You are almost always like this. I don't know if it's because you simply don't know about the things you claim to be expert at, or are just lazy. With all due respect, of course.

 

the value of my time is too high to provide remedial education to others

 

So you're saying you're lazy. Got it.

 

So if Obama did have policies that promoted massive amounts of drilling we would have an epic bust on our hands.

That would be sweet to trade.


Anyhow, I'd like to see what happens when oil breaks 65. It looks like there should be good support in the low 60's, but maybe we can get a nice panic on our hands and blow past that, but I doubt it. Saudis and Iraqis both see prices bottoming out in that 60-65 range and the charts indicate strong support there. The world economy isn't that bad either to cause a complete crash.

 

Post count:
SWTsig (Dec 2002) - 10,052

bigtexxx (June 2002) - 20,972

I suppose the only person you really need to convince is yourself, though.

 

I believe he was referring to the ridiculous, too lengthy offshore drilling moratorium which put many smaller gulf coast service contractors out of business while they waited for it to be lifted.

 

The infighting within OPEC has got to be incredible right now. Many of the member countries won't be able to maintain their countries' budgets due to this lower oil price. The shale gas/oil revolution has brought OPEC to their knees, unable to control the fall in oil prices due to new supply.

Do not rule out wars to "remedy" this.

 

I'm sure the OPEC countries would might love it if every other country cut production..

Getting owned by US shale. If only euros would drill

 

Light crude that is easy to extract w low production cost will never "get owned" by US shale unless they literally run out of the stuff.

Which is basically never

 

Too bad "light crude that is easy to extract with low production cost" doesn't describe all of OPEC

 

Now I like this post, texxx. Good stuff. So why is Saudi Arabia flooding the market with crude? That, combined with our huge increase in production, are the main drivers of the price downturn, aren't they? Is SA hoping to increase market share? They also are doing the US and our allies a favor by putting the screws to the Putin regime. Is that simply a convenient side effect? I feel like I'm missing something.

 

I follow BP's former economist on linkedin. He publishes some pretty good stuff.

I'm not worried...

 

And what would one expect after one of, if not worst environmental disaster, in America?

 

pardon my ignorance...

we are producing that much oil now?? dayum.

 

Heard BP is laying folks off here??

But Peak Oil tho!??

 

http://www.reuters.com/article/2014/11/28/us-opec-meeting-shale-idUSKCN0JC1GK20141128?feedType=RSS&feedName=topNews

Thanks, "good friends"