Why are oil prices so low?
- Thread starter Laissez Faire
- Start date
Statoil, as well. Looks like another 2% down day. Critical support area here at around 120 NOK. I'm suspecting it won't hold and that it will slide down to 110 NOK. Maybe 100 NOK.
Of course. No connection with the oil price.
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Wow oil down again, maybe under $50 by end of December ....passed a few stations before, still all above $3
Cheapest was $3.05 even though prices are down over 40% they still have prices above$3...fair value for regular should be under $2.70 right now with premium at $2.99... premium still above $3.45. Hasn't moved one bit since oil is down from $75+ to $57.
Cheapest was $3.05 even though prices are down over 40% they still have prices above$3...fair value for regular should be under $2.70 right now with premium at $2.99... premium still above $3.45. Hasn't moved one bit since oil is down from $75+ to $57.
funny how fast gas prices go up when oil goes the other direction
so far so good. Wonder if we just carry on crashing all next week/
Yet another dumb thread on ET containing the same village "idiots" that are as clueless as ever!
OPEC only cares about MARKET SHARE and has everything tee'd up to inflict massive amounts of pain on high cost producers such as US shale projects in the Bakken and Permian.
The break-even cost for 30% of shale plays is $80.
The overall break-even price for all shale plays is $73.
Say good bye to a lot of cap-ex budgets by E&P companies.
If you don't know what any of the above means for these companies.... see 1998.
OPEC only cares about MARKET SHARE and has everything tee'd up to inflict massive amounts of pain on high cost producers such as US shale projects in the Bakken and Permian.
The break-even cost for 30% of shale plays is $80.
The overall break-even price for all shale plays is $73.
Say good bye to a lot of cap-ex budgets by E&P companies.
If you don't know what any of the above means for these companies.... see 1998.
How does OPEC get the price to fall so far so fast? Are they selling massive volumes of contracts in the futures market, or lowering the price of the physical?
OPEC adjusts the production of the actual physical commodity...
More specifically, Saudi Arabia... and to a lesser extent Kuwait and the UAB.
Are you sure about that? The news reports I've seen indicated there is no supply pressure coming from OPEC countries and Saudi has announced it is not changing production in response to lower prices. I haven't checked any of the industry reports on supply, so you may very well be right.
