Oil
- Thread starter CBradSmith
- Start date
Hopefully up.
Companies are staffing back up, and pretty rapidly right now. Activity in North America is definitely increasing.
If OPEC pulls the rug out and stops cutting production, it could drop.
Companies are staffing back up, and pretty rapidly right now. Activity in North America is definitely increasing.
If OPEC pulls the rug out and stops cutting production, it could drop.
I know that many Houston energy companies have been at St. John's recruiting lawyers so I would say up.
Trump has said he wants to focus on US energy. My parents both worked for Halliburton and my dad said Halliburton is looking to make Houston home again over Dubai.
Will go opposite as supply goes. Wih US oil companies ramping up again it will push prices down. Cost to produce per barrel has gone down though so most companies can survive at a lower price than they could have a couple years ago.
Will stay slushy between $40 and $55. Not too much movement barring anything crazy. But what about the last few months haven't been crazy?
Note that the benchmarks, e.g., WTI, what we mean when we give a per bbl price, is just a generalized benchmark. Sweeter crudes go for a premium, and sour crudes can go for at least $10-$15 below benchmark.
Short story, long: look for movement in the extremes first- that will drive the median benchmarks.
Note that the benchmarks, e.g., WTI, what we mean when we give a per bbl price, is just a generalized benchmark. Sweeter crudes go for a premium, and sour crudes can go for at least $10-$15 below benchmark.
Short story, long: look for movement in the extremes first- that will drive the median benchmarks.
Yep. Was giving a perspective on where oil might be going. WTI is what most production contracts are based on, but often you can see upward/downward pressure indications based on the non-benchmarked prices. E.g., North Slope crude or North Sea production through London.
I read something last week calling for $70 by summer (B of A target).
Both are ridiculous predictions.
My guess is $45 to $55 range closing near $60 by end of year.
Was pondering if we are close to entering a medium-long term bear market in oil....price....due to components mentioned above, specifically production cost lowering as new technologies have proliferated.
Maybe. Peak oil predictions were incorrect, no reason to believe these as well.
My company just brought our condensate splitter online ( more info here http://www.reuters.com/article/us-usa-oil-condensate-splitters-factbox-idUSKBN0UB09720151228 ) so we're hoping for some more domestic production especially in west texas, not just because the splitter but because we have pipe from west texas to houston =].
Think I remember the father-in-law mentioning this. He is on NG for Occidental, but still gets all the crude info.
Here is the article where the guy predicts a huge crash.https://www.lombardiletter.com/oil-prices-crash-26-barrel/8922/
"dirtiest most nasty form of oil around, the tar sands"
wtf exactly does cramer think the oil and gas business is? white table cloth dining or pharmaceutical production lol
i don't disagree with the message just funny how cramer characterizes for entertainment value
wtf exactly does cramer think the oil and gas business is? white table cloth dining or pharmaceutical production lol
i don't disagree with the message just funny how cramer characterizes for entertainment value
Cramer is an idiot. He always backs the current trajectory. If oil is going down, it's going to keep going down. Once it starts going up, it's not gong to stop. I'm not sure he has made a serious correct call in many years.
It'll be interesting to see what OPEC does next. I'm guessing the Saudis would prefer to ramp production back up in an attempt to squeeze out some U.S. producers, but that could take several years to have any meaningful impact on overall U.S. production. Especially given that breakeven levels in certain regions of the U.S. (especially the Bakken) will begin to drop as new pipelines come online.
Meanwhile, I saw earlier this week that the number of DUCs is beginning to grow again, including in the Permian.
The next couple of years will be interesting.
Meanwhile, I saw earlier this week that the number of DUCs is beginning to grow again, including in the Permian.
The next couple of years will be interesting.
https://www.bloomberg.com/news/arti...fting-oil-tanker-that-signals-opec-s-struggle
“The dollar is super weak. That will give a small boost to oil, but any rally in the crude oil market needs to be sold at the moment. OPEC doesn’t seem very compliant with their curbing and that API was a nice little build,” Phil Streible, senior market strategist at RJO Futures in Chicago, said by telephone. “If we get a build in both gasoline and crude oil, we’ll cut through $44 like butter.”
“The dollar is super weak. That will give a small boost to oil, but any rally in the crude oil market needs to be sold at the moment. OPEC doesn’t seem very compliant with their curbing and that API was a nice little build,” Phil Streible, senior market strategist at RJO Futures in Chicago, said by telephone. “If we get a build in both gasoline and crude oil, we’ll cut through $44 like butter.”
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