- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Crude above 50
Posted on 12/1/16 at 11:24 am
Posted on 12/1/16 at 11:24 am
How high will it go with OPEC cutting production?
I think 100 is a possibility by next summer
I think 100 is a possibility by next summer
This post was edited on 12/1/16 at 11:25 am
20
Posted on 12/1/16 at 11:25 am to TigersHuskers
Hopefully it peaks at about $65
Posted on 12/1/16 at 11:26 am to TigersHuskers
We shouldn't see 100 again.
Evuh.
Evuh.
Posted on 12/1/16 at 11:28 am to TigersHuskers
Posted on 12/1/16 at 11:29 am to TigersHuskers
quote:
I think 100 is a possibility by next summer
I am assuming a troll attempt???
I do not think $100 comes around for a long time (years, maybe decades), unless OPEC decides to just quit exporting entirely. Iraq and Iran are back in the market, plus US Shale is ready to rock.
Of course this is subject to change if we have some Middle East wars break out as usual.
Posted on 12/1/16 at 11:29 am to TigersHuskers
Can't say I wanna pay $40 to fill up my car again. Don't give a shite how many baws are out of the job
Posted on 12/1/16 at 11:29 am to TigersHuskers
As an oil investor, I hope the sky is the limit.
Posted on 12/1/16 at 11:33 am to TigersHuskers
lol $100 is never again in your lifetime bro
Posted on 12/1/16 at 11:35 am to TigersHuskers
Wow Trump is an hero!
Posted on 12/1/16 at 11:47 am to TigersHuskers
Posted on 12/1/16 at 12:14 pm to TigersHuskers
OPEC as cut production from an all time high of 34.3 million barrels a day. Their cut is 5% divided amongst OPEC and Non-OPEC (1.2 Mbbl/d OPEC vs .6 Mbbl/d).
In an Ideal World: The IEA says 3rd quarter 2016 global supplies exceeded demand by 300,000 bbls/day. So according to them, this production will throw us into a deficit reducing oil storage and thus the price will go up.
In a Realistic World: A) The IEA is known for having inaccurate estimates in the past, take the surplus comment with a grain of salt.
B) We are talking about OPEC making a cut, a conglomerate of countries that are always trying to screw each other. They made a cut back in 2008 of around 2 Mbbls/day. Afterwards it was reported that several countries were reported to have not been producing at their regulated rate several MONTHS after.
C) This cut is predicated on non-OPEC countries, mainly Russia, making their 600,000 bbl/day cut as well. Although Russia has been on board as of late, due to their economic strain from oil prices.
In the end, we still have a pretty massive surplus although it is not as bad as last year. But with the elevated prices you will see more development and DUC wells drilled, mostly in the US.
We will eventually run a deficit of oil, but not till mid next year and you won't be seeing $100/bbl more like $65, maybe $70 by the end of the year if OPEC follows through.
It'll be a long time before you see $100 again.
In an Ideal World: The IEA says 3rd quarter 2016 global supplies exceeded demand by 300,000 bbls/day. So according to them, this production will throw us into a deficit reducing oil storage and thus the price will go up.
In a Realistic World: A) The IEA is known for having inaccurate estimates in the past, take the surplus comment with a grain of salt.
B) We are talking about OPEC making a cut, a conglomerate of countries that are always trying to screw each other. They made a cut back in 2008 of around 2 Mbbls/day. Afterwards it was reported that several countries were reported to have not been producing at their regulated rate several MONTHS after.
C) This cut is predicated on non-OPEC countries, mainly Russia, making their 600,000 bbl/day cut as well. Although Russia has been on board as of late, due to their economic strain from oil prices.
In the end, we still have a pretty massive surplus although it is not as bad as last year. But with the elevated prices you will see more development and DUC wells drilled, mostly in the US.
We will eventually run a deficit of oil, but not till mid next year and you won't be seeing $100/bbl more like $65, maybe $70 by the end of the year if OPEC follows through.
It'll be a long time before you see $100 again.
Posted on 12/1/16 at 12:26 pm to TigersHuskers
Let's get it to $65-70 and hold.
Posted on 12/1/16 at 12:38 pm to TigersHuskers
quote:
How high will it go with OPEC cutting production?
well they were producing at 2 million per day over the estimate for demand. they cut it by 1.2 mill per day and demand is projected to increase by 2 mill per day next year.
I would say its going to get pretty high.
Posted on 12/1/16 at 12:58 pm to TigersHuskers
Ford and truck nut futures are WAY up, baws.
"We're going back to work!"
:whootwhoot:
"We're going back to work!"
:whootwhoot:
Posted on 12/1/16 at 1:07 pm to TigersHuskers
going to nestle around 68ish then dip back down to around 55
Posted on 12/1/16 at 1:12 pm to TigersHuskers
quote:
I think 100 is a possibility by next summer
Don't quit your day job
Posted on 12/1/16 at 1:14 pm to TigersHuskers
quote:
100
but I doubt it.
Posted on 12/1/16 at 1:34 pm to TigersHuskers
OPEC is making sure that oil will not go above $70 in order to eliminate fracking. Oil is not going to $100 anytime soon. Bank on it.
Posted on 12/2/16 at 9:42 pm to TigersHuskers
Demand is still too low, prices will remain well below 60.
If war breaks out, then all bets are off.
If war breaks out, then all bets are off.
Posted on 12/2/16 at 10:01 pm to TigersHuskers
Gas prices started creeping back up.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News