- 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
Saudi and Russia agree to Oil freeze?
Posted on 4/12/16 at 10:10 am
Posted on 4/12/16 at 10:10 am
We'll see how this works. Maybe I'll be able to move from service to operator by the end of the year.
6
Posted on 4/12/16 at 10:32 am to b-rab2
quote:
We'll see how this works. Maybe I'll be able to move from service to operator by the end of the year.
I hope not. These low oil prices are a huge boost to the middle class right now. I would prefer to not have to use my card twice to fill up my truck again.
Posted on 4/12/16 at 10:33 am to b-rab2
Where are you seeing this?
Posted on 4/12/16 at 10:38 am to TJG210
quote:
Where are you seeing this?
This
But I don't think freezing the output levels will do enough, there needs to be a reduction in supply.
Posted on 4/12/16 at 10:38 am to TJG210
Posted on 4/12/16 at 10:40 am to b-rab2
Isn't production already at or near all time high? I just don't see how a freeze is going to help, other than with sentiment. Frankly, isn't some of the small US producers going under the only way out of this glut?
I not rooting for anybody to lose their jobs, but just trying to have an honest discussion regarding supply and demand. Unless demand picks up or supply goes down (meaning US Companies don't jump back in if oil hits $50+) it's hard to imagine a substantial move up for oil prices.
TLDR: smoke and mirrors
I not rooting for anybody to lose their jobs, but just trying to have an honest discussion regarding supply and demand. Unless demand picks up or supply goes down (meaning US Companies don't jump back in if oil hits $50+) it's hard to imagine a substantial move up for oil prices.
TLDR: smoke and mirrors
Posted on 4/12/16 at 10:45 am to b-rab2
The article isn't very convincing and I can't find it on any reliable financial news sites. This would be significant, widely reported news.
Posted on 4/12/16 at 11:00 am to cwill
Oil futures did pop.. And that's also why the subject has a question mark.
Posted on 4/12/16 at 11:09 am to b-rab2
quote:
Oil futures did pop.. And that's also why the subject has a question mark.
Yea our stock popped up a decent amount so far too.
Posted on 4/12/16 at 11:17 am to WavinWilly
Yeah same here
Posted on 4/12/16 at 11:35 am to castorinho
Posted on 4/12/16 at 12:04 pm to whodatigahbait
The reality is we're finding oil all over the world, i dont think we ever see $80-100 ever again. Its just not as scarce as originally thought. $40-60 is probably a good equilibrium for the world long term.
We have a massive oversupply as is. We had an oversupply before Iran was selling oil again and they are sitting on millions of barrels floating in tankers. Iran said it won't agree and that it intends to increase production to its post sanction levels.In what sane world does the price of something go up when supply exceeds demand and is expected to stay that way
We have a massive oversupply as is. We had an oversupply before Iran was selling oil again and they are sitting on millions of barrels floating in tankers. Iran said it won't agree and that it intends to increase production to its post sanction levels.In what sane world does the price of something go up when supply exceeds demand and is expected to stay that way
This post was edited on 4/12/16 at 12:22 pm
Posted on 4/12/16 at 12:10 pm to dabigfella
True, but you have more countries now utilizing it. If India becomes another China, that's a lot of oil they're going to need to support that growth.
Posted on 4/12/16 at 12:21 pm to TJG210
Saudi and Russia rely 10x more on Oil money than the USA, there is no way they can "freeze" anything long term. All that does it hurt US oil and gas, it has yet to be proven to long term affect our economy like it absolutely will to Saudi and Russia. So I say bring it.
As said, oil has been found and collected in many more non traditional places in the past 10 years. Just like oil has been boom and bust in the past, it will be a bust for all the smaller places while the price stays low, but its not like its going to go up past say $60/ barrel anytime soon because as soon as it does increase more and more of your smaller operations will kick back online and keep the production/ demand in check.
As said, oil has been found and collected in many more non traditional places in the past 10 years. Just like oil has been boom and bust in the past, it will be a bust for all the smaller places while the price stays low, but its not like its going to go up past say $60/ barrel anytime soon because as soon as it does increase more and more of your smaller operations will kick back online and keep the production/ demand in check.
Posted on 4/12/16 at 12:28 pm to dabigfella
quote:
We had an oversupply before Iran was selling oil again
you really think they ever stopped?
Posted on 4/12/16 at 1:28 pm to Tigerpaw123
I was hoping this would cause a drop in prices, this is going counter to the economics. May just dump what I have been holding into COP and call it a wrap.
Posted on 4/12/16 at 1:54 pm to JamalSanders
quote:
I hope not. These low oil prices are a huge boost to the middle class right now. I would prefer to not have to use my card twice to fill up my truck again.
Stabilized low prices are good for the middle class. The uncertainty in oil prices is hurting the economy and adds cost to the price of gas too
Posted on 4/12/16 at 2:12 pm to GREENHEAD22
quote:
I was hoping this would cause a drop in prices, this is going counter to the economics
Why would this cause a drop?
Not sure if anyone noticed, but there is also note at the bottom that there is a looming oil workers strike in Kuwait.
Posted on 4/12/16 at 2:18 pm to TJG210
quote:
Why would this cause a drop?
Because the freeze is at the record high output. The bet is that price will stabilize & slowly trend down assuming demand stays the same or drops.
This post was edited on 4/12/16 at 2:22 pm
Posted on 4/12/16 at 3:56 pm to jonboy
Reality Strikes Again
API is generally a little less reliable than EIA though, so there's still some hopium left in the bottle.
API is generally a little less reliable than EIA though, so there's still some hopium left in the bottle.
Page 1 of 3
Back to top
Follow TigerDroppings for LSU Football News