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Started By
Message
Saudi vs Iran Oil makes a comeback
Posted on 1/5/16 at 1:12 am
Posted on 1/5/16 at 1:12 am
$100 per barrel on its way. Never thought those (insert adjective) mid easterners could keep their crap together long enough to keep 'Merica" down.
#goingbacktowork #oilboom
#goingbacktowork #oilboom
5
Posted on 1/5/16 at 1:45 am to Jp1LSU
Nah, did you see the news that with this saudi will pump even more to keep prices low to break Iran. Believe I want nothing more than $100 barrel.
Currently down in overseas trading.
I don't the needle moves on this unless there is actual combat.
Currently down in overseas trading.
I don't the needle moves on this unless there is actual combat.
This post was edited on 1/5/16 at 1:47 am
Posted on 1/5/16 at 9:26 am to Jp1LSU
Wishful thinking, my friend.
The Saudi's are going to try to "Wal-Mart" everyone else out of business. With the sanctions just starting to life, Iran isn't really contributing anything to the global oil market now. If something prevents them from doing so, no changes. If they can produce oil, prices are going down, not up.
OPEC is basically done. It's everyone for themselves now over there.
The Saudi's are going to try to "Wal-Mart" everyone else out of business. With the sanctions just starting to life, Iran isn't really contributing anything to the global oil market now. If something prevents them from doing so, no changes. If they can produce oil, prices are going down, not up.
OPEC is basically done. It's everyone for themselves now over there.
Posted on 1/5/16 at 9:30 am to TJG210
they will instead prop up proxy wars in an effort to de-stabilize governments.
not much will come of this i think.
but would love if these punks would end their BS by fighting it out.
Saudis can frick off for all i care, although we would undoubtedly back them.
not much will come of this i think.
but would love if these punks would end their BS by fighting it out.
Saudis can frick off for all i care, although we would undoubtedly back them.
Posted on 1/5/16 at 9:31 am to Jp1LSU
This is an OT lounge post.
Posted on 1/5/16 at 12:01 pm to Jp1LSU
Currently down 1.42% in trading.
Posted on 1/5/16 at 5:52 pm to Jp1LSU
Its scary how little impact this event is having on the oil markets. Several years ago this type of action in the ME would have easily had caused a 5-8% spike until resolved. We really are vastly oversupplied and until shale output is forced to significantly decrease we are in for a long, slow rise back to seeing even a $55 range.
I am thinking 3Q 16' is the earliest we start to see a rise towards $40-45. This is IF shale production continues to decrease.
One bullish view I have is that Irans barrels that are going to "come back" into the market I think were never really taken out. They just were on the black market but still found their way to be sold. Just a theory of mine with nothing really backing it up. Just too much money to be made for ppl not to move the crude. This is why they are slowly moving the crude back online instead of rapidly ramping production.
my two cents...
I am thinking 3Q 16' is the earliest we start to see a rise towards $40-45. This is IF shale production continues to decrease.
One bullish view I have is that Irans barrels that are going to "come back" into the market I think were never really taken out. They just were on the black market but still found their way to be sold. Just a theory of mine with nothing really backing it up. Just too much money to be made for ppl not to move the crude. This is why they are slowly moving the crude back online instead of rapidly ramping production.
my two cents...
This post was edited on 1/5/16 at 5:53 pm
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