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re: Oil Wars: Why OPEC Will Win
Posted on 12/15/14 at 8:56 am to I Love Bama
Posted on 12/15/14 at 8:56 am to I Love Bama
Dude im sorry you dont know what you are talking about. I dont care what some obscure article said. The costs fir the Saudis to find, develop and produce their oil is way cheaper than it is for all the plays in the US and 95% of those around the world. They know this, we know this and its the # 1 reason they arent cutting production right now. They want to drive prices down to squeeze out all the small players in higher cost environments. They want market share by reducing the competition. They might WANT oil at $60 a barrel but they sure as hell dont need it there.
3
Posted on 12/15/14 at 9:06 am to lsugradman
quote:
Dude im sorry you dont know what you are talking about.
quote:
They want market share by reducing the competition.
Did you respond to the right person?
Posted on 12/15/14 at 9:10 am to lsugradman
Yes they do. Saudi makes money from oil. Oil funds all of their countries workings. All the money they spend, it cannot continue below $60-$68. It's true their lift costs are about $7, but that is meaningless when you know the entire story.
Saudi is the player here. Not OPEC.
Saudi has more reasons than the US Shale plays.
ISIS was also hurting Saudi. Saudi has effectively cut ISIS's ability to produce/refine their black market oil.
It will hurt some US shale plays, but the big boys will be in better position after all this is over. Should be no longer than a year.
Saudi is the player here. Not OPEC.
Saudi has more reasons than the US Shale plays.
ISIS was also hurting Saudi. Saudi has effectively cut ISIS's ability to produce/refine their black market oil.
It will hurt some US shale plays, but the big boys will be in better position after all this is over. Should be no longer than a year.
Posted on 12/15/14 at 9:15 am to lsugradman
quote:
They might WANT oil at $60 a barrel but they sure as hell dont need it there.
They don't want it to stay there; they can't afford it more than a year.
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