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Started By
Message
Oil & Gas Production
Posted on 4/2/20 at 3:14 pm
Posted on 4/2/20 at 3:14 pm
Friend heard that Russia & Saudi Arabia just settled their pissing match over the amount of oil production. As a result, the Saudia's will cut back on the production of oil, driving up the price per barrel, a huge helping hand to our oil & gas industries. Any confirmation? Or old news?
10
Posted on 4/2/20 at 3:16 pm to Keltic Tiger
Your friend is Trump????
Posted on 4/2/20 at 3:16 pm to Keltic Tiger
It was only a matter of time. They were bleeding money as well.
Posted on 4/2/20 at 3:17 pm to Keltic Tiger
Is your friend a friend of the prince?
Hard to believe that your friend knows more than any of the news outlets. Not to mention that it's the middle of the night in those two countries.
Hard to believe that your friend knows more than any of the news outlets. Not to mention that it's the middle of the night in those two countries.
Posted on 4/2/20 at 3:18 pm to TigerFred
It has to be true - it wouldn't be on TD if it wasn't.
Posted on 4/2/20 at 3:19 pm to Keltic Tiger
Doesn’t matter. Nobody is using oil right now 
Posted on 4/2/20 at 3:20 pm to TigerFred
$.87/gal a gas was fun while we had it
Posted on 4/2/20 at 3:23 pm to ellishughtiger
Friend said he read it somewhere, an AP release, yahoo, etc. Did ask for any confirmation, got the expected a-hole comments.
Posted on 4/2/20 at 3:23 pm to Keltic Tiger
There was talk of a deal being reached soon. No confirmation yet
Posted on 4/2/20 at 3:26 pm to Keltic Tiger
You just finished watching There Will Be Blood haven't you?
Posted on 4/2/20 at 3:46 pm to TigerFred
You didn’t know oil field baws know more about the economics of oil than the prince of Saudi Arabia?
Posted on 4/2/20 at 4:20 pm to Keltic Tiger
OP is an idiot.
Trump tweeted about this early this morning hence why WTI increased by 24% this morning.
Trump tweeted about this early this morning hence why WTI increased by 24% this morning.
quote:
President Trump said Thursday he spoke with Saudi Crown Prince Mohammad bin Salman, who had earlier spoken with Russian strongman Vladimir Putin, and that he hoped Saudi Arabia would cut oil production to boost prices. “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!” Trump tweeted. “Could be as high as 15 Million Barrels. Good (GREAT) news for everyone!” he added in a second post. The tweets came after the Saudi Arabian regime and Russia suggested Thursday they were ready to cooperate to help stabilize the oil market after calls with Trump to discuss the slump in prices triggered by the end of their deal to curb output.
This post was edited on 4/2/20 at 4:24 pm
Posted on 4/2/20 at 4:21 pm to A Menace to Sobriety
No clue what you are talking about. I have a son in the industry, he's hurting,so this matters a lot to me.
Posted on 4/2/20 at 4:22 pm to Keltic Tiger
My sauce found out just before your sauce. I didn't want to be that guy.
Posted on 4/2/20 at 4:23 pm to Keltic Tiger
Still producing more that what we using each day
Posted on 4/2/20 at 4:25 pm to Keltic Tiger
All I can tell you is that price war was never going to last. Neither the Saudis or the Russians could afford it. They have private companies over there also that cannot handle oil at that price.
If you really want to know what the longer term outlook is/was before their supposed agreement all you have to do is look at oil Futures contracts. In the futures contracts oil is back above $30 in June and it rises a little each month up to around $34 to $35 by end of year or first month or two of 2021. Yes, the futures contracts have already taken Coronavirus and lower oil demand into account.
If you really want to know what the longer term outlook is/was before their supposed agreement all you have to do is look at oil Futures contracts. In the futures contracts oil is back above $30 in June and it rises a little each month up to around $34 to $35 by end of year or first month or two of 2021. Yes, the futures contracts have already taken Coronavirus and lower oil demand into account.
Posted on 4/2/20 at 4:26 pm to TigerFred
quote:
Hard to believe that your friend knows more than any of the news outlets.
The Washington Post reported it before lunch.
Posted on 4/2/20 at 4:31 pm to tigerbutt
Not sure why I am an idiot for repeating what a friend, in the industry for 30 yrs in a top echelon position in his Fortune 500 company, told me. I was simply asking for confirmation,one way or the other.
Posted on 4/2/20 at 4:32 pm to Penrod
quote:
The Washington Post reported it before lunch.
Link?
Posted on 4/2/20 at 4:33 pm to Keltic Tiger
Well see if you woulda told the group all of that right off the bat no one would have messed with you.
Nah. You would still get fricked with.
Nah. You would still get fricked with.
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