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re: Oil dive deepens to 12-year low; could hit $20 on China fears
Posted on 1/13/16 at 8:14 am to tigerinthebueche
Posted on 1/13/16 at 8:14 am to tigerinthebueche
Seems like they will take this lull to sneak it in there.
0
Posted on 1/13/16 at 9:16 am to sullivanct19a
quote:
I do think a lot of this is Obama's fault
Please explain how Obama has caused a drop in oil prices?
Posted on 1/13/16 at 9:29 am to jlu03
You tell us, he took the credit for it last night.
Posted on 1/13/16 at 9:54 am to tigerpimpbot
Well yeah, I mean we effectively have supply going overtime while demand is weakening
supply and demand never fails unless the markets are manipulated
I am interested to see the inventory numbers today
supply and demand never fails unless the markets are manipulated
I am interested to see the inventory numbers today
Posted on 1/13/16 at 3:32 pm to cave canem
quote:You have to to cover your shorts. That's what causes a rally at the bottom.
No one buys futures while the price is still falling my friend.
Posted on 1/15/16 at 7:17 am to Bullfrog
WTI oil currently at $29.49 this morning. Down 5.5%
Posted on 1/15/16 at 7:23 am to saintforlife
We got word yesterday that all our operations in my current country will be winding down in approximately 3 months. We were the last country running in the entire region. I'm not sure what I'll do next. It looks extremely grim.
Posted on 1/15/16 at 7:26 am to redstick13
quote:Sorry to hear that redstick. I hope something even better turns up for you.
I'm not sure what I'll do next. It looks extremely grim.
Posted on 1/15/16 at 7:26 am to jlu03
Looks like it's not at a firm bottom yet. 
Who'd a thunk it.
Redstick. Good luck!
Who'd a thunk it.
Redstick. Good luck!
Posted on 1/15/16 at 7:33 am to Bullfrog
25 years in the industry and I've never been laid off. I'm not sure even I can survive this downturn.
Posted on 1/15/16 at 7:40 am to redstick13
I'm probably getting the axe very soon as well.
Posted on 1/15/16 at 7:41 am to redstick13
Seems like this drop is caused by:
1. China slowing manufacturing - consuming less oil;
2. OPEC countries fighting, can't get their shite together to prop up price;
3. Iran sanctions lifting now flooding market with its oil.
Am I missing anything?
1. China slowing manufacturing - consuming less oil;
2. OPEC countries fighting, can't get their shite together to prop up price;
3. Iran sanctions lifting now flooding market with its oil.
Am I missing anything?
Posted on 1/15/16 at 7:47 am to Halftrack
US shale plays flooding the market also. The price has no chance of stabilizing until US production starts to decline. That's assuming China's economy stabilizes.
Posted on 1/15/16 at 7:48 am to jlu03
Sorry to hear. I'm hoping to find something in the ME. I have a line on a few things. My plan is to find work there and live in Namibia. I still get my tax break and cost of living will be extremely low.
Posted on 1/15/16 at 7:49 am to Halftrack
quote:You'll never get Saudi to agree to do that again. They got f'd on market share the last time they did it and will make everyone else get f'd this go around and every other one after this.
can't get their shite together to prop up price
Posted on 1/15/16 at 7:53 am to redstick13
quote:Not sure of your qualifications but Saudi Aramco is gobbling people up left and right. If I didn't have a 7 yr old daughter I'd seriously consider doing it for a couple of years.
I'm hoping to find something in the ME.
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