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Started By
Message
re: Oil plummets 7% to 55 dollars a barrel
Posted on 11/13/18 at 4:59 pm to tigrbabe08
Posted on 11/13/18 at 4:59 pm to tigrbabe08
quote:
Volatility sucks (although there is money to be made), I'd rather a stable $70 for the next 20 years than swinging between $30 and $100. This drop may be the catalyst for OPEC to cap/cut production at the meeting this month (next month?) which could end up causing prices to rise.
I forget where but I read that OPEC was already considering a cut in production before the recent drop.
1
Posted on 11/13/18 at 4:59 pm to fallguy_1978
Crude above 65 is good for me. Natural gas being high is even better because it props up coal.
Posted on 11/13/18 at 5:02 pm to TigersHuskers
quote:
Crude above 65 is good for me. Natural gas being high is even better because it props up coal.
It's good for my state. But we should have diversified into other industries long ago.
It's probably good at low prices for some of the plants that aren't refineries. I'd imagine fuel is a big input cost for them.
This post was edited on 11/13/18 at 5:03 pm
Posted on 11/13/18 at 5:03 pm to fallguy_1978
quote:
It's good for my state. But we should have diversified into other industries long ago
People in Louisiana have to stop being stupid first. You can't have businesses where there are no viable employees.
Posted on 11/13/18 at 5:06 pm to deltaland
It overshot to the upside a bit earlier this fall and now it’s overshot to the downside a bit. I wouldn’t be surprised to see it settle in the 60’s soon that’s what the fundamentals point to.
Posted on 11/13/18 at 5:06 pm to Mingo Was His NameO
quote:
People in Louisiana have to stop being stupid first
You know that ain't happening.
Posted on 11/13/18 at 5:08 pm to TigersHuskers
quote:
You know that ain't happening.
I have multiple college degrees from the prestigious Louisiana State University baw
Posted on 11/13/18 at 5:11 pm to fallguy_1978
I have a degree too and I work for the railroad. College is a waste.
Posted on 11/13/18 at 5:13 pm to Dr RC
quote:
forget where but I read that OPEC was already considering a cut in production before the recent drop.
Yes. That is their plan. Trump came out today and urged them not to and the reason for the drop in pricing today.
Posted on 11/13/18 at 5:16 pm to kciDAtaE
quote:
Yes. That is their plan. Trump came out today and urged them not to and the reason for the drop in pricing today.
I would think Trump at the moment has the Saudis by the nuts over the killing of the journalist last month.
Posted on 11/13/18 at 5:19 pm to Mingo Was His NameO
quote:
Average price in Louisiana is already at 2.41. Alabama at 2.43
Just passed $1.99 gallon at Exxon in tejas
Posted on 11/13/18 at 5:20 pm to tigrbabe08
quote:
I'd rather a stable $70 for the next 20 years than swinging between $30 and $100.
+1
I'd much rather pay a little bit more for gasoline and have better economic conditions in Louisiana. Everything is so intertwined with how goes the oil patch
Posted on 11/13/18 at 5:28 pm to rattlebucket
2.69 in WI 
Posted on 11/13/18 at 5:32 pm to deltaland
Jody’s are all out of jobs with everybody back home
Posted on 11/13/18 at 5:32 pm to Cosmo
quote:
Oilfield honeys
<>
quote:
pure barre memberships
Posted on 11/13/18 at 5:38 pm to kciDAtaE
Oil prices are less about supply and more about the US dollar and interest rates...when US rates rise, dollar strengthens, oil prices fall...an inverse relationship...it has been out of whack early this year...that is why oil prices are falling... catching up with dollar strengthening
Posted on 11/13/18 at 5:39 pm to hubreb
quote:
Oil prices are less about supply
Oil prices have a shite load to do with supply
Posted on 11/13/18 at 5:43 pm to sjmabry
quote:
I got gas last week in Universal City, TX for $2.13.
Saw it for $2.05 today
Posted on 11/13/18 at 5:44 pm to Mingo Was His NameO
quote:
Oil prices have a shite load to do with supply
Nope, more about currency valuations then anything else
Just Google: inverse relationship between oil prices and dollar index
Rates and economics are my business, tracking currencies and commodities is part of it
Posted on 11/13/18 at 5:44 pm to deltaland
If you’re happy about this you must hate your state
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