- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Oil suffers record plunge below $11 amid historic glut
Posted on 4/20/20 at 9:52 am
Posted on 4/20/20 at 9:52 am
With the price of oil and COVID, JBE will be looking to raise taxes
quote:
Despite OPEC+’s unprecedented output deal agreed a week ago, the oil market remains massively oversupplied as the lockdowns to fight the spread of the coronavirus reduce global crude demand by about a third. Storage tanks across the globe are rapidly filling, including at the key U.S. hub in Oklahoma.
“There is no limit to the downside to prices when inventories and pipelines are full,” tweeted Pierre Andurand, the head of the eponymous oil hedge fund. “Negative prices are possible,” he added.
quote:
There are signs of weakness everywhere. Buyers in Texas are offering as little as $2 a barrel for some oil streams, raising the possibility that producers may soon have to pay to have crude taken off their hands. The nearest timespread for the U.S. benchmark has fallen to its weakest level on record.
24
Posted on 4/20/20 at 9:53 am to WPBTiger
Half that price is probably the metal for the barrel.
Posted on 4/20/20 at 9:54 am to WPBTiger
quote:
There are signs of weakness everywhere. Buyers in Texas are offering as little as $2 a barrel for some oil streams
What happens when the price of a gallon of gas is more than a barrel of oil?
Posted on 4/20/20 at 9:55 am to WPBTiger
Planning to use my stimulus check to stock up on used truck nuts and mud tires, then resell them at new prices when oil goes back up
Posted on 4/20/20 at 9:55 am to WPBTiger
We'll have to count on Jaxxton taking the first round signing bonus right out of high school instead of playing college ball.
Posted on 4/20/20 at 9:57 am to WPBTiger
You know what else is plummeting?
The price of truck nuts
The price of truck nuts
Posted on 4/20/20 at 9:58 am to WPBTiger
quote:
Buyers in Texas are offering as little as $2 a barrel for some oil streams, raising the possibility that producers may soon have to pay to have crude taken off their hands
I'm not in the O&G industry or claim to know a whole lot about it, but that sentence I quoted is mind blowing in any industry.
Posted on 4/20/20 at 9:59 am to Jim Rockford
Louisiana budget is fricked. I believe they plan the budget for 65 a barrel. Of course JBE will get the blame when it is conservative legislators that set that up. Funny I hate the Democrats on the Federal level and the Republicans on the state level 
Posted on 4/20/20 at 10:00 am to tiger1014
Equating truck nuts to oil threads is pretty lazy.
Posted on 4/20/20 at 10:02 am to WPBTiger
Expect to see offshore production facilities start shutting in this week.
Posted on 4/20/20 at 10:03 am to WPBTiger
I dont see anything about JBE in there.
Posted on 4/20/20 at 10:04 am to iron banks
quote:
Funny I hate the Democrats on the Federal level and the Republicans on the state level
Their basically the same people.
Posted on 4/20/20 at 10:05 am to iron banks
(no message)
This post was edited on 10/22/20 at 7:46 pm
Posted on 4/20/20 at 10:07 am to WPBTiger
I got gas the other day at $0.33 a gallon at Kroger with my $1 off fill up. Cost me like $11.
Posted on 4/20/20 at 10:08 am to kywildcatfanone
Its K-Rogers where I'm from
Posted on 4/20/20 at 10:10 am to tiger1014
laugh it up. hundreds of thousands of people in the South are employed directly or indirectly by the O&G industry.
Posted on 4/20/20 at 10:11 am to kywildcatfanone
quote:
I got gas the other day at $0.33 a gallon at Kroger with my $1 off fill up. Cost me like $11.
I got .30 cents off a gallon at Kroger yesterday, filled up for $16.00
Posted on 4/20/20 at 10:11 am to WPBTiger
Governors dont raise taxes. Open a civics book.
Posted on 4/20/20 at 10:12 am to notiger1997
I think only one LA rig shut down last week. But almost 70 across the country shut just during last week, primarily Texas and New Mexico. But yes, probably a lot more this week
This post was edited on 4/20/20 at 10:14 am
Posted on 4/20/20 at 10:13 am to WPBTiger
RIP to my Halliburton stocks
Page 1 of 19
Back to top
Follow TigerDroppings for LSU Football News