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re: Saudis declare price war
Posted on 3/8/20 at 9:54 am to ocelot4ark
Posted on 3/8/20 at 9:54 am to ocelot4ark
How will this affect truck prices. I’m going to look at and maybe buy a used truck Friday.
0
Posted on 3/8/20 at 10:05 am to upgrayedd
quote:
I guess the rumors of the crown prince dying are true
Had dinner with him in Gstaad a couple of weeks ago and he seemed fine. Told me a joke I can't really repeat here, but suffice it to say he's a pretty fun little dude, in small doses.
Posted on 3/8/20 at 10:10 am to stout
I understand that SA can sell a barrel of oil for $10 and still mske a profit, but don't they need it to be in the $40 range to balance their budget?
Posted on 3/8/20 at 10:13 am to N2cars
quote:
I understand that SA can sell a barrel of oil for $10 and still mske a profit, but don't they need it to be in the $40 range to balance their budget?
That’s why this thing is dangerous. Those OPEC baws aren’t going to allow their pockets to take the hit for long.
Posted on 3/8/20 at 10:39 am to Privateer 2007
You scared I'm gonna take your shift baw?
Posted on 3/8/20 at 10:42 am to N2cars
quote:
I understand that SA can sell a barrel of oil for $10 and still mske a profit, but don't they need it to be in the $40 range to balance their budget?
Breakeven for onshore wells is $5.90. Their offshore heavy crude wells is much higher and why they took a long time to develop those fields
Posted on 3/8/20 at 10:57 am to SuperSaint
quote:
No 30A trips this year
It will be fine. Your alter “S” prints money. Everyone gets a free vacay.
Posted on 3/8/20 at 11:09 am to CitizenK
quote:
Breakeven for onshore wells is $5.90. Their offshore heavy crude wells is much higher and why they took a long time to develop those fields
You sound competent on the subject. Do you know how the will affect long term plans on unconventional wells for Aramco? We kissed some major arse and are still waiting on ALS agreements for an unconventional project.
Posted on 3/8/20 at 11:12 am to ocelot4ark
quote:
From now on all posts to be from the perspective of oil-industry workers, as the predominant workforce in the US.
considering this forum is based in south, Louisiana...yes
Posted on 3/8/20 at 11:47 am to NotoriousFSU
quote:
Have no expertise of what’s going on but did some quick research on google and am wondering why this “price war” is worth any panic? Seems like we’ll be fine.
Because the only reason we’re buying/producing our own is that high global prices make it financially viable. That will no longer be the case and both the US and the countries you listed will buy from the cheapest source.
Posted on 3/8/20 at 12:07 pm to Jim Rockford
This will make life better for Tundra owners like myself.
Posted on 3/8/20 at 12:07 pm to The Torch
i felt a great disturbance in the force, as if millions of Jodys cried out in terror and were suddenly silenced.
Posted on 3/8/20 at 2:12 pm to OweO
quote:you are really fricking dumb
I hope yall commented without reading the article because if yall read it and didn't understand they are slashing prices.. Then yall have some serious comprehension problems.
Posted on 3/8/20 at 3:36 pm to The Goon
My understanding is that unconventional plays under KSA is natural gas not oil/ At present they don't export NG but use for their own industry growth
Posted on 3/8/20 at 4:35 pm to Nado Jenkins83
So you have never worked in a plant before
This post was edited on 3/8/20 at 4:56 pm
Posted on 3/8/20 at 5:04 pm to Irishspecialist
There it is boys, down 23% about two minutes after open.
Last one out, shut the lights off. Really sucks if you work in the oil industry in any capacity, but US E&P is done.
Posted on 3/8/20 at 5:32 pm to OleWarSkuleAlum
quote:
OleWarSkuleAlum
You gonna fill up the airplane?
Posted on 3/8/20 at 5:42 pm to Boring
quote:
Last one out, shut the lights off. Really sucks if you work in the oil industry in any capacity, but US E&P is done.
Gets said every few years
Posted on 3/8/20 at 6:12 pm to fightin tigers
quote:
Gets said every few years
It's the largest percentage drop for Brent since January 1991.
Posted on 3/8/20 at 6:55 pm to redstick13
People are posting like this is a good thing. They have no idea what is about to happen.
They think they will not be effected and some how one of the largest sectors in our economy with trillions of investment dollars wiped away will have no effect on their lives.
They think they will not be effected and some how one of the largest sectors in our economy with trillions of investment dollars wiped away will have no effect on their lives.
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