the dropping oil price

[EdwardBaiamonte]

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Do you feel that the Saudi strategy with oil is in any way equivalent? LOL!

"The Saudis have attempted to mitigate the revenue shortfall through increased production, ramping up output from 9.6 million barrels per day in the fourth quarter of 2014 to an eye-popping 10.5 million barrels per day in June".

 

[Toddsterpatriot]

.

Do you feel that the Saudi strategy with oil is in any way equivalent? LOL!

"The Saudis have attempted to mitigate the revenue shortfall through increased production, ramping up output from 9.6 million barrels per day in the fourth quarter of 2014 to an eye-popping 10.5 million barrels per day in June".

, ramping up output from 9.6 million barrels per day in the fourth quarter of 2014 to an eye-popping 10.5 million barrels

Hmmmm......what's more, 9.6 million times $100 or 10.5 million times $40?
Let me know if you need help with the math.

 

[Jomama]

There will be a lot of bankrupt bargains in the oil patch over the next two years. Prices wont stay low for ever and the US$ wont stay strong for ever. There is probably a natural longterm price around (guessing) $75/bbl, which will support a well positioned and restructured company.

 

[william the wie]

There will be a lot of bankrupt bargains in the oil patch over the next two years. Prices wont stay low for ever and the US$ wont stay strong for ever. There is probably a natural longterm price around (guessing) $75/bbl, which will support a well positioned and restructured company.

The key question is pipeline construction between lower shipping costs and bargain basement field pickups natural gas could reach something close to PA prices of $2/bbl equivalent. That could happen as soon as the 3rd qtr of 2016.

 

[initforme]

It would be great to see oil drop to almost zero. No more record profits for big oil. Tsk tsk

 

[william the wie]

It would be great to see oil drop to almost zero. No more record profits for big oil. Tsk tsk

Based on ROI oil has always been boom or bust as in never put your money in airlines or oil majors unless you need a tax loss except at multi-year lows. Only thing worse is buying alternative energy

 

[EdwardBaiamonte]

It would be great to see oil drop to almost zero. No more record profits for big oil. Tsk tsk

yes and all the incentive in the world to burn carbon and heat the planet!! Stupid??