Everytime OPEC Shuts a Pump Down One Starts Pumping in North Dakota

[Weatherman2020]

THANKS, FRACKERS!

OPEC’s Prospective Deal May Not Create a Lasting Oil Rally.

Oil prices surged after the Organization of the Petroleum Exporting Countries said late Wednesday that its members proposed to curb output, the first major agreement since the oil bear market began in 2014. But despite the surprise outcome, the price of crude was slightly lower on Thursday and many banks, including Goldman Sachs, Société Générale, Jefferies and UBS, are standing pat on their oil-price forecasts for the coming months.

 

[Old Rocks]

Have you ever considered doing more research before you post? In spite of increasing numbers of wells, the production of the Bakken field is going down.

https://www.dmr.nd.gov/oilgas/stats/historicalbakkenoilstats.pdf

 

[Weatherman2020]

Have you ever considered doing more research before you post? In spite of increasing numbers of wells, the production of the Bakken field is going down.

https://www.dmr.nd.gov/oilgas/stats/historicalbakkenoilstats.pdf

Of course it's going down. Wells are being closed because of the price of crude, dufus. But Everytime it begins to rise they turn them back on and the price drops again. Get a clue.

 

[Mr. H.]

We need more demand, but for the last eight years it has remained stagnant. At least here in the U.S.

There is a direct correlation between fossil fuel demand and GDP. Obama has killed both.

Fuck that weasel. I'll be glad when he's gone. We need a Republican in the White House who believes in the work ethic (and ethics in general), not another snivelling Socialist.