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$100 per barrel oil by summer
Old 01-04-2018, 06:37 AM   #1
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$100 per barrel oil by summer

$4+ per gallon gas should dull any tax relief.
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Old 01-04-2018, 06:52 AM   #2
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You know that price is less than $2.50/gallon, right?
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Old 01-04-2018, 06:55 AM   #3
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Quote:
Originally Posted by Free bird View Post
$4+ per gallon gas should dull any tax relief.
Just curious as to the source of your oil price spike prediction. The folks in the TX oil patch would love it but I don't think they are forecasting anything like this, even in their wildest dreams.

Quote:
Crude oil prices will average $57/b in 2018.
https://www.thebalance.com/oil-price-forecast-3306219
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Old 01-04-2018, 07:24 AM   #4
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Yeah, right? Exactly what is going to drive prices to $100?
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Old 01-04-2018, 07:33 AM   #5
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Geopolitics heating up in Iran.
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Old 01-04-2018, 07:52 AM   #6
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$4+ per gallon gas should dull any tax relief.
Or, to put a more positive spin on it...tax relief will ease the pain of rising gas prices.
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Old 01-04-2018, 07:57 AM   #7
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It also helps keep inflation muted & the fed less active.
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Old 01-04-2018, 07:58 AM   #8
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Summary

U.S. crude oil production is likely to exit 2017 at roughly 10 million barrels per day, catching up with Saudi Arabia.

By the end of 2018, the U.S. is likely to bypass the #1 producer Russia (just under 11 million barrels per day currently).

Since 2014, the U.S. oil industry has made tremendous progress in productivity and is positioned to set new records in growth pace.

However, significant and quick investments in equipment and infrastructure will be required.

https://seekingalpha.com/article/413...p-oil-producer
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Old 01-04-2018, 08:06 AM   #9
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Remember Peak Oil? Didn't we hit that about 10 years ago and it's been all uphill for prices since then?
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Old 01-04-2018, 08:23 AM   #10
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Originally Posted by capjak View Post
Summary

U.S. crude oil production is likely to exit 2017 at roughly 10 million barrels per day, catching up with Saudi Arabia.

By the end of 2018, the U.S. is likely to bypass the #1 producer Russia (just under 11 million barrels per day currently).

Since 2014, the U.S. oil industry has made tremendous progress in productivity and is positioned to set new records in growth pace.

However, significant and quick investments in equipment and infrastructure will be required.

https://seekingalpha.com/article/413...p-oil-producer
Opening up ANWR helps us with this.
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Old 01-04-2018, 08:27 AM   #11
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I've bookmarked this thread and will revisit it this summer to see if your crystal ball is accurate.
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Old 01-04-2018, 08:43 AM   #12
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Remember Peak Oil? Didn't we hit that about 10 years ago and it's been all uphill for prices since then?
All the Artic ice was supposed to be gone by 2015, too...
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Old 01-04-2018, 08:59 AM   #13
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What I have read researched is 2018 will see an increase in oil but will be in 50 to 60 range. We have more oil in reserves then anytime before. Sadia has if not mistaken has reached peak oil.

I can see a increase in price due to refinery shut downs and natural issues that will effect the price. Big oil in IMO carries a big stick so I'm always leery of their power and what they can do by their actions.
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Old 01-04-2018, 01:04 PM   #14
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New investments in oil is mostly put on hold. And the amount that is stock piled is going down. The shale oil has been pumping but the lowest hanging fruit is getting exhausted there too.

So at some point it will become sellers market again. And the price will rice. And producers will staert thinking about new investmemts and new rigs but this is not done overnight. So the price will continue to rise.

If we get there in 2018 I do not know ofcourse. But I think we are heading in that direction.
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Old 01-04-2018, 01:50 PM   #15
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The only reason oil is at 60.00 right now is because of the cold . Don't see oil doing anything special ........... Fake News
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Old 01-04-2018, 02:48 PM   #16
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Glad I unloaded my VDE and XOM holdings that were dragging me down years ago. Nothing but an anchor in that sector.
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Old 01-04-2018, 03:11 PM   #17
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New investments in oil is mostly put on hold. And the amount that is stock piled is going down. The shale oil has been pumping but the lowest hanging fruit is getting exhausted there too.

So at some point it will become sellers market again. And the price will rice. And producers will staert thinking about new investmemts and new rigs but this is not done overnight. So the price will continue to rise.

If we get there in 2018 I do not know ofcourse. But I think we are heading in that direction.
Not to disagree with you but I just want to make a point on your comments.

Scale oil country is strong and alive not even close to reaching a max point yet. Each month even with low oil prices and way less drilling the Bakken is breaking production records. almost each month. There is a lot of oil in oil country in Dakota in different zones they haven't even touched. They are there just waiting for prices and demand to go up and the greed will hit a high. There are zoning and fields have to be drilled out to establish a new zone there are a lot of laws they have to follow.

They aren't going to drill new zones if the prices aren't higher. So the oil companies may be saying it's over but that is a game big oil plays.
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Old 01-04-2018, 03:40 PM   #18
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I agree that worldwide demand has increased, and supply has been somewhat constrained by OPEC. However there is so much production available at the margins, I think it's difficult for oil prices to rise much past 65 to $70 per barrel.
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Old 01-04-2018, 03:41 PM   #19
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Absent a major geopolitical event that is.
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Old 01-04-2018, 04:02 PM   #20
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Absent a major geopolitical event that is.
Exactly! Big oil if you want to believe it or not can create advantages for themselves. US oil was their own worst enemy with what happened to oil prices. They blamed OPEC but in reality they drilled like no tomorrow trying to sell every drop they could get out of the ground. Then OPEC seen what was happening and then you seen what happened to prices.

Oil is very powerful and these companies know it and use it.
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