freebird5825
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I think it will be temporary. I consider oil stocks "on sale" and have been buying on this massive drop.
Ditto....
I think it will be temporary. I consider oil stocks "on sale" and have been buying on this massive drop.
I'd have to disagree. Demand is dropping while supplies are rising, especially in the US. Prices are falling. Buyers are expecting cheaper prices in the future, so they are delaying purchases, dropping futures even more. Sudden changes are just a reflection of changes in future expectations of both demand and supply. In the last months the world econony started shrinking while opec stated they will purposely over produce. A price shock is EXACTLY what should happen.
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It sounds like the "shale revolution" was more about money than national security, energy independence, etc.
Thanks for confirming my guess on this....(snip)...
Remember, oil companies cutting back on drilling and production results in keeping the hydrocarbons in the formations. Once prices are high enough to sustain lifting costs and profits, they will be back at it.
The oil prices are 5-year lows. Did the market and the economy suffer when the prices were at these levels back then?
Is it possible that King Fahd agreed to boost oil production in the 1980s to destabilize the Soviet Union, which was fighting mujahadeen in Afghanistan and under increasing Cold War pressure from the United States? Perhaps the Saudis used their oil weapon at the behest of the US back then ... and, perhaps, now?
Vladimir Putin seems to think that's the case. He's seen this movie before too, through Russian eyes.
Makes me wonder if Russia may find some Russian citizens in Saudi Arabia who are getting oppressed and need Russian intervention.
Thanks for confirming my guess on this.
So I guess we can say that the US frackers are putting a ceiling on how high oil might go in the future? When it goes incrementally higher, more supply will become available?
"Once prices are high enough to sustain lifting costs and profits, they will be back at it." In a New York minute.
Take a look at the chart I posted above. So far the predictions are wrong. I don't invest on predictions but they are entertaining.I have S&P 500 index in one of our Roths. I am reading predictions that the S&P will be hard hit by the drop in oil and recommendations to sell. If I did that what would be a better index fund? (other investments are Wellesley and Wellington)
Anyone buying large vehicles?
Supposedly there have been spikes in SUV sales.
Shades of the tech bust thinking circa 2001?I'll be surprised if we see these price levels for an extended period in 2015. I am really thinking of adding more oil/gas/equipment to my port, as I don't see oil going much lower.
Thanks for confirming my guess on this.
So I guess we can say that the US frackers are putting a ceiling on how high oil might go in the future? When it goes incrementally higher, more supply will become available?