Oil bust inevitable

[Davidc]

I also sent the same question to Mr Willie. His response:

cuz oil contracts face delivery

 

[Davidc]

 

[jmanz]

US Rig counts went down by a couple today. Prices up a bit because of it. It will be interesting to see if this becomes a weekly trend for awhile.

 

[nodle]

US Rig counts went down by a couple today. Prices up a bit because of it. It will be interesting to see if this becomes a weekly trend for awhile.

Maybe but they still are set for their worst first-half performance since 1998.

 

[jmanz]

Maybe but they still are set for their worst first-half performance since 1998.

Well that is why the rig count went down I'm guessing.

 

[nodle]

Electricity investment overtakes oil and gas for the first time ever, IEA says

 

[Davidc]

Oil heading to 43? 

 

[nodle]

Big Oil wakes up to the threat of rising demand for electric cars

OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday. The London-based researcher expects those cars to reduce oil demand 8 million barrels by 2040, more than the current combined production of Iran and Iraq. 

BNEF expects electric cars to outsell gasoline and diesel models by 2040, reflecting a rapid decline in the cost of lithium-ion battery units that store power for the vehicles. It expects 530 million plug-in cars on the road by 2040, a third of worldwide total number of cars.

 

[jmanz]

Oil heading to 43? 

Closed at $46.54. Up 5% this week.

 

[nodle]

Can't remember if this was posted here or not.

 

[Davidc]

https://www.youtube.com/watch?v=mPXl2ZIWt_c

 

[nodle]

Dat oil drop again today, it never ends.

 

[nodle]

Shell Prepares for 'Lower Forever' Oil Prices

 

[jmanz]

Back up to $50 again.

 

[Davidc]

Futures "market" at work. With Phiz they take the opposite approach. 

 

[nodle]

Back up to $50 again.

And down she goes again.

 

[jmanz]

And down she goes again.

You were pretty quiet last week.

 

[nodle]

You were pretty quiet last week.

I was gonna make a post like, just give it time, but only needed a few days. When they rally all I can think of anymore is "just give it a couple of days".

 

[jmanz]

It will probably be in this range for awhile....until N Korea gets wiped.

 

[nodle]

Down again, who would had guessed?