Economy 52,842 Posted December 24, 2018 Share Posted December 24, 2018 https://www.google.ca/amp/s/www.cnbc.com/amp/2018/12/24/oil-markets-global-crude-supply-in-focus.html As oversupply returns in the oil market as shale production keeps exploding WTI has dropped below $45/barrel once again while Brent is down to $56/barrel Shale could take US production to as high as 14 Million barrels a day by 2020 and the fear is that OPEC cannot control supply enough to keep market balanced OPEC has agreed to cut production by 1.2 Million barrels a day and Canada enforced a 375,000 barrel a day cut as well due to pipeline constraints but the combined cuts from the market may be insufficient Link to post Share on other sites More sharing options...
Economy 52,842 Posted December 24, 2018 Author Share Posted December 24, 2018 @Woolfsmck tell your country to turn down the spiggit taps down a little bit Link to post Share on other sites More sharing options...
Lord Temptation 11,209 Posted December 24, 2018 Share Posted December 24, 2018 There is more to this than meets the eye. I think the US is trying to hurt Saudi Arabia. Especially after the assassination of journalist Khashoggi. It can’t do it “officially” because they are allies so they can only do it economically. Link to post Share on other sites More sharing options...
Economy 52,842 Posted December 24, 2018 Author Share Posted December 24, 2018 3 hours ago, Lord Temptation said: There is more to this than meets the eye. I think the US is trying to hurt Saudi Arabia. Especially after the assassination of journalist Khashoggi. It can’t do it “officially” because they are allies so they can only do it economically. But the US industry is privatized with dozens of energy companies who are concerned with their bottom line The US Government can't just control production for political reasons unlike OPEC which has most production controlled by State Owned companies Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted December 24, 2018 Share Posted December 24, 2018 7 hours ago, Economy said: @Woolfsmck tell your country to turn down the spiggit taps down a little bit Heh... GGD peeps don't listen to me. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,842 Posted December 24, 2018 Author Share Posted December 24, 2018 15 minutes ago, Woolfsmck said: Heh... GGD peeps don't listen to me. Well I tried Environmentalists blocking every pipeline in Canada + US Shale always overwhelming the Oil Market with supply = my energy stocks never recovering and me not buying my house anytime soon I need US Shale to stop and environmentalist extremists to stop so I can get my white picket fence 8-) Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted December 25, 2018 Share Posted December 25, 2018 5 hours ago, Economy said: Well I tried Environmentalists blocking every pipeline in Canada + US Shale always overwhelming the Oil Market with supply = my energy stocks never recovering and me not buying my house anytime soon I need US Shale to stop and environmentalist extremists to stop so I can get my white picket fence 8-) Yeah...my personal economics are kind jacked up right now too. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,842 Posted December 25, 2018 Author Share Posted December 25, 2018 11 hours ago, Woolfsmck said: Yeah...my personal economics are kind jacked up right now too. I know the feeling Link to post Share on other sites More sharing options...
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