But China is getting their #oil from the plentiful coffers of shunned Russian oil…Is the UAE suggesting that they are not? That China is sharing the same constrained oil supply as non-communist countries?? Sounds fairly ridiculous… $SPY
I disagree. The Ukraine disastrous effect on Russian supply, #Bidenflation, North American Gov't synch'd anti-oil development policies, Global post Pandemic demand increases, ineffectual energy alternatives and more are huge factors affecting the oil market now in ways that I seriously doubt a chart analysis tool can appreciate. The experienced #oil people I get feedback from have expectations for a very tight oil market into next year.
My gut feel tells me that $100 wti is probably where things will sit once all the pieces fall into place in this complex yet simple puzzle. It's simple because ultimately everyone still needs oil and oil underpins every modern economy on the planet.
The price of #oil has rebounded back to pre-pandemic levels. If #Biden won't allow #Putin to run frackers out of business like Cheeto did, perhaps the price will approach $80 bbl again in a year or so. We get it from your articles that you dislike Biden. He's your opening gripe in every single one. Perhaps a new angle complaining about Putin flooding the market again like he was doing before the plague would be a refreshing angle? Putin is a much bigger problem for frackers then Joe not allowing more fracking on federal lands. If Putin gets his way again, no American oil companies will be fracking anywhere, and the price will be $35 bbl again.
So if oil stays at 10 19 or 25 yes $XOM is in trouble. But no one thinks $WTI will be that low for long. #Oil is trading mid 30s right now and if it trades above 40 in the upcoming weeks. XOM and its dividend will be just fine.
Sadly the market can go much lower, especially since oil collapsed soon after #Trump begged Saudi Arabia to lower oil which is now lower partially to kill US #oil production increases. As a warning to Trump, be careful what you ask for. US oil drillers should be furious besides big oil. Exxon and Shell are fine regardless of where oil goes in the short term. Expect Texas and other oil states to hurt.
Although oil isn't the main factor in the decline, it certainly will affect the US going forward. It is also a proxy for US health going forward. If Americans cut oil production that bodes poorly for consumption of everything else.
One thing that is doing well in the #tradewar so far is #oil. And with Iran in the crosshairs of the US the price of oil will most likely keep rising. It is disingenuous to expect Saudi Arabia to bring oil prices down. The US massive deficit has insured oil will go up in dollar terms and the US itself has been the country upping production to keep oil prices in check for quite some time. The point is, one can't snap their finger and increase supply. The Mid-East has been draining their reserves to keep oil flowing at the current levels. They can't do much else in the short term and maybe not the long term either.
It's positive that #oil is holding up after the summer driving season. There is a lot of risk in betting on its downside right now given the Mideast and continued demand growth from Asia and SE Asia.
How Will Rising Crude Oil Prices Affect Demand And Gasoline?
Good #oil article. It's #Biden and Democarat policies that broke this. Here is #LarryKudlow on it:
https://www.youtube.com/watch?v=qUg2rHHbJT8
WTI Rebounds After Inventory Data, UAE Warns Prices "Nowhere Near" Their Peak
But China is getting their #oil from the plentiful coffers of shunned Russian oil…Is the UAE suggesting that they are not? That China is sharing the same constrained oil supply as non-communist countries?? Sounds fairly ridiculous… $SPY
Natural Gas At A Seasonal Ceiling Already
Like #oil? Don't think so...
Crude Oil Investors Better Take This Potential Turning Point Very Seriously
I disagree. The Ukraine disastrous effect on Russian supply, #Bidenflation, North American Gov't synch'd anti-oil development policies, Global post Pandemic demand increases, ineffectual energy alternatives and more are huge factors affecting the oil market now in ways that I seriously doubt a chart analysis tool can appreciate. The experienced #oil people I get feedback from have expectations for a very tight oil market into next year.
My gut feel tells me that $100 wti is probably where things will sit once all the pieces fall into place in this complex yet simple puzzle. It's simple because ultimately everyone still needs oil and oil underpins every modern economy on the planet.
Oil Loses Ground As Delta Variant Spreads
Energy Report: Unions Have Been Had
The price of #oil has rebounded back to pre-pandemic levels. If #Biden won't allow #Putin to run frackers out of business like Cheeto did, perhaps the price will approach $80 bbl again in a year or so. We get it from your articles that you dislike Biden. He's your opening gripe in every single one. Perhaps a new angle complaining about Putin flooding the market again like he was doing before the plague would be a refreshing angle? Putin is a much bigger problem for frackers then Joe not allowing more fracking on federal lands. If Putin gets his way again, no American oil companies will be fracking anywhere, and the price will be $35 bbl again.
Big Trouble For The Big Three U.S. Oil Companies: Financial Disaster In Its Domestic Oil & Gas Sector
So if oil stays at 10 19 or 25 yes $XOM is in trouble. But no one thinks $WTI will be that low for long. #Oil is trading mid 30s right now and if it trades above 40 in the upcoming weeks. XOM and its dividend will be just fine.
The Oil Futures Crash Is A Warning To Gold Speculators
Not related at all. Demand for #gold is going up while demand for #oil plummets.
WTI Crude Oil Forecast: Likely To Recover In Short-Term
So you are saying that #oil will either go up, or it will go down? Hmm...
Today's Move In WTI Crude Could Mean Trouble For The Canadian Dollar
Thanks @[Moon Kil Woong](user:5208), what kind of time frame do you think we are looking at for a rise in #oil?
OPEC Collapse Likely, Warns Iran's Oil Minister
Sounds more like a lot of talk. I doubt #OPEC will collapse any time soon - if they do, they'll never be able to control the price of #oil again.
How Low Can The Market Go?
Sadly the market can go much lower, especially since oil collapsed soon after #Trump begged Saudi Arabia to lower oil which is now lower partially to kill US #oil production increases. As a warning to Trump, be careful what you ask for. US oil drillers should be furious besides big oil. Exxon and Shell are fine regardless of where oil goes in the short term. Expect Texas and other oil states to hurt.
Although oil isn't the main factor in the decline, it certainly will affect the US going forward. It is also a proxy for US health going forward. If Americans cut oil production that bodes poorly for consumption of everything else.
The Big Surge
What kind of impact, if any, do you think the Saudi's murder of Jamal Khashoggi will have on #oil?
Natural Gas Storage Deficit To 5-Year Average Widens Further
That’s okay - the Wall Street liberals are convinced that #natgas is a waste byproduct from #oil #fracking. There’s no shortage.
Start the Trade War Without Me…
One thing that is doing well in the #tradewar so far is #oil. And with Iran in the crosshairs of the US the price of oil will most likely keep rising. It is disingenuous to expect Saudi Arabia to bring oil prices down. The US massive deficit has insured oil will go up in dollar terms and the US itself has been the country upping production to keep oil prices in check for quite some time. The point is, one can't snap their finger and increase supply. The Mid-East has been draining their reserves to keep oil flowing at the current levels. They can't do much else in the short term and maybe not the long term either.
Crude Oil: Continues To Hold Onto Upside Pressure, Targets 71.63
It's positive that #oil is holding up after the summer driving season. There is a lot of risk in betting on its downside right now given the Mideast and continued demand growth from Asia and SE Asia.