Go ahead, /biz/realis, make your oil price prediction for February.
£9.46 per yard.
>>1073445
Thanks to a poster at ZH for these images.
>>1073445
Oil is headed to $10 per barrel. Make sure you don't buy before then.
>mfw I actually work for Royal Dutch Shell.
Saudi's have no real intention of lowering production, Iran is about to unleash a huge amount of reservee. Oil will hit $10/$15 a barrel and then never get that low again until it runs out.
>>1073445
OPEC, USA, and other producers of oil have no incentive to stop producing. It is a mexican stand off,
>IFF you limit production you lose the
>volume game
>IFF you do not limit production you have to
>cut costs
>Cut Costs:
Murphy Oil (MUR)
Exxon Mobil (XOM)
Chevron (CVX)
>MY PREDICTION: $10 a barrel
>>1073445
BTW Murphy Oil is an absolute steal today.
$18.40 a share
7.40% Dividend Yield
+They are actively cutting costs
Anyone thinking of buying $DRIP?
>>1073445
BTW Currently $30.91 per barrel
>Technical Pattern Says: FREE FALL
>>1073453
Is this the stock your company is referencing?
We either find a way around oil consumption or find a way to manufacture it or a substitute.
It's never going back to where it was :(
>>1073526
Demand is massively below supply.
> - | Producer+ A | Producer- B |
>Producers+ B-Z | A | B |
>Producers- B-Z | C | D |
A (Volume+, Volume+) = Volume +++, $10 barrel
B (Volume+, Volume-) = Volume+, $25 barrel
C (Volume-, Volume+) = Volume-, $30 barrel (status quota)
D (Volume-, Volume-) = Volume - - -, $50?
>>1073531
You try convincing an oil producing company to cut production. It's essentially a tragedy of the commons, empahsis on essentially.
>>1073531
>>1073570
Ive heard the surplus is anywhere from 700k to 2mil barrels a day. Thats with about 90mil barrels used a day. Thats not a huge amount.
Most oil companies didn't start losing money until recently. And we are already seeing the production cuts through reduced capex.
Oil will average $27 a barrel in Feb. It will bounce between $25 and $33.
>>1073452
kek'd.
Somewhere in a cave in the Kanjar Province the son of a wealthy oil magnate plots his demise.
>>1073517
>Also, this is insider material information and therefore illegal. It frankly has no place on this board.
You must have been an Enron lawyer.
So should we Sell SSN and USEG?
$39 on the 27th
Low of 24-25, will be all over the place tho.
>>1073517
>implying autistists on a cambodian meme sharing network care about breaking the law.
>>1073517
>"The FBI conducted a large scale raid today, indicting and arresting over 20 members of an online forum known as 4chan, for alleged insider trading"
>"One alleged member of the forum was quoted saying 'Smh desu senpai' as he was loaded into a police car"
>>1073515
That's just crude oil senpai
Look for LON:RDSB
Or if you're an Ameriblubber, something else.
>>1074129
>You must have been an Enron lawyer.
What makes you say that?
is it time to shift 401k from diversified into oil stuffs yet for the climb back up?
>>1075316
Big oil probably has a bunch of year long contracts they still need to fill some of at the old price so they probably aren't doing too badly just yet. And they don't seem that cheap at the moment to me anyway.
Oil closes at 23.30/bbl on Feb 29th.