where do you think oil is going?

>>1621912
oil is dinosaurs

Saudis are going to do everything they can to get the price to $50 for their IPO in 2017

beyond that they don't care and we're stuck between 40-50

>>1621941
yeah in short terms what do you think? we hitted a resistance at 45 i think, we will go back to 42 or maybe again to 49?

>>1621912
It will most likely go down. North Dakota has just opened up a ton of oil wells they are going to produce for several years before drying up. Venezuela in not producing much right now but soon will because there economy in the dump. And when they get there shit together they will sell at any price. War torn Iraq a Syria will get there operation start again in the next two to three years as the war winds down and they will sall at any price as well. Iran just it's sanctions lefted. They are already pushing prices down.

Unless more war breaks out some other shit happens. Oil prices will fall not a ton.
There is even talk of oil found in the East China Sea. That should supply Asia with some oil for a while too.

>>1622387
How is oil made? Once we use it all is the world fucked?

>>1622525
There is still more anon

>>1621912
It depends on if Trump gets his way with his 100 day plan, specifically where he wants to make all US reserves fair game to use

>>1622525
We won't run out for another 250-350 years imo.

>>1622387
They just found a ton of oil in West TX. Like 20 billion barrels. How would that affect the market?

>>1622553
who cares.. we will not be around anyway

>>1621912
to the south pole, theres no hurricane around.

>>1623912
Yea fuck global warming. Right now all I have to worry about is cheaper heating bills in the winter. The future generations can just move to mars or some shit.

>>1621912
Was gonna start this thread so bump.

Trump is unlocking american oil so it should go down right?

Texas bout to boom so it should go down right?

Trump axing a lot of soudie oil so the price should go up right?

All of my family is in oil as are most friends. So fucking deoressing this year. A boom is like christmas. Everyone is happy and doesnt wanna eat a 12 guage for once.

>>1621941
At least we can live at 50. So tired of seing everyone sell all their shit to eat...

Sub 40 oil. Well. I guess ill just die then.

>>1623877
It means if my planed wells on kansas dont pay off i get to wage cuck for texas oil sheik

>>1623983
Kek. By then maybe we can just rocket booster it to here. Cover in dirt and water and shit. Then move booster rockets to earth a toss it into the sun or just away somewhere. While we are at it if earth has enough resorces i wanna replace our shitty moon with saturn.

>>1622525
we will reach a point where it doesn't make any economical sense to extract oil and move on to something else, but still that's a hundred years away

it's not so much even for energy as just making plastics and batteries right now

>>1621912
Plebs. The price of oil has nothing to do with supply. It rises based on speculation.

Trump will cause inflation, and Richies will pig out on oil shares to hide their ill gotten gains.

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oil prices slowly slump and bump short term, while stockpilers and investors continue buying low .
then one day metrically and unexpectedly rise to about 70. then keeps rising over months. and stay risen, and achieve a new era of peak oil most likely . .
probably to 100- 500 a dollar barrels of oil.
profit takers profit take, new invest ments are made.
then one day it drops again.and stays dropped, stockpilers stock pile etc.
feast and famine.


oil pricing and production is a delicate and fragile pendulum, just like other markets.


is this ur first time trading commodities?