WTF is Happening?

>>989747
wat is dis op

>>989761
Oil

>>989761
Production keeps up. Supply keeps building. These are decade lows. I'm long a few spots.

how long do yall think this is going to last? i've been trying to think of ways to take advantage of this and make money. pizza delivery and driving with uber being the easiest most obvious answers for low skilled peeps

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>>989747
Buy fucking Bitcoin now biz for fucks sake. I'm not fucking joking.

>>989761
OPEC announced they were not cutting back production until every single American O&G company was destroyed. Iran is coming online. Draesh are practically giving oil away for free.

So much for "muh peak oil" people were crying about.

Tfw $1.60s the past 4 months

>>989771
I've been buying statoil after every oil spook (january, march, august) and selling a bit later after oil recovers (when it reaches $50), should I do it again or was I taking a huge risk and really it will likely stay below $40 for months? I remember forecasts were predicting it would reach $50 or $60 by the end of the year.

>>989747

The Saudis are flooding the market with cheap oil to destabilize Russia and Irans economy

they say it not true but they did the same thing to Saddam back in the 80's

they only have oil reserves to keep this up for 5-6 years 7 tops

>>989788
I dunno man. I think they've seen the end of it approach (why, I don't know) and they're selling it all as quickly as possible. There's something fishy about them being ok with selling it so so cheap.

And it hasn't really hurt American production, right? Just their exploration?

>>989890
It's outright fucked american production, because unlike most German companies, the USA fucking loves debt.

The companies owe money on their drills, on the land they drill, on their factories, on their trucks. When the cashflow was cut to half, anyone who wasn't making a 100%+ profit before is suddenly defaulting and losing assets.

>>989775
What's sad is I really don't think you're joking.

>>989890
Under 40$/barrel hurts shale oil producers a lot. Saudis/OPEC are hell-bent on taking out some of the competition, but I doubt that they really care which one/ones are going to fall: US, Russia, Iran, Venezuela, they don't fucking care. They can keep going as low as 5$/barrel and others won't stand a chance against that. Of course even OPEC doesn't wish for that kind of price for oil, but they won't cut production first - someone else has to do it.

>>989747
Gas is $1.60 here now.

>>989747
so in other words you use 8000 gallons of gas a month?

>>989890

>I think they've seen the end of it approach

That would make no sense, if they though oil production was going to drop, they would hord to get top dollar.

It's more like they see the end of their monopoly on cheap oil and are doubling down to try to destroy the economy from being profitable.

There is also a very good chance they have been underreporting how much oil they actually have.

>>989936

Gulf states have pretty much destroyed OPEC at this point.

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>>989747

>>989747

Its going to 20, maybe 15.

>>989936
OPEC is dead. The Camel fuckers have destroyed their alliance of oil shekelmasters. The future of oil markets is in India/China. Both these countries get their oil from Iran and Russia. But they're mainly buying Natural Gas. The Saudis are fighting a losing battle. This is going to hurt them more than they think. Also the US doesn't give a shit because if the price bounces back the shale producers start drilling again. Right now they're extracting oil, not drilling. Saudis have lost command of the market. They're taking out loans to meet daily government needs. When they're no longer relevant the west will put sanctions on the country because of "new" intelligence saying the country is funding derka derka groups around the world.

>>989775

Guyz buy the bitcoins, fuck the shorts.

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>>989788
>to destabilize Russia and Irans economy

wrong. economy and industry has slowed down there is no need for oil. also isis is selling oil cheap everybody need to lower prices to compete. opec hast lost all their powers to control anything.

also oil reserves are full everywhere for severals years, it doesnt matter if you cut the production.

oil is dead.

>>989777
Jesus how retarded, do they think they'll win?

OPEC countries basically rely on all of their revenue from oil. they'll just keep pushing and pushing the prices down until they can't meet their revenue quotas and this have to cut back on spending. countries like Saudi Arabia, Qatar and the UAE can't afford for this to happen because of how much debt they've got themselves in already. they're like a bunch of heroin addicts with a credit card

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http://www.breitbart.com/national-security/2015/10/22/imf-predicts-saudi-arabia-bankrupt-2020/

>>990383
That means war in 2019. COD 4 is REAL. The west will enact vengeance on the camel fuckers because of their financing of terrorism. Once Saudi Arabia goes broke all the derka derka groups will fade into the sand.

>>990383
: ))))))))

>>989747
wait gas is 1.99 $ us ?

were i am its 1.05 canadian $

that about 0.77 $ us

>>990782

I'm in Ohio. It's $1.83 where I live and I've heard other places are even lower.

$1.99 might be the average nationwide, but I heard it was above $2.00 slightly yesterday. I dunno for sure.

But yeah, if you are living on the border, it would probably be cheaper to go over here and get gas.

>>990810
In Ohio also. 1.65 today.

>>990782

You realize we use $/galllon, not litre? You're paying about $2.93 USD/gallon

>>990383
>http://www.breitbart.com/national-security/2015/10/22/imf-predicts-saudi-arabia-bankrupt-2020/

The suadis will up the oil price before that shit happens. All of the this years oil downfall has been caused by OPEC-s antics. The point of their antics is to fuck over US oil production and fuck with russians for being dicks to them (some Middle Eastern power politics shit I dunno).

tl;dr Saudis politrick oil down with OPEC to keep their market share and fuck with the russians.

>>990996
Russia ain't the west. Putin doesn't care about his people. So he'll go along with it. It will hurt the Saudis more than the Russians. The Russians are holding the Turks and Europeans as hostages until they let go of the sanctions. Russia supplies them with gas. In the meantime they're being cozy with the Chinese.

>>990484
>That means war in 2019
do they even have an army that can force-project? niggers haven't done shit since gulf war 1. egypt could probably steal their shit if no one else stopped them

>>992257

They can in their immediate neighborhood, which is all they really need to do. They actually have large amounts of sophisticated equipment, but they're army is pretty shitty in terms of quality. The Houthis are consistently BTFOing them in northern Yemen

> egypt could probably steal their shit if no one else stopped them

They're on good terms with the Egyptians, who possess large amounts of pretty decent equipment in their own right. Also significantly more competent.

>>990323

My fiancee works for GE Oil and Gas as an engineer. They keep culling every few months or so, completely abandoning all major research projects in a company they only recently acquired. It's working so far, or they're making a hostile acquisition.

Probably a bit of both. GE is top heavy as fuck. Wouldn't touch them with the tip of my shit.

>>992276

Well you're forgetting that they are Arabs. In other words, craven fuckwits.

>>992328

It's not cowardice that's the problem so much as lack of loyalty/purpose when it comes to state militaries. Arabs do well when they have an ideology or tribe to get behind. You can say a lot of things about Jabhat al Nusra and ISIS, but cowardice ain't one of 'em.
.

>>992334

Isn't ISIS mostly foreigners by now though?

>>992344

The majority of it's members (and most importantly, leadership) are native Syrian and Iraqi Sunnis, and the bulk of the foreign fighters are Arabs from other Middle Eastern countries.

The Saudis are said to be the most enthusiastic suicide bombers (ISIS has waiting lists) while the Chechens tend to be shock troops and operators (because Chechens) . Most of the Western jihadists without skills (media, chemistry, engineering, technology, etc.) are used as cannon fodder.

>>992324
I've seen a lot of shit talk about GE, sold it earlier this morning at a meager profit and I'm looking to dip the funds into SWN or CVX, who seem more likely to survive this. Any recommendation?

>>992367

>Most of the Western jihadists without skills (media, chemistry, engineering, technology, etc.) are used as cannon fodder.

I'm surprised Western governments don't just let them go to be honest. It's a great way to purge Muslim communities of radicals if you ask me. Pay for Anjem Choudhary to go too.

American natural gas goes whooo we iz numer one. Suck it sudiarabiasssss
Saudia goes fuk u merica i lower my prices and make more
merica NG say nooooo !!!pls
Saudia like 2 l8t bitchez
many natural gas companies are in ruin.

>>989890
fusion is coming and oil will be as dead as the dinosaur it came from.

http://fortune.com/2015/09/28/jeff-bezos-peter-thiel-fusion/

>>990052
>seen the end of it approach

the end of the world's dependence on oil for energy, not end of supply.

oil will not be used for energy in the near future. it will be used mainly for lubricants and plastics...

http://www.techworm.net/2015/07/boeing-patents-laser-triggered-nuclear-fusion-powered-jet-engine.html

>>992324
The fuck does top heavy even mean?

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>>990200
Jesus christ it's like a dream come true

>>990383
doesn't the report also state that saudis are "culturally uninclined to work"?

>>989747
> meanwhile oil industry suffers in America.>>989747

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>>990200
>you will see that filthy wahabi kingdom crumble within your lifetime

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was 15k up a few days ago, now 20k down.

END OF THE WORLD.

ITS OVER.

Climate Change. That's all.

>let's stop using these energies, and use those energies instead

> not a single person mentions how Canada's NDP government in Alberta has severely fucked the Oil industry in Canada

>>989890

US exploration is zeroed at this point. Smaller oil producers in the US have already gone through multiple waves of layoffs and are in starvation mode, just producing from existing wells to try and generate enough cash to hold off debt. The less cautious ones are gonna tank and be gone entirely in a few years, the rest will be small potatoes at least until 2020 or so. Middle Eastern production numbers are only going to keep ticking upwards, and that's lethal to high oil prices.

And we're collectively fucked if someone big goes into recession, like the EU. Even lower demand = $30/barrel oil.

I've got family that field manages in the Bakken formation. Drilling new wells basically ended early this summer for everyone up there.

>>996503
They may cause prices to rise when the output drop is realized from all their insane polices. Nothing their doing should make oil cheaper.

>>990484
>because of their financing of terrorism
nobody ever goes to war for principles or honor or doing the good thing. As long as power/money aren't at stake nobody will go to fucking war.

>>996577
Saudis are killing oil prices after the american economy became so heavily invested in shale oil. We're killing them for money, the "funding terrorism" is the CNN cover.

Literally Iraq War 3.

>>996503
because they didnt do shit senpai

>>989747
I, too, wish to know what is occurring, OP.