5.2 quake recorded near Pecos…anyone out that way feel it?
Houston..we have a problem....
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Last: 3 days ago by one MEEN Ag
European diesel prices have been crushed.
I was at the Odessa Marriott for a couple nights for work and felt it a little after 4am. Was a weird feeling being half asleep and having your bed strangely wobbling.Dreigh said:
5.2 quake recorded near Pecos…anyone out that way feel it?
Well at least you weren't drunk.
techno-ag said:
Well at least you weren't drunk.
Where did he state that??
THAT night I was sober. The next night I did have a few drinks with some guys at the lobby bar. Can report though that there was no earthquake on night 2.Boat Shoes said:techno-ag said:
Well at least you weren't drunk.
Where did he state that??
Which one of you guys dumped a bunch of oil in the GOM? Don't be hurting my redfish!
Dilution, solution, pollution something or other!! Looks like the Feds are coming after one of ya
Dilution, solution, pollution something or other!! Looks like the Feds are coming after one of ya
Why the drop today, 4% seems random. Manipulation? Reading OPEC meeting postponed but that doesn't seem that bad…
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Premium said:
Why the drop today, 4% seems random. Manipulation? Reading OPEC meeting postponed but that doesn't seem that bad…
African producers arguing about production Output
Ahh yes. Nothing says Thanksgiving like an oil crash.
fixer said:
Ahh yes. Nothing says Thanksgiving like an oil crash.
"Here". Never forget Thanksgiving day 2014
Would be interested to see how the ME tries to reign in africa. Nobody at that table has a navy, nobody has the ability to project force. They don't borrow money from one another, nor able to really inflict economic damage to one another. Everyone has every incentive to swear to cuts, lie and hide production.
In 2014, it was the saudi's versus the US shale investors. In 2023 there doesn't seem to be one defined entity upsetting the balance of the market. For every barrel shale investors say they aren't drilling to replace there seems to be three coming online from offshore south american plays, non OPEC ME members, sanctioned countries that aren't being enforced, and eastern european countries playing whack-a-middle-man.
In 2014, it was the saudi's versus the US shale investors. In 2023 there doesn't seem to be one defined entity upsetting the balance of the market. For every barrel shale investors say they aren't drilling to replace there seems to be three coming online from offshore south american plays, non OPEC ME members, sanctioned countries that aren't being enforced, and eastern european countries playing whack-a-middle-man.
Saudi is going to threaten to flood the market to get them all
In line.
In line.
Bribes work pretty well in Africa.
Oxy about to overpay again?
WSJ reporting $OXY for CrownRock at “well above $10B”. I’ve heard $13B is the number. At that price, whoever is the buyer, we better see a serious deep dive on the value/assumptions given $8-$10B was the going-in expectation. A good time to be a Permian seller. #EFT #OOTT
— Dan Pickering (@pickeringenergy) November 30, 2023
Any whispers leaking out of the OPEC meeting going on right now?
Keep it strong....Dan Scott said:
OPEC+ agrees preliminary oil cut deal of over 1 million bpd, sources say | Reuters
The 2023 Saudi is like the complete opposite of 2014 Saudi.
It's because they learned higher price=money vs. market share=less moneyfixer said:
The 2023 Saudi is like the complete opposite of 2014 Saudi.
Think they're taking a view of inventory exhaustion/degradation.
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It's a tale as old as time....nu awlins ag said:It's because they learned higher price=money vs. market share=less moneyfixer said:
The 2023 Saudi is like the complete opposite of 2014 Saudi.
Angola just publicly stated they will defy OPEC orders to cut. Angola sees that for Saudi's threat to work Saudi has to hurt themselves 10x more than they could hurt Angola. This assume Saudi thinks the only option is economic pain through oil flooding.Dan Scott said:
Saudi is going to threaten to flood the market to get them all
In line.
So will be interesting to see how this plays this out.
Boy, that decision came back to bite them big time.fixer said:
The 2023 Saudi is like the complete opposite of 2014 Saudi.
Trump will fix it.
techno-ag said:Boy, that decision came back to bite them big time.fixer said:
The 2023 Saudi is like the complete opposite of 2014 Saudi.
After today's rout yeah I'd agree.
Crude oil chart looks awful. Looks like we retest the mid $60s again.
A lot of spec out of the market and outright short, however, shale boys just cant seem to help themselves. Further consolidation needed.
Good chart in the FT this morning, seems like it may be the consolidators driving production growth:
China...China...without China's need for oil, 9% drop in November imports from a year earlier, plays a pretty significant role. Volatility and speculation China are also at play, not just the "shale boys". China's biggest state owned firms and banks have been down graded yet again.
China, recession, increased efficiencies/productivity....
I wouldnt overtly call what shale is doing as efficiency, drilling longer laterals...
Efficiencies of course, but the poster was basically blaming the "shale boys" for the price drop. China moves the needle...and of course the speculators.htxag09 said:
China, recession, increased efficiencies/productivity....
Do you know the time it actually takes to drill a 3 mile lateral or any lateral? It's efficiency trust me.Cyp0111 said:
I wouldnt overtly call what shale is doing as efficiency, drilling longer laterals...
Yeah, but you have to understand that poster takes a dig at "shale boys" every chance he can. Not really worth arguing.
Yeah, Cyp been very negative on industry for a while.