Oil price dives after producers fail to agree output cap/Brent crude fell 7%

http://www.bbc.com/news/business-36070255

bad news for all state - gas stations, ...look like they still have a hope that they can get it up to 100))) price with allows them exist in 2016 ... og boy...comments ?

 

Granny ain't feelin' sorry fer `em...

IMF expects $500B revenue loss for Mideast oil exporters
Monday 25th April, 2016 - Oil exporting countries in the Middle East lost a staggering $390 billion in revenue due to lower oil prices last year, and should brace for even deeper losses of around $500 billion this year, the International Monetary Fund said Monday.

 

find my post about KSA crow prince, he tries to save his state, Muscovites do nothing ...

 

Bad news Russia....as oil is one of the few exports they have. (I'm almost crying for them, I really am)....

 

oil made no one happy, never ...even Norway, i am not talking about state- gas - stations like Muscovy, KSA, Algeria, etc. they are very close to collapse ...

 

Sounds like the demand side is back...

As oil plows through $45 a barrel, U.S. producers rush to lock in prices
Mon May 2, 2016 - U.S. oil producers pounced on this month's 20 percent rally in crude futures to the highest level since November, locking in better prices for their oil by selling future output and securing an additional lifeline for the years-long downturn.

 

Once again you farted in a puddle.



But of course there are problems. Let me remind you, the US oil industry continues to steadily deteriorate. Over the last week the number of drilling declined by another 11 pieces, and now there are only about 21% of the maximum, is another historic low.



Simply put, the American oil companies "downloads residues" oil from already developed fields and not invested in new drilling. This is somewhat similar to the sale of all goods from the store closing - sooner or later run out of goods, shelves completely desolate, and the doors to the store will be completely closed.

Actually, bankruptcy and reducing the already going. That's straight from the tin - only in the last few weeks several major US oil companies have announced reduction of 24 thousand jobs. http://fuelfix.com/blog/2016/04/29/chevron-increases-planned-job-cuts-to-8000/ (By the way, about 120 thousand jobs in the sector have already been eliminated)

And now, sweet.

Russian started trading oil for rubles on the St. Petersburg stock exchange. The process goes successfully. And international traders are active on the Russian market in St. Petersburg.

 

Calm down. In Russia, everything is good .... you need to cry about the US oil industry.

http://www.politicalforum.com/lates...-cap-brent-crude-fell-7-a.html#post1066139031

 

i posted already statistic, this price of oil is way batter for USA , and it does not help to Muscovy

 

i heard in somewhere already )))
[video=youtube;wIiPAUkDDNk]https://www.youtube.com/watch?v=wIiPAUkDDNk[/video]

 

Can Oil Continue To Rally? An Interview with the IEA’s Neil Atkinson
http://oilprice.com/Interviews/Can-...An-Interview-with-the-IEAs-Neil-Atkinson.html
Neil Atkinson: It can be argued that the sell-off to below $30/bbl was an over-reaction to the downside. The bounce back to $45/bbl is partly explained by the strike in Kuwait, production interruptions in Nigeria, UAE and Iraq, and the growing perception that US shale oil production is declining. The bounce back is also due to the fact that investors are more forward looking than they used to be and the possibility of the market returning to balance around the turn of the year is a supportive factor.
NA: The IEA has warned consistently that inadequate investment today could sow the seeds of a price shock tomorrow if there is a major change to the expected supply/demand balance. Towards 2020 there is the possibility that, if annual global oil demand growth were to exceed the 1.2 mb/d level forecast by the IEA and there was a geo-political event leading to a major supply shortfall, there could be insufficient spare production capacity to fill the gap. The resultant price spike would be detrimental for the world economy.
OP: Related to the previous question, can you imagine a scenario when oil prices surge back above $100 per barrel? What would that look like and how likely would you say that is to happen?
NA: Almost certainly it would take an extraordinary supply interruption to see oil prices surge – your word – back to $100/bbl. Today’s record oil stocks will act for the next few years as a major dampening effect on oil prices. Also, any sustained increase in oil prices will encourage production from relatively high cost areas. Again this would dampen any sharp increase in oil prices. But past experience teaches us never to say never to an oil price scenario.


***********
Everything still seems to point down? Can they keep the price push going till the next catastrophe to cause a spike?! If they can get it drop again; and with the continuous drop in rig count in the US; the Saudis might just accomplish their goal.

 

It's good that you're watching Russian TV ....

On the topic of the post - it does not take long.

 

TV? you dont have it, do you mean a propaganda urinal ?

 

Hey....you happy with the Russian collapse...I'm happy with the Russian collapse...everyone's happy with the Russian collapse!

 

I understand what you're watching and Western TV .... Oh .... more precisely - as you put it "propaganda urinals".

 

Well, if Russia has it's way it can reprice oil in rubles...which would make Russian oil too expensive across borders. Go on Russia, open up your currency to market pricing. See what happens.

 

[video=youtube;yYRJoc5ttxA]https://www.youtube.com/watch?v=yYRJoc5ttxA[/video]

 

its true, finally Muscovites will get a chance to a normal life ...

 

Only if the evil Putin gang is removed will that happen....Muscovites need to arrest, try and then hang their corrupt leader and his henchmen. Perhaps then will the people breath a sigh of relief again.

 

i disagree, even Kasparov will be locked by Siberian riches and becomes a new Putin/Kobe/Ivan the terrible in 2 years , Anne Applebaum describes it very well

[video=youtube;Wt_6mPxgUNI]https://www.youtube.com/watch?v=Wt_6mPxgUNI[/video]

ps of cos i agree with you that Putin is a war - criminal

 

gas prices are rising in my area. Back to around $2/g for 87 $2.25 for 89

 

it will not help to ulus juchi,..

 

Sorry but I have no idea what that means

 

Muscovy...

 

Muskrat oil? Still unclear.