Wait for the day the EIA will finally revise the way the estimate TX production, as they are still using the underlying assumption of small month to month production increases.....even though TX has 281 rigs active, down from 907 in Nov of 2014..........the day this big reveal happens, oil will go up $10 in an hour.....all imo....go check out the difference between EIA estimates and TRRC monthly data yourself! You may come back stunned!
Just wait until the TRRC numbers get confirmed by the EIA later this year, imo
Rig count on floor and yet no drop in production.......the laws of physics have been broken? I beg to differ!
I am waiting for the big reveal when the EIA will tell the shorts that oops, the TX production is actually 500 mbopd less than estimated.....that will be a fun day....oil will gain $10-20 on that day alone....but wait, since the squid rules that agency, this will be done in little baby steps, so the retail shorts cannot see it.....all imho....
BTW, go check the TRRC website and compare those numbers with the EIA estimaes for TX.....don't believe me, well, all numbers are out in the open.....10% drop in rig count per month will cause the next super spike...imo already baked in due to the lack of capes spending two years in a row!!!
Putin will (via his Iranian buddies) destroy the house of Saud, imo....a few missiles that go down on the main Gahwar surface facilities and add a few export terminals in for good measure...Voila, $100 oil in a three day rally....f the flea bags!
It will soon become very clear to even the dumbest of the motherfather #$%$ voters what their Messiah really is......he is not one of us!
The Messiah will call his buddies and apologize, the lift the sanctions and all will be good...., really!
All it will take is for Iran to do the job of SA....to cut SA production in half.......and oil will see a massive rebound.....ah, what a nice thought indeed!
send a hundred missiles towards export terminals and the Gahwar field? All it takes and maybe 4 to 5 million a day of capacity is gone........ah.....now maybe one of these days the evil squid will wake up to a new situation.....that would be fun to watch oil double in a day! Hey, just a dream, nobody is saying that this will happen.....lol
Less steel, less transportation, less high paying jobs, but oh boy, Joe sixpack saving $10 at the pump.....you have no clue about how much the oil and gas industry in this country adds to GDP....the current drop in oil prices is taking 2-3% points out of GDP growth and may put the US into recession....but go ahead and root for low oil prices, like the Messiah is hoping for every day....he has a victory dance every morning when he hears about new layoffs in the oil patch!
why cut off the oil routs that Iran uses themselves....much easier to have an oopsie at the export terminals along the SA coast! I am sure Putin will gladly help out, as a reduction in SA oil sales would help him even more than the Iranians! Reading European newspapers that question what the heck SA is trying to do, destroy their oil revenue first and now commit suicide! Nice!
$50 to produce? Where did you hear that....half the Permian shale is uneconomic at $80......the sweetspots are being drilled and even that is slowly stopping.....have you looked at the rig count lately? The 5 million barrles per day of legacy shale production will decline by 2 million barrels per day over the next twelve months....I seriously doubt that that drop can be made up with 65% less rigs. Physics, they cannot be broken......shale is here to stay, yes, but not at $36
Amazed oil is only at 37.92 right now......once Theran takes out a few export terminals and half the main production facilities at Gehwar, here come a $30 short squeeze......How about a dream of taking 5 mmbopd off the market in a few days.....ah......what a nice thought that is!
Yes, how about Gahwar and the export terminals....maybe five to ten targets total (imho)........nothing a few modern Russian fighters cannot do (check out what fighters they have from the Russians!). They are no longer only a F-4 airforce....Putin has helped to arm them to their teeth....... Amazed oil only at 38........maybe the squid will get theirs in the process, too.....
Maybe Iran and SA will have a little war here next week........I am sure Putin would not be against his Iranian buddies having a little fun with the Saudis! SA is making enemies by the minute, and eventually this will backfire.......just like Erdogan and his sons are prestty soon losing every barrel of $10 they have been buying from ISIS.....things are changing.....imho
What they are exporting is ultralight shale oil from the Eagle Ford that has low yields and is not what US refiners want.....
sure......and the moon is blue!!! At these prices we have right now, nothing beats an ICE car economically....unless you talk about a bicycle!
If you were right, why has the percentage of EV of the total car sales in the US dropped from 4 to 2%.......maybe because some people can do math, unlike you!
And the 9.2 mmbopd number may be inaccurate, based on rig count drop and TX production published by the TRRC (Texas Railroad Commmission). Based on their data, TX production is 500 mbopd less than the EIA estimate for TX....