How can they ever pay this off? With oil 50% less?
Why the fluctuation on just 100,000 shares?
They should get rid of this market maker and a more honest one.
Oil is now officially in a bear market as it is down more than -20% from high recently. I think this falls to $40 range.
If Iran starts pumping, oil goes to $40 and under and they will pump like crazy to keep wars they spend money on.
Exxon and Chevron are predicting lower oil last half of year.
Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years.
Exxon reported its lowest profit since 2009 as crude prices fell twice as fast as the world’s largest crude producer by market value could slash expenses. Chevron recorded its lowest profit in more than 12 years after the market rout forced $2.6 billion in asset writedowns and related charges. The companies’ shares fell to the lowest in more than three years.
Stung by the worst market collapse since the financial crisis of 2008, oil explorers from The Hague to Calgary to Houston are firing staff, scaling back drilling, canceling rig contracts and reducing share buybacks to conserve cash. Chevron said the slump convinced it to lower its long-term outlook for crude prices.
“This is the beginning, not the end, of the writedown process,” Paul Sankey, an energy analyst at Wolfe Research LLC, said on Bloomberg TV. “The biggest concern is that we’ll see weaker demand over the second half of the year.”
Oil entered its second bear market since mid-2014 this month as a flood of output from North American shale regions, the Persian Gulf and deepwater fields overwhelmed consumption by refiners and chemical producers.
so far millions have since May 30th when it fell below $10 after the data reported at the 2015 Oncology Conference. This has touched the $6.70 3 times now after running up to $9 and over in just 3 months.
Too many drillers and too much inventory of oil to work off. Until we have massive bankruptcies, no one is cutting back. As the price goes lower, more oil is pumped to get any revenues to pay off debt.
Crude Oil (WTI)
If oil falls further, next week we can see $3 for LINN easily
Crude oil is down -1.55% and no bottom in sight.
Crude Oil (WTI)
I wonder if the time because the 4 executives executed their options on July 13th and 14th. But they haven't sold yhet.
They probably told their traders to buy options ahead and also sell puts at the same time so they win both ways.
Why do you refuse to buy and just try to pump and get newbies into this worthless garbage? CitiGroup Pumps this to $10.40 and six days later it is at $7.20...for a 35% drop.