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+--- Thread: The PPS and OPEC (/showthread.php?tid=9429)
The PPS and OPEC - Putncalls - 12-05-2015
Looks like OPEC is gone as is any limits on oil production.
RE: The PPS and OPEC - admin - 12-05-2015
'Putncalls' pid='65072' datel Wrote:Looks like OPEC is gone as is any limits on oil production.
Yes, while their logic (they can hold out longer as they produce the cheapest oil) seems sound at first sight, many of these countries are also much more dependent on oil.
They are basically bankrupting themselves in the process, it's like turkey's voting for Christmas, quite a spectacle.
RE: The PPS and OPEC - Putncalls - 12-05-2015
It appears to be every member for itself. I guess there is no opportunity for logic.
Saudi appears to be the only member with excess capacity.
Iran is getting proposals for development. (maybe 500 MBBLs/day excess)
Iraq has no plans for development that I'm aware of.
UAE is talking about another 500 MBLS per day in a few years
Kuwait?
The other members are "high cost producers". I guess they went under the bus.
Since the Brent sea is in decline, where else is their lower cost production? Only the US?
RE: The PPS and OPEC - Stavros - 12-05-2015
Like it or not, the Recession is holding back oil demand growth worldwide
Recessions come every 7 years ... check it out
The current Recession will end in 8-10 months
Oil demand will then grow faster than production
Oil price will be at decent level by the end of 2016
So-called renewables will not derail the Carbon Train any time soon
DON'T PANIC
Just take advantage of the upcoming BUYING OPPORTUNITY when IOC shares plummet yet again on the news that drilling A-7 will push back E/A certification into 2017. No biggie ...
What a bunch .. they should be working for French Connection (FCUK) instead of IOC (and me as a Shareholder).
RE: The PPS and OPEC - jft310 - 12-05-2015
Stavros IR says they are trying to get Ant 7 drilled simultaneous with Appraisal so no delay into 2017 . Today no approval of Ant 7 .
RE: The PPS and OPEC - jft310 - 12-05-2015
The current massive hedge fund collective trade is long the dollar and short commodities . Interoil is part of tbat trade until it's not . Receiving several billion dollars changes Interoil's valuation. Most think oil drops through first quarter with a gradual recovery by the end of 2016 . The point is oil prices will recover just like they have every other time we have seen the cycle .
RE: The PPS and OPEC - Palm - 12-05-2015
From what I've seen recently most or all are saying oil prices will stay soft throughout 2016. The world economy is overall weak, most feel, and most or all see this winter stacking up to be very mild due to the strongest El Niño in 30 years. OPEC (though a bit splintered) decided yesterday to continue with no production cuts.
Once the Fed makes its move and things settle most feel we will see another drop in oil prices which will last into Spring. Still not enough "pain" by producers (large and small), hence not yet a final flush.
RE: The PPS and OPEC - Stavros - 12-06-2015
Stavros IR says they are trying to get Ant 7 drilled simultaneous with Appraisal so no delay into 2017 . Today no approval of Ant 7 .
And they said this WHEN and to WHOM?
Are they yet again speaking privately to only a few shareholders?
My oh my ... talk about lack of transparency!
RE: The PPS and OPEC - jft310 - 12-07-2015
Getit posted his conversation as did I with IR . You are in a position to be the king of color . Please use that opportunity .