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RE: OPEC, for some quiet moments.. - admin - 12-22-2014

Mike Harrowell, Director of Resources Research at BBY, says oil prices could fall to $15-20 a barrel unless Saudi Arabia cuts output to restore market balance.

Why this is not the end of oil's plunge | Watch the video - Yahoo Finance

Such widespread sluggish demand -- along with ample supplies of oil and most everything else -- is the reason commodity prices are falling. They have been since early 2011, but many people failed to notice until recently, when crude oil prices nosedived.

Ready for $20 Oil? - Bloomberg View

Just as the Prius has established itself as the first true mass-market hybrid, Toyota hopes the Mirai will one day become the first mass-market hydrogen car. On sale in Japan on Dec. 15, it will be available in the U.S. and Europe in late 2015 and has a driving range of 300 miles, much farther than most plug-in electrics can go. It also runs on the most abundant element in the universe and emits only heat and water—and none of the gases that lead to smog or contribute to global warming.

Toyota Embraces Fuel-Cell Cars for Post-Gasoline Future - Businessweek

When the conventional media ordains oil inevitably dropping to $40/barrel, I start looking for something else to happen--like oil going to $70/barrel. There are number of reasons this isn't as farfetched as it might seem at the moment.

Maybe Oil Goes to $70 on its Way to $40 | Zero Hedge

Oil producers outside of OPEC should cut their “irresponsible” output with excess supplies harming the market, the United Arab Emirates energy minister said.

Non-OPEC Producers Called on to Cut Oil Output After Rout - Bloomberg

Oil rose for a second day, extending the biggest rally since October 2012 after Saudi Arabia said it was confident that crude will rebound as world economic growth boosts demand.

Oil Rises for Second Day on Saudi Confidence in Demand Rebound - Bloomberg

RE: OPEC, for some quiet moments.. - admin - 12-23-2014

Petroleo Brasileiro SA CEO Maria das Gracas Foster said in June that the development of Brazil’s giant oil discoveries beneath a layer of salt would be cheaper than competing North American projects. That advantage is quickly evaporating.

Crude below $60/bbl tests Petrobras’ ultra-deepwater discoveries

In this article, we'll take a look at the crude oil market -- where the supply comes from, who prices it, and how that translates into what we pay at the pump.

How the Crude Oil Market Works - HowStuffWorks

In the green corner we have the US shale producers. In the red corner we have the oil exporting countries of OPEC. Assuming the fight is fought to a conclusion, who wins? OPEC wins. The US shale producers will shut down first. The reasons are:

Oil price wars – who blinks first? | Energy Matters

Libya’s oil output fell below its own consumption as fighting spread to Mellitah, a region that hosts the country’s fourth largest oil port. National Oil Corp. already this month declared force majeure at two export terminals, Es Sider and Ras Lanuf, after an attempt by Islamist militias to capture them. Force majeure is a legal status that protects a company from liability when it can’t fulfill a contract for reasons beyond its control.

Libya oil production drops as fighting spreads to third oil port

Looking at these factors and others, the members of World Oil’s Editorial Advisory Board—representing the full spectrum of E&P expertise—present their analysis and predictions for 2015.

December 2014 - What industry leaders expect for 2015

Russia's top oil producer Rosneft said on Monday it had met a $7 billion loan repayment, partially easing fears among investors that Western sanctions banning major Russian firms from access to European and U.S. capital could prompt mass defaults.

RIGZONE - Top Russian Oil Firm Rosneft Repays Around $7B in Debt

Only three out of the top four international oil companies generate enough free cash flow to cover spending, including shareholder distributions, in a $60/barrel environment, Wood Mackenzie noted. As a result, spending would need to be cut by $170 billion, or 37 percent year-on-year, at $60/barrel to keep net debt flat.

RIGZONE - Report: Only Three out of Four IOCs Generating Enough Free Cash at $60/bbl

RE: OPEC, for some quiet moments.. - ArtM72 - 12-23-2014

I'll throw this one in the mix, some historic perspective on oil cycles and geopolitical economic pressures:

RE: OPEC, for some quiet moments.. - Putncalls - 12-23-2014

There is a price war with oil. This is not a bubble. A little to much oil from America maybe. I don't see that LNG is in the skirmish. Of course the Saudis wan't admit it!

RE: OPEC, for some quiet moments.. - admin - 12-23-2014

Future oil and gas investments of $930 billion could be at risk of cancellation due to low oil prices, according to analysts at Goldman Sachs. In its Top 400 analysis of the world’s largest new oil and gas fields, Goldman Sachs found that pre-sanction fields that are uneconomic at $70/barrel Brent crude represent 2.3 million barrels per day (bpd) of 2020 production and 7.5 million bpd of 2025 production, or three percent and eight percent of current global oil demand.

RIGZONE - Report: $930B in Future Oil, Gas Investments at Risk from Low Oil Prices

The closures have been particularly acute in Canada, where some 40 oil & gas rigs have been taken out of operation recently. In fact it's not clear if economists fully appreciate what's about to transpire with the Canadian economy. This decline in rig count is just the beginning. Consider for example the situation with the Canadian oil sands - one of the more expensive sources of crude production. Even if prices recover somewhat, oil sands production will be winding down - nobody wants to operate money-losing businesses for a prolonged period.

Canada Oil Sands And Economy In Trouble - Business Insider

The recent drop in oil prices should persist, helping to boost global economic activity by up to 0.7 percentage points next year, two senior IMF economists wrote in a blog on Monday.

Oil price drop to persist, help global growth: IMF

Natural gas was cratering Monday, as mild weather forecasts compound a supply surplus and a general energy market swoon. Nat gas futures were as low as $3.12 per million British thermal units, which is the lowest level since January 2013, and represents a decline of 15 percent in two trading sessions.

Nat gas collapses—‘This is panic selling’

Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to ‎stabilize in the medium term.

Arab OPEC Sources Say Oil Will Be Back Above $70 By The End Of 2015 - Business Insider

RE: OPEC, for some quiet moments.. - jft310 - 12-24-2014

T Boone this AM on CNBC believes within 18 months oil is $90-100 per barrel based on demand increases .

RE: OPEC, for some quiet moments.. - admin - 12-24-2014

'jft310' pid='53585' datel Wrote:T Boone this AM on CNBC believes within 18 months oil is $90-100 per barrel based on demand increases .

He got quite angry there, apparently

RE: OPEC, for some quiet moments.. - jft310 - 12-24-2014

He's getting older me thinks and Becky and Joe were talking through him . The link to his commentary would be on the CNBC website FWIW dept .

RE: OPEC, for some quiet moments.. - admin - 12-24-2014

'jft310' pid='53601' datel Wrote:He's getting older me thinks and Becky and Joe were talking through him . The link to his commentary would be on the CNBC website FWIW dept .

For all I know (I didn't see the clip) he might very well have been right getting angry, some of these talking heads think they know it all, while Boone has been around the block a few times..

RE: OPEC, for some quiet moments.. - trans - 12-24-2014

I don't blame Boone,  that Joe guy is a horse's ass .  I can't deal with his obnoxious and self-cute comments....