Peak Oil News and Message Boards

Pops wrote:Obviously it's table stakes, the price can only rise as high as ability to pay allows for a given demand. I think it could go back up the limit, which is brent $120/unleaded +/-US$4 by time to go to Grandmas house for christmas.

It is all about what the various players in the market see in their crystal balls in the medium term. The floor and ceiling are set by costs at the bottom: somewhere around $75 and the ceiling, ability to pay, somewhere around $100. But in the short run it is about how the consumer reacts when they grab the nozzle.

The question is: what can be said about the petroleum extraction-to-waste enterprise? Is it completely worthless? The markets are speaking, it’s best to listen to them; under their breath they are murmuring ‘worthless’, ‘worthless, worthless’.

"Performance vehicle sales around the world continue to grow -- with sales up 70 percent in the United States and 14 percent in Europe since 2009," Pericak said.

Demand for some vehicles is so white hot that automakers can't keep up: Dodge recently announced it was suspending new orders for its 707-hp Challenger and Charger Hellcat models until it could validate orders and fulfill its backlog. And at the New York auto show, traditionally a bastion of luxury car reveals, automakers touted performance models in virtually every segment, from the affordable Ford Focus RS to the new McLaren 570S supercar.

Oil prices slid more than 3 percent on Friday as US futures fell below $60 a barrel for the first time since December on renewed concerns about rising crude supplies. Oil prices slid more than 3 percent on Friday as US futures fell below $60 a barrel for the first time since December on renewed concerns about rising crude supplies. US and Brent crude futures have slid more than 11 percent from this year’s peak in late January. Brent fell nearly 9 percent for the week while U.S. crude dropped 10 percent, the steepest weekly declines since January 2016. Futures posted a sixth straight day of losses, wiping away the year’s gains in a string of high-volume trading sessions, pressured by stronger-than-expected supply figures and a surprising ramp-up of the North Sea Forties Pipeline, which shut earlier in the week. Turmoil on

Summary IEA, EIA projections point to significant supply growth in 2018. However, global upstream investment remains depressed as the market relies almost exclusively on anticipated growth in US output to meet growing global demand. Offshore oil production accounts for 30% of total global oil production and as such remains a key component of the global oil market. Investment spending in the offshore sector remains well below prior peak levels from 2013/14. If US production growth slows or tops out (a possible scenario by 2020), a severe global supply deficit in the oil market may develop from 2020 onwards. In this article we will take a closer look at the latest data and forecasts published by the International Energy Agency (IEA), as well as the Annual Energy Outlook (AEO) published by the Energy Information Administration (EIA). The IEA data will give us a clearer picture of the

Oil Prices Surge As Inventories Decline
by Bloomberg|Andres Guerra Luz & Alex Longley|Friday, February 12, 2021

Oil Prices Surge As Inventories Decline
Efforts to clear an oil surplus are seen holding the market over until demand comes back in force.
(Bloomberg) -- Oil in London climbed for a fourth straight week as efforts to clear an oil surplus are seen holding the market over until demand comes back in force.

Pops wrote:Wow, what a great thread this was!
Back when shorty had the doomers convinced oil was going to $0 while everyone else was shopping for F-150 Coffee cup haulers and Dodge Wildcats.

ShavedMonkey had it: "More time to prep isnt a bad thing for those prepping." I soon after this sold the farm and flipped a few houses figuring fracking would go at least a little while. I have a better cash position now (hard for it to be worse, LOL) but I don't have a farm.

Admittedly the "snap back" in oil price hasn't come around yet. I really learned some humility about my ability to see the future with the surge in LTO. Not to mention in politics, LOL.



I think my forecast based on pure unadulterated nothing was for $85/bbl in 2020. Looks like $60 would have been a better WAG ignoring the plague. Hard to know but as there is an investor born every day I fully expect another run on the LTO unless we run into the post-plague depression. I really find this period interesting, the economy, the plague, Shell's announcement, the Red Queen, even the politics.

Is crude oil due for a correction, or do demand fundamentals support continued upward momentum in prices? This question has been posed recently by various oil market observers. In this week’s installment of what to watch in the oil and gas markets, two of Rigzone’s regular market commentators offer rationales behind both price scenarios. Meanwhile, a third prognosticator points out that demand for one natural gas liquid has been quite healthy and could remain so for longer than expected.