Oil price crash to below 100, soon to crash to 65, bloomberg

[ziaulislam]

So establishment who-ha on IK giving petrol subsidy .

Forgetting to realize that devalution and political instability would cause more damage

One thing is though for sure oil prices will crash soon to less then 50 as recession fears come along and russian war in its closing stages

If russian war does conclude, iranian oil also rushes in..(only russia is blocking the deal) you will see a massive drop.

Despite hawkish USA establishment the no.1 agenda for any US govt will be to drop oil prices or loose elections

 

[Maula Jatt]

We really need a roadmap for ending the establishment as a political entity forever or else they'll eat the whole country from the inside

 

[Clutch]

So establishment who-ha on IK giving petrol subsidy .

Forgetting to realize that devalution and political instability would cause more damage

One thing is though for sure oil prices will crash soon to less then 50 as recession fears come along and russian war in its closing stages

If russian war does conclude, iranian oil also rushes in..(only russia is blocking the deal) you will see a massive drop.

Despite hawkish USA establishment the no.1 agenda for any US govt will be to drop oil prices or loose elections

Doubt it. It may come down to $65 but then bounce back up as demand picks up. There has been little to no investment made in new production. Oil isn't a tap you turn up whenever you want. There are some engineering constraints that need to be overcome before increasing field scale production.

 

[aviator_fan]

So establishment who-ha on IK giving petrol subsidy .

Forgetting to realize that devalution and political instability would cause more damage

One thing is though for sure oil prices will crash soon to less then 50 as recession fears come along and russian war in its closing stages

If russian war does conclude, iranian oil also rushes in..(only russia is blocking the deal) you will see a massive drop.

Despite hawkish USA establishment the no.1 agenda for any US govt will be to drop oil prices or loose elections

you have a source for this? Where is the link to the article.

 

[ziaulislam]

Doubt it. It may come down to $65 but then bounce back up as demand picks up. There has been little to no investment made in new production. Oil isn't a tap you turn up whenever you want. There are some engineering constraints that need to be overcome before increasing field scale production.

There is enough supply in the market
Issue is instability /uncertianty rather then supply

Supply issue has potential to be resolved once 3-4 million barrel oil of iran/russia comes back into the system

 

[Valar.]

There shouldn't be any subsidy on oil no matter whichever party rules.

 

[SaadH]

But the oil companies won't be adjusting the prices at the pump anytime soon.

 

[SD 10]

We really need a roadmap for ending the establishment as a political entity forever or else they'll eat the whole country from the inside

what changed your opinion?

 

[Communism]

So establishment who-ha on IK giving petrol subsidy .

Forgetting to realize that devalution and political instability would cause more damage

One thing is though for sure oil prices will crash soon to less then 50 as recession fears come along and russian war in its closing stages

If russian war does conclude, iranian oil also rushes in..(only russia is blocking the deal) you will see a massive drop.

Despite hawkish USA establishment the no.1 agenda for any US govt will be to drop oil prices or loose elections

A huge portion of the supply that went online in response to the high prices have AISC that are north of 60-80 dollars per BoE.

Those will obviously shut down if/when oil prices go down to 60.

Oil prices cannot stay below 60 USD per barrel as that is OPEC's soft target.

OPEC's strategy currently is to keep oil prices above 60 USD per barrel and then push it slowly upwards until it detects demand destruction and then backs off.

Eurozone will also be burning crude oil in the oil/gas combo plants instead of natural gas if/when they run low on natural gas this winter.

 

[WarKa DaNG]

But JPMorgan warns of oil going to $380 if Russia sheds upto 5 million barrels/day in response to G7 oil cap proposal

 

[Clutch]

There is enough supply in the market
Issue is instability /uncertianty rather then supply

Supply issue has potential to be resolved once 3-4 million barrel oil of iran/russia comes back into the system

There is enough supply in the market
Issue is instability /uncertianty rather then supply

Supply issue has potential to be resolved once 3-4 million barrel oil of iran/russia comes back into the system

Like I said.... It's just not a demand side issue. There are significant supply constraints that will offset any demand recession fears... Back up above $100

Oil up $5 as tight supply outweighs recession fears​

By Laura Sanicola

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3 minute read

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian
July 7 (Reuters) - Oil prices surged on Thursday, rebounding from steep losses the previous two sessions, as investors returned their focus to tight supply despite nagging fears of a potential global recession.
Brent crude futures were up $5.39, or 5.4%, at $106.08 a barrel by 12:23 p.m. EDT (1623 GMT). U.S. WTI crude futures climbed $5.61, or 5.7%, to $104.14 a barrel.