Saudi Arabia Is On The Brink Of Losing Control Of oil markets

[Indos]

Once the pandemic is over starting in 2022 inshaAllah, the oil price will likely to jump into a range of 60-70 USD per barrel. I predict the oil price will increase slowly this year into 60 USD per barrel at the end of this year as the pandemic situation seems to get better due to vaccination program.

The price will not likely to exceed 70 USD per-barrel due to electric car sales growth for US, European, and China market will keep continuing where developing countries will likely start getting good EV sales after 2025 even though still not yet reach significant numbers.

Oil price will likely get huge pressured after 2030 but I suspect the price is not just falling because the supply side will also weaken as oil companies will try to put more investment on renewable project, particularly in Europe and USA rather than finding more oil fields or do more drilling investment.

I would say starting in 2040 most cars in the world will be electric and this is the time where oil industry will likely decrease significantly and only supply oil for military vehicles, airplanes, ships, and maybe trucks and other heavy vehicle and machinery. Oil is still generated but in much lower production rate. Having oil field will still be regarded as very strategic despite not making much money like what it used to do, and I think at this period Indonesia will be self sufficient and doesnt need to import oil anymore.

Gas and coal will likely still survive in 2040 and will keep supplying for power plants in China, India, Indonesia, Bangladesh, Pakistan, and other developing countries, where for European and USA coal power plant will likely not exist anymore but they will likely still use limited amount of coal for their steel industry.

 

[Beast]

Once the pandemic is over starting in 2022 inshaAllah, the oil price will likely to jump into a range of 60-70 USD per barrel. I predict the oil price will increase slowly this year into 60 USD per barrel at the end of this year as the pandemic situation seems to get better due to vaccination program.

The price will not likely to exceed 70 USD per-barrel due to electric car sales growth for US, European, and China market will keep continuing where developing countries will likely start getting good EV sales after 2025 even though still not yet reach significant numbers.

Oil price will likely get huge pressured after 2030 but I suspect the price is not just falling because the supply side will also weaken as oil companies will try to put more investment on renewable project, particularly in Europe and USA rather than finding more oil fields or do more drilling investment.

I would say starting in 2040 most cars in the world will be electric and this is the time where oil industry will likely decrease significantly and only supply oil for military vehicles, airplanes, ships, and maybe trucks and other heavy vehicle and machinery. Oil is still generated but in much lower production rate. Having oil field will still be regarded as very strategic despite not making much money like what it used to do, and I think at this period Indonesia will be self sufficient and doesnt need to import oil anymore.

Gas and coal will likely still survive in 2040 and will keep supplying for power plants in China, India, Indonesia, Bangladesh, Pakistan, and other developing countries, where for European and USA coal power plant will likely not exist anymore but they will likely still use limited amount of coal for their steel industry.

Oil price will not hit even USD 60. Becos at their price point. Shale gas and deep sea oil drill will resume as at oil price above USD 50 will means profit for them. Then u need to take into consideration players like Libya , Iraq and Iran will keep pumping out oil to flood the market once above USD 50 looks attractive to them.

Days of oil as cash cow is over. A lot of stock related to gas oil all suffer major devaluation compare to 2-3 years ago.

 

[zartosht]

The only viable alternqtive to petroleum anywhere close to our lifetime is nuclear power. And the western world is phasing that out as well.

this global warming market has become the worlds biggest scam. Idiots in the west truly believe that if they pay carbon taxes to their government, their mps can bring the global tempeatures down for them

only “scientists” whp belive in this ideology get fu nding and recognition. Any dissenter is outright crucified and disgraced out of his professin fr being evil

this is jndustrial scale stupidity and self improverishment by an elite group of self righteus morons in the west

If you go “green” ( go for wxpensive and grossly ineefficient energy models like solar and wind) you increase you coats. Make yourself poorer and your industries leas prdocutive

while people who are not morons will use cheap energy to outcompete you into the ground

the green revolution is humanities biggest hoax

 

[GumNaam]

How? It’s the biggest and the most prolific producer...

no wants to buy saudi oil anymore.

 

[Indos]

Oil price will not hit even USD 60. Becos at their price point. Shale gas and deep sea oil drill will resume as at oil price above USD 50 will means profit for them. Then u need to take into consideration players like Libya , Iraq and Iran will keep pumping out oil to flood the market once above USD 50 looks attractive to them.

Days of oil as cash cow is over. A lot of stock related to gas oil all suffer major devaluation compare to 2-3 years ago.

It is already 59 USD per barrel despite we are still in early February and vaccination program is still at very slow rate around the world, so look like my prediction has more sound than yours

Oil - BBC News

All the latest content about Oil from the BBC.

www.bbc.com

 

[Timur]

Having a lot of oil seems not a blessing after all. It just make the country become lazy and lack of innovation.

I dont think that every country is being made lazy with such a blessing..

I dont think countries like Germany, Britan, France , China, Turkey or some more would be lazy..

corruption, culture and that you made bear footed people rich in some seconds may be the problem here some people become lazy if they get money other do their best and work even harder..

 

[Aramagedon]

Saudi and Israel will get doomed.

 

[BATMAN]

No one can or will control an open market without having shrewd business acumen, planning, and having top quality product.
Today, oil market is more volatile than ever, especially when technologies are evolving fast and demand is dependent on many external factors.
Whereas, Saudi is not the sole producer of oil in world.
As far Saudi oil industry is concerned it's 99.9% operated by Saudi nationals.... article in OP is kind of unbelievable for Pakistanis who's introduction to Saudi is limited to Imran Khan social media cells.

Saudi and Israel will get doomed.

You need to do more than that to gain control of oil market.
Try asking Pakistani PM Imran Khan, he's most clever ruler ever see by Pakistan, he will be more than happy to give you tips to pull Saudis down.

 

[Indos]

Explained: The significance of crude crossing $60 a barrel
Why has the price of crude oil risen sharply? How will this impact India?​

The price of Brent crude crossed the $60 per barrel mark on Monday after over a year on the back of oil-producing countries maintaining production cuts and expectations of improvements in global demand as the Covid-19 vaccine is rolled out across the world. The price of Brent Crude has risen by over 50 per cent since the end of October after prices had remained around $40 per barrel for five months.

We examine the impact of the recent rise in Brent crude price on fuel prices in India.

Why has the price of crude oil risen sharply?

Major oil-producing countries had cut oil production last year amid a sharp fall in demand due to the Covid-19 pandemic. However oil-producing countries have continued to limit production despite an increase in prices with Saud Arabia cutting its own oil production by 1 million barrels per day to strengthen crude oil prices.

Expectations of strong improvements in demand with the global rollout of the Covid-19 vaccine have also put upward pressure on crude oil prices according to experts.

“Crude trades near Jan 2020 high supported by Saudi’s voluntary production cuts, improvement in virus situation in some US states, vaccination progress and hopes of additional US stimulus,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.


How will this impact India?


The rise in the price of Brent crude will lead to an increase in India’s import bill. India imports of 80 per cent of its crude oil requirements and the average price of Indian basket of crude oil has already risen to $54.8 barrel for January.


The upward move in crude prices will also put upward pressure on petrol and diesel prices across the country which are already at all-time highs due to the recent rally in international crude prices as well as high central and state levies. Petrol prices hit new record highs on Tuesday across metros as oil marketing companies hiked the prices of both petrol and diesel by 35 paise per litre in the national capital taking petrol to a new high of Rs 87.3 per litre. Diesel prices in Mumbai set a new all-time high of Rs 84.36 per litre.


The government had hiked central taxes on petrol and diesel by Rs 13 per litre and Rs 11 per litre in 2020 to boost revenues amid lower economic activity. The increase in taxes had prevented consumers from getting the benefit of low fuel prices as international prices crashed during the first quarter of this fiscal and is now contributing to record high prices as international prices have recovered. Petrol and diesel prices in India are pegged to the international prices of the two products.

Explained: The significance of crude crossing $60 a barrel

Why has the price of crude oil risen sharply? How will this impact India?

indianexpress.com

 

[Saddam Hussein]

Oil should be 300 usd

 

[AZADPAKISTAN2009]

Beautiful Gas/Petrol Vehicle Love it

Only Stock Broker love Tesla , normal people are fine with Petrol/Diesel

 

[Saddam Hussein]

Beautiful Gas/Petrol Vehicle Love it

Only Stock Broker love Tesla , normal people are fine with Petrol/Diesel

That's a good vehicle

 

[Abu Dhabi]

Beautiful Gas/Petrol Vehicle Love it

Only Stock Broker love Tesla , normal people are fine with Petrol/Diesel

that's the family car i have the Yukon ! very comfy and great in the desert. Of course Toyota is the better option , even Nissan , but this is cheaper

 

[OldTwilight]

Having a lot of oil seems not a blessing after all. It just make the country become lazy and lack of innovation.

well , oil industry is natural product of Industrial countries economic growth... The countries without industrial economy just become crude oil exporters which in long run hurt the industrialization process of their economy due the easy income ...

 

[Indos]

Oil price will not hit even USD 60. Becos at their price point. Shale gas and deep sea oil drill will resume as at oil price above USD 50 will means profit for them. Then u need to take into consideration players like Libya , Iraq and Iran will keep pumping out oil to flood the market once above USD 50 looks attractive to them.

Days of oil as cash cow is over. A lot of stock related to gas oil all suffer major devaluation compare to 2-3 years ago.

Brent falls below $70 after Saudi attack as inflation worries mount

A missile attack on facilities owned by energy giant Aramco in Saudi Arabia and optimism about the demand outlook as the global economy recovers supported oil rates.

economictimes.indiatimes.com