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Old 12-03-2016, 11:07 AM
 
Location: Beautiful Northwest Houston
6,296 posts, read 7,525,654 times
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OK here we go again. Because of OPEC reaching an agreement to cut production WTI is once again over 50$. Question; is this a temporary spike, or a long term trend ?
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Old 12-10-2016, 12:06 AM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,758,484 times
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It fluctuates in an band from $38 to $52 but the average price for oil has been $45 for quite awhile.
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Old 12-10-2016, 01:47 PM
 
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Quote:
Originally Posted by Jack Lance View Post
OK here we go again. Because of OPEC reaching an agreement to cut production WTI is once again over 50$. Question; is this a temporary spike, or a long term trend ?
How many "experts" accurately predicted the oil market bust?
That's what I thought
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Old 12-10-2016, 09:54 PM
 
Location: Willowbend/Houston
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The latest Ive heard from analysts is stability between $55 and $60 if production continues to be cut. If Saudi decides to ramp up again, well get back to the low $40. If we go to war, we could be in the upper $60's.

There are too many things we cannot predict that affect the cost.
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Old 12-11-2016, 08:18 AM
 
Location: Houston, TX
17,029 posts, read 30,974,756 times
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No. just a spike.
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Old 12-13-2016, 11:46 AM
 
Location: Beautiful Northwest Houston
6,296 posts, read 7,525,654 times
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Quote:
Originally Posted by Oildog View Post
No. just a spike.
IDK Oildog I think you may have this one wrong. Saudi Arabia wants to IPO Araamco, many of the other oil producing nations are desperate for higher prices and investment in new producing ventures has been very low for a couple of years so natural decline is really starting to take a toll on oil production. WTI is flirting with 53$ at the time of this posting...
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Old 12-13-2016, 12:05 PM
 
Location: Willowbend/Houston
13,384 posts, read 25,797,504 times
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The combo of Rex Tillerson being added to the Trump cabinet and OPEC cutting production will drive things up to around $60 IMO. That will stop the bleeding for sure, but it wont be gangbusters ala 2012.
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Old 12-13-2016, 12:21 PM
 
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Originally Posted by Cowboys fan in Houston View Post
The combo of Rex Tillerson being added to the Trump cabinet and OPEC cutting production will drive things up to around $60 IMO. That will stop the bleeding for sure, but it wont be gangbusters ala 2012.
Tillerson is not going to be Energy Secretary, he's going to be Secretary of State

People don't seem to understand the difference between things like that.
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Old 12-13-2016, 12:49 PM
 
Location: Sugar Land, TX
1,614 posts, read 2,669,719 times
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And Perry as Energy Secy...
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Old 12-13-2016, 02:16 PM
 
18,149 posts, read 25,356,417 times
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Originally Posted by swopoe View Post
And Perry as Energy Secy...
Funny, that's the department that he wanted to eliminate and he forgot ..... Oopps
This only make sense in a conservative brain

Oops: Rick Perry Tapped to Lead Department He Wanted to Eliminate | Vanity Fair

Continuing his trend of appointing people to lead the same departments they want to destroy, Donald Trump will reportedly announce that he will appoint Rick Perry, who famously forgot during a 2011 debate that he wanted to eliminate the Department of Energy, to lead the Department of Energy.
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