Long term OIL

[tyz]

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

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[vero]

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

but all OPEC member has meeting to push oil price up maybe position buy is good for long-term trade.

[deisik]

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

but all OPEC member has meeting to push oil price up maybe position buy is good for long-term trade.

They can only push prices higher beyond a short-term rise only if they agree to curtail production, which they evidently won't

[fricircled]

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

but all OPEC member has meeting to push oil price up maybe position buy is good for long-term trade.

They can only push prices higher beyond a short-term rise only if they agree to curtail production, which they evidently won't

The Saudi wants to reduce the income from oil in Russia and Iran. So it will want to suppress the oil price.

[deisik]

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

but all OPEC member has meeting to push oil price up maybe position buy is good for long-term trade.

They can only push prices higher beyond a short-term rise only if they agree to curtail production, which they evidently won't

The Saudi wants to reduce the income from oil in Russia and Iran. So it will want to suppress the oil price.

Which they can only do by pumping even more oil

[fricircled]

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

but all OPEC member has meeting to push oil price up maybe position buy is good for long-term trade.

They can only push prices higher beyond a short-term rise only if they agree to curtail production, which they evidently won't

The Saudi wants to reduce the income from oil in Russia and Iran. So it will want to suppress the oil price.

Which they can only do by pumping even more oil

Yes. Even when the price is $10, it is still profitable to produce the oil. But its total income will reduce.

[tyz]

This is one reason. But a minor reason. Saudi Arabia mainly wants to hold its market share. By the enormous production increase of USA, Russia and Iran, their market share declined a little bit. But would has been declined much more when it did not increased their own oil production.

Today's released oil capacity figures:

Oil prices slide as U.S. crude stocks hit record. U.S. crude stockpiles rose by 2.3 million barrels to 534.8 million barrels in the week to March 25, the seventh week at record highs, data from the U.S. government's Energy Information Administration showed.
http://www.reuters.com/article/us-global-oil-idUSKCN0WX00R

but all OPEC member has meeting to push oil price up maybe position buy is good for long-term trade.

They can only push prices higher beyond a short-term rise only if they agree to curtail production, which they evidently won't

The Saudi wants to reduce the income from oil in Russia and Iran. So it will want to suppress the oil price.

[bryant.coleman]

The Saudi wants to reduce the income from oil in Russia and Iran. So it will want to suppress the oil price.

They won't be able to do this for too long. The Saudi net foreign assets have declined by almost $150 billion during the past 18 months, and the annual fiscal deficit has reached new record. If things continue like this, then the sovereign wealth fund will run out in three to four years time. And unlike Russia, Saudi Arabia has no other major source of income.

[Kartikay]

Oil will be good Investment because ultimately you will see the prices rising. We still most of the transportation system running on refined oils. So price and demand will be good till we find new sources of energy.

[tyz]

Not when electricity or battery driven vehicles outstrip oil driven vehicles. Some countries like Norway or China already set up a minimum amount of electric cars on the street. When the world community really wants to decrease the hazardous greenhouse gases as agreed in the Paris pact a few months ago then more and more countries have to follow this approach in the next years.

Oil will be good Investment because ultimately you will see the prices rising. We still most of the transportation system running on refined oils. So price and demand will be good till we find new sources of energy.

[deisik]

The Saudi wants to reduce the income from oil in Russia and Iran. So it will want to suppress the oil price.

They won't be able to do this for too long. The Saudi net foreign assets have declined by almost $150 billion during the past 18 months, and the annual fiscal deficit has reached new record. If things continue like this, then the sovereign wealth fund will run out in three to four years time. And unlike Russia, Saudi Arabia has no other major source of income.

Not a source of income, of course (though some may disagree on this, lol), but the KSA doesn't have debt either. There were rumors about privatization of Aramco if things would get from bad to worse, but nothing seem to have changed since then...

So they would certainly last longer if they decided to use all the means

[HarryKPeters]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

[Kartikay]

Not when electricity or battery driven vehicles outstrip oil driven vehicles. Some countries like Norway or China already set up a minimum amount of electric cars on the street. When the world community really wants to decrease the hazardous greenhouse gases as agreed in the Paris pact a few months ago then more and more countries have to follow this approach in the next years.

Oil will be good Investment because ultimately you will see the prices rising. We still most of the transportation system running on refined oils. So price and demand will be good till we find new sources of energy.

Yes definitely. If electricity or battery driven vehicles outstrip oil driven vehicles then demand of oil would be very less for VEHICLES  BUT this observation lacks practicality. First thing, you can not replace millions of vehicles in the blink of an eye. It would take time and a lot of time. Second thing electricity is produced in power plants and now also most of the power plants require some amount of oil to keep running successfully. So demand of oil can reduce little but cannot vanish.

[Viyamore]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

I also did this .stocking oil..because i heard  and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .

[jaysabi]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

I also did this .stocking oil..because i heard  and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .

Don't quite know how to interpret "oil will be drain by estimated 2023." Are you trying to say that oil will be depleted by 2023? Because that's not close by a long shot.

[botany]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

I also did this .stocking oil..because i heard  and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .

If the world was running out of oil in the next 7 years, nobody would be buying new cars which run on gasoline. 
We still have 40-50 years before this happens, and you can expect technology to compensate before that
A dated article which explains this
http://www.telegraph.co.uk/news/earth/energy/oil/9867659/Why-the-world-isnt-running-out-of-oil.html

[jaysabi]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

I also did this .stocking oil..because i heard  and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .

If the world was running out of oil in the next 7 years, nobody would be buying new cars which run on gasoline. 
We still have 40-50 years before this happens, and you can expect technology to compensate before that
A dated article which explains this
http://www.telegraph.co.uk/news/earth/energy/oil/9867659/Why-the-world-isnt-running-out-of-oil.html

40-50 years is by far on the short side of estimates. Most estimates have us around 100 years still.

[deisik]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

I also did this .stocking oil..because i heard  and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .

If the world was running out of oil in the next 7 years, nobody would be buying new cars which run on gasoline. 
We still have 40-50 years before this happens, and you can expect technology to compensate before that
A dated article which explains this
http://www.telegraph.co.uk/news/earth/energy/oil/9867659/Why-the-world-isnt-running-out-of-oil.html

40-50 years is by far on the short side of estimates. Most estimates have us around 100 years still.

These so called "estimates" are not worth a shit

[jaysabi]

I bought some oil stocks because the potential is there. The world is not ready (by a long shot) to say goodbye to oil and embrace green power. With the price going to 30 dollar and oil producing countries keep increasing their production, the price could easily fall back another 5-10 dollar.

I also did this .stocking oil..because i heard  and see .on a natgeo if im not mistaken oil will be drain by estimated year 2023 . So it is not avisable for me to biy a car that will use only for 6-7 years .

If the world was running out of oil in the next 7 years, nobody would be buying new cars which run on gasoline. 
We still have 40-50 years before this happens, and you can expect technology to compensate before that
A dated article which explains this
http://www.telegraph.co.uk/news/earth/energy/oil/9867659/Why-the-world-isnt-running-out-of-oil.html

40-50 years is by far on the short side of estimates. Most estimates have us around 100 years still.

These so called "estimates" are not worth a shit

Yeah, it's probably better to pretend oil is infinite instead of trying to project how long oil could possibly last based on the information available. 

[deisik]

40-50 years is by far on the short side of estimates. Most estimates have us around 100 years still.

These so called "estimates" are not worth a shit

Yeah, it's probably better to pretend oil is infinite instead of trying to project how long oil could possibly last based on the information available. 

Such projections simply don't make much sense, since within a hundred years a multitude of events will certainly happen that will render these predictions (the proper name) utterly useless and pointless...

Look at what happened during the last one hundred years (to get a clue, lol)