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Thread: Oil Slick Stuff

  1. #14761

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    Default Re: Oil Slick Stuff

    Quote Originally Posted by nasa1974 View Post
    So that's why gas jumped to $2.19/gallon yesterday.

    Still $2.01 in JAWJA!
    Links Crude Settle $57.20 11-07-2017
    -$.15 Loss




  2.  
  3. #14762

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    Default Re: Oil Slick Stuff

    I noticed a couple of stations dropped their price to $2.09/gal yesterday.
    May the force be with us.

  4.  
  5. #14763

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  6.  
  7. #14764

    Default Re: Oil Slick Stuff

    A wise man speaks when he has something to say...A FOOL speaks when he just has to say something

  8.  
  9. #14765

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    Default Re: Oil Slick Stuff


    Oil is everywhere who would have thought it? We did!!!
    Links Crude Settle $57.20 11-07-2017
    -$.15 Loss




  10.  
  11. #14766

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    Default Re: Oil Slick Stuff

    Gas was $2.09/gal yesterday going home and this morning it is $2.35/gal.

    Good thing I filled the tank yesterday.
    May the force be with us.

  12.  
  13. #14767

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    Default Re: Oil Slick Stuff

    E10 averaging $2.00 a gallon in Boiled Peanut GA!!
    Links Crude Settle $57.20 11-07-2017
    -$.15 Loss




  14.  
  15. #14768

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    Default Re: Oil Slick Stuff

    Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce

    by Deon Daugherty
    |
    Rigzone Staff
    |
    Wednesday, March 22, 2017



    Offshore energy companies ponied up more than $315 million in bids to lease 913,542 acres in the Gulf of Mexico off the coast of Louisiana, Mississippi and Alabama on Wednesday.

    The lease sale is the final one in the GOM under the Obama Administration’s Five-Year Plan, which made available all offshore areas with the greatest resource potential from 2012 through 2017. The first 11 sales in the program netted more than $3 billion in bid revenue on almost 73 million acres for development, according to information from the Interior Department.
    The top five bidders included major oil and gas companies:

    • Shell Offshore – $61 million
    • Statoil – $51 million
    • Chevron Corp. – $50 million
    • Hess Corp. – $44 million
    • ExxonMobil – $22 million

    The Bureau of Ocean Energy Management (BOEM) said it offered 9,118 unleased blocks, covering 48 million acres, located from three to 230 nautical miles offshore Louisiana, Mississippi, and Alabama, in water depths ranging from nine to more than 11,115 feet.
    “The Gulf of Mexico is one of the most productive oil and gas basins in the world, and its mature offshore and onshore infrastructure supports safe and responsible development of our domestic energy resources,” Secretary Zinke said.[more and more oil]

    NEWS *|* Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce *|* Rigzone
    Links Crude Settle $57.20 11-07-2017
    -$.15 Loss




  16.  
  17. #14769

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    Default Re: Oil Slick Stuff

    Oil slides below $47 as withdrawal from climate deal sparks supply concerns

    Published: June 2, 2017 6:34 a.m. ET

    Losses deepened for oil prices on Friday, with crude oil falling below $47 as rising U.S. production and President Trump’s withdrawal from the Paris Climate Accord added to concerns of a persistent supply glut.
    On the New York Mercantile Exchange, West Texas Intermediate crude futures for delivery in July CLN7, -2.17% slid $1.41, or 2.9%, to $46.95 a barrel, setting it on track for its lowest settlement price since May 12, according to FactSet data.
    August Brent LCOQ7, -2.13% , the global benchmark, slid $1.51, or 3%, to $49.13 on ICE Futures Europe.
    The losses on Friday extended a late-afternoon pullback on Thursday, which more than reversed gains triggered by a bigger-than-expected drop in U.S. inventories. The drop came as traders instead focused on rising U.S. output and Trump pulling the country out of the global climate deal, which could spur even higher U.S. production, analysts said.
    “I see oil trading lower due to robust U.S. production, record export and rising production in Libya and Nigeria. We are just simply not seeing the rebalancing process progressing fast enough,” said Ole Hansen, head of commodity strategy at Saxo Bank, in emailed comments. [more]

    Oil slides below $47 as withdrawal from climate deal sparks supply concerns - MarketWatch
    Links Crude Settle $57.20 11-07-2017
    -$.15 Loss





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  19. #14770

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    Default Re: Oil Slick Stuff

    Note:

    I would like to formally apologize for a discussion I had earlier today with a coworker, on the subject of "Oil Price and Demand".

    He is very right wing, and argued that price is down because of American production increase.

    I argued that the price is down because demand has become less due to more strict EPA fuel economy standards.

    After further investigation of the facts, I hereby declare that I WAS INCORRECT and that the bigger of the two influencers on oil prices is increased production.

    I apologize for being wrong.

    Signed- James48843, this 22nd Day of June, 2017.

  20.  
  21. #14771

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    Default Re: Oil Slick Stuff

    OPEC Moves To Cap Nigerian Oil Output, Boost Compliance

    by Reuters
    |
    R. El Gamal, K. Golubkova & V. Soldatkin
    |
    Monday, July 24, 2017

    ST PETERSBURG, Russia, July 24 (Reuters) - OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices.
    OPEC has agreed with several non-OPEC producers led by Russia to cut oil output by a combined 1.8 million barrels per day (bpd) from January 2017 until the end of March 2018.
    OPEC states Libya and Nigeria were exempted from the limits to help their oil industries recover from years of unrest.
    The deal to curb output propelled crude prices above $58 a barrel in January but they have since slipped back to a $45 to $50 range as the effort to drain global inventories has taken longer than expected.
    Rising output from U.S. shale producers has offset the impact of the output curbs, as has climbing production from Libya and Nigeria.
    A ministerial committee of OPEC and non-OPEC states that monitors the global oil pact said it had agreed Nigeria would join the deal by capping or even cutting its output from 1.8 million bpd, once it stabilises at that level from 1.7 million bpd recently.[more]

    OPEC Moves To Cap Nigerian Oil Output, Boost Compliance *|* Rigzone
    Links Crude Settle $57.20 11-07-2017
    -$.15 Loss




  22.  
  23. #14772

    Default Re: Oil Slick Stuff

    Quote Originally Posted by James48843 View Post
    Note:

    I would like to formally apologize for a discussion I had earlier today with a coworker, on the subject of "Oil Price and Demand".

    He is very right wing, and argued that price is down because of American production increase.

    I argued that the price is down because demand has become less due to more strict EPA fuel economy standards.

    After further investigation of the facts, I hereby declare that I WAS INCORRECT and that the bigger of the two influencers on oil prices is increased production.

    I apologize for being wrong on EVERYTHING.

    Signed- James48843, this 22nd Day of June, 2017.
    Jim, you are usually wrong on a lot of things..you should make this your blanket apology for everything
    A wise man speaks when he has something to say...A FOOL speaks when he just has to say something

  24.  
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