Remember a year is 365 days and seasons occur every year.
You would think these people know this by now but apparently not:
11-24-2014
http://finance.yahoo.com/news/why-refineries-returning-maintenance-affect-130041092.html
Why refineries returning from maintenance affect crude oil prices
Refinery maintenance
Refiners schedule maintenance for September and October as they transition to winter-grade fuel from summer-grade fuels. US refineries enter planned seasonal maintenance from September to October as the federal government requires different mixtures in the summer and winter to minimize environmental damage.
As refineries demanded less crude and while crude production grew, crude inventories increased, which pressures WTI crude prices downwards.
However, now that refineries have started increasing their demand for crude inputs, crude oil inventories should typically start seeing some draws. Draws in crude inventories are bullish for crude prices.
Gas dropped again today.
I don't remember the last time it went up.
Quoting and bolding American shit for brains.
As I stated before this is all because the Saudis fear losing relevancy and markets due to high oil prices. They've made it clear in their Opec meeting now that they want to hurt US shale producers to retain market share and foreign policy relevancy for US policy makers. Thus the worst thing that the Saudis can imagine is to suddenly find themselves no longer in position where they are seen vital to US interests. However they are now caught in a trap. As soon as the price of oil starts to climb those shale oil deposits will be tapped into because the technology is here and it is only going to get better. Nevermind the "Green" technology that has developed as a result of market environment of high oil prices. None of the aforementioned is going away and it is only going to improve over time. They are just stalling the inevitable.
Saudi sights set on US shale at crucial OPEC meeting
http://news.yahoo.com/saudi-sights-set-us-shale-crucial-opec-meeting-030251315.html
Quoting and bolding American shit for brains.
Natural gas prices not gasoline prices.
Is it released from fracking? I thought the nat gas glut was the result of fracking. So its a clue that ND isn't going well eh?
Quoting and bolding American shit for brains.
Says the guy with 54k posts and nothing better to do. Gas prices don't affect me much, try getting a real job.
Says the guy with 54k posts and nothing better to do. Gas prices don't affect me much, try getting a real job.
11-26-2014 Blah blah blah blah blah
OPEC heading for no output cut despite oil price plunge
OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June and raising the prospect of a global oil price war.
"The GCC reached a consensus," Saudi Arabian Oil MinisterAli al-Naimi told reporters, referring to the Gulf Cooperation Council which includes Saudi Arabia, Kuwait, Qatar and the United Arab Emirates. "We are very confident that OPEC will have unified position."
A Gulf OPEC delegate told Reuters the GCC had reached a consensus not to cut oil output. Three OPEC delegates separately told Reuters they believed OPEC was unlikely to cut output when the 12-member organization meets on Thursday.
OPEC's traditional price hawk Iran said on Wednesday its views were now close to those of Saudi Arabia.
"The onslaught of North American shale oil has drastically undermined OPEC's position and reduced its market share," said Dr. Gary Ross, chief executive of PIRA Energy Group.
Russia, which produces 10.5 million barrels per day (bpd) or11 percent of global oil, came to Tuesday's meeting amid hints it might agree to cut output as it suffers from oil's price fall and Western sanctions over Moscow's actions in Ukraine.
But as that meeting with Naimi and officials from Venezuela and non-OPEC member Mexico ended, Russia's most influential oil official, state firm Rosneft's head Igor Sechin, emerged with a surprise message - Russia will not reduce output even if oil falls to $60 per barrel.
"The idea of unleashing a price war against U.S. shale oil seems strange to me. I doubt you can win this battle as most U.S. oil producers are hedging a lot of their output," said atop oil executive visiting Vienna for talks with OPEC ministers.
http://www.msn.com/en-us/money/mark...utput-cut-despite-oil-price-plunge/ar-BBg0ttL
Looks like a price war has begun. And while it may dampen U.S. production from shale in a few years, the moment it goes back up, shale's back in production and the see-saw begins again. Guess enjoy it while we can?