Brent Crude Oil Tops $80!

[Harsh vardhan singh + 36]

7 hours ago, Structural Master said:

Actually..
The rise in price is not artificial.. its a natural renormalization..
It was geopolitics that created an artificial price drop..
As the US and its Wuhabi Allies intended to thwart Russia and Irans Economies..
That isn't working so well as Russia seems to be able to outlast our efforts..
Aramco IPO probably has something to do w Saudis lack of resolve to continue our evil plan..
These efforts also destroyed the Energy Engineering and Design Sector in the US..
Atleast fas far as American Engineers and Designers jobs are concerned..
You know.. the ones who engineered and designed our energy infrastructure for the last 30-50 yrs..

Im all for a renormalization of oil prices..
Hundreds and Hundreds of Billions of dollars in cap ex
and hundreds of thousands of jobs lost in 4 yrs..
Time to pay

agreed!! that companies laid off employees when the prices was dropped to $30-$40 and now it's time to making some money....

And About Renormalization i am still not sure..

[Bhimsen Pachawry + 72]

8 hours ago, Structural Master said:

Actually..
The rise in price is not artificial.. its a natural renormalization..
It was geopolitics that created an artificial price drop..
As the US and its Wuhabi Allies intended to thwart Russia and Irans Economies..
That isn't working so well as Russia seems to be able to outlast our efforts..
Aramco IPO probably has something to do w Saudis lack of resolve to continue our evil plan..
These efforts also destroyed the Energy Engineering and Design Sector in the US..
Atleast fas far as American Engineers and Designers jobs are concerned..
You know.. the ones who engineered and designed our energy infrastructure for the last 30-50 yrs..

Im all for a renormalization of oil prices..
Hundreds and Hundreds of Billions of dollars in cap ex
and hundreds of thousands of jobs lost in 4 yrs..
Time to pay

What is the normal price of oil and who determines that? The nearest substitute of oil is so expensive that even if Oil price is $1000 a barrel, there would be little alternative (assuming that all fossil fuels like gas, coal are also linked to oil price according to energy content).

The pricing of oil has always been political. As of now, Muslim world has about 55% of oil reserves and hence are extorting from everyone else. Others are not able to produce as much oil as needed for their self consumption and hence are forced to buy Arab oil. This gives a great leverage to control geopolitics.

There is nothing "normal" about oil. Oil is what makes today's people similar to demigods with unbelievable might and abilties which one could not even imagine a hundred year ago. This is definitely not normal

[Tomasz + 1,608]

Now after downturm we badly need money for future investments in conventional/unconventional oil - sorry my dear friends oil at 60$ or below doesnt guarantee us supply for future oil demand. Simple economics. OIl at 80 $ is another discussion. As I said beofore its in my opinion perfect long term price for oil.

[Dennis Coyne + 82]

Tomasz,

I think we may need higher prices than $80/b, maybe $90-100, by 2020, but $80 may get the job done, OPEC may decide to end the recent cut, but I think they may wait until oil prices get to $100/b.

It always hard to guess.

[Structural Master + 18]

7 hours ago, Tomasz said:

Now after downturm we badly need money for future investments in conventional/unconventional oil - sorry my dear friends oil at 60$ or below doesnt guarantee us supply for future oil demand. Simple economics. OIl at 80 $ is another discussion. As I said beofore its in my opinion perfect long term price for oil.

$80 may be enough to spark some new onshore Cap Ex..
But Offshore Cap Ex will remain at these levels below a sustained $110..
That being said.. The cost of engineering design, Major equipment and
slots in a shipyard have been drivin into the dirt by this latest downturn..
Now may be a good time before prices rise further..
China and India aren't shrinking..

All I need is one more oil boom...

 

Edited May 18, 2018 by Structural Master

[vidya prakash cheekhoory 0]

On 5/17/2018 at 6:02 PM, damirUSBiH said:

Brent crude oil on Thursday topped $80 a barrel for the first time since November 2014, as the market grew concerned that the Trump administration's effort to sanction Iran's crude exports could be more successful than originally thought. Yesterday,  Energy Information Administration reported that oil in storage in the United States fell more than expected, dropping by about 1.4 million barrels. Stockpiles of refined products like gasoline and distillates also fell. $90 is not far away.

what the crude oil and gasoline prices will become for vulnerable countries please hope to be answered please thanks

[Bhimsen Pachawry + 72]

17 hours ago, Structural Master said:

$80 may be enough to spark some new onshore Cap Ex..
But Offshore Cap Ex will remain at these levels below a sustained $110..
That being said.. The cost of engineering design, Major equipment and
slots in a shipyard have been drivin into the dirt by this latest downturn..
Now may be a good time before prices rise further..
China and India aren't shrinking..

All I need is one more oil boom...

 

Just because the price has increased does not mean you can get more oil. The oil is a natural resource and no matter what, you can't make it. So, the finite oil will stay finite and will not increase. There is no more oil left to be found, except for a few billion barrels. Stop this wishful thinking.

[Papa John + 1]

Investor in the Oil and gas community looking for info  

[Structural Master + 18]

On 5/19/2018 at 7:02 AM, Bhimsen Pachawry said:

Just because the price has increased does not mean you can get more oil. The oil is a natural resource and no matter what, you can't make it. So, the finite oil will stay finite and will not increase. There is no more oil left to be found, except for a few billion barrels. Stop this wishful thinking.

WRONG..
The lack of Energy Industry Cap Ex is not a result of no more oil..
WTF..?

Edited May 22, 2018 by Structural Master

[Structural Master + 18]

The price Renormalization I refer to is the 5 yr average in 2013 before collapse..
which i think was around $110..

[Bhimsen Pachawry + 72]

9 hours ago, Structural Master said:

WRONG..
The lack of Energy Industry Cap Ex is not a result of no more oil..
WTF..?

There is no more oil. Just because China starts investing and drilling in Tibet does not mean that it will find oil. There is no more oil to find. Most of the exploration are turning out to be duds. It is game over.

[Guillaume Albasini + 851]

Renewables have been ramping up since 2014 despite the low oil price.

Imagine now what it will be with high oil prices...

 

 

[Rion Carlos + 1]

I'm all for higher oil prices, which makes exploration more feasible. This is great news for oil economies such as Trinidad and Venezuela.Also great news for Guyana in particular, with the development of the LIZA field thru Exonmobile. If however, we see $130 plus oil it wouldn't be sustainable for long. We're at a reasonable price right now. $85 is my optimum price. 

[Structural Master + 18]

On 5/22/2018 at 7:51 AM, Bhimsen Pachawry said:

There is no more oil. Just because China starts investing and drilling in Tibet does not mean that it will find oil. There is no more oil to find. Most of the exploration are turning out to be duds. It is game over.

Nomore oil to find...?
Bullshit.. Thats tree hugger propoganda..
if there was truly no more oil developing nations
will never be able to pull themselves out of the dirt
in the current world we live in..
Its just gotta be worth going to get it..

https://oilprice.com/Energy/Energy-General/Rosneft-Discovers-Oil-Field-In-Iraq.html

Edited May 24, 2018 by Structural Master

[Bhimsen Pachawry + 72]

2 hours ago, Structural Master said:

Nomore oil to find...?
Bullshit.. Thats tree hugger propoganda..
if there was truly no more oil developing nations
will never be able to pull themselves out of the dirt
in the current world we live in..
Its just gotta be worth going to get it..

https://oilprice.com/Energy/Energy-General/Rosneft-Discovers-Oil-Field-In-Iraq.html

There are only minor oilfields with 1 billion barrel oil or some other small quantity. These are also limited in number and can't be found abundantly. The oil extraction is 30GBl every year and the oil find is hardy 1-2GBL a year and it is declining fast. By 2020, expect the oil discovery to approach 0.

 

Developing nations and poor nations are the best suited to survive if oil runs out. For example, in USA, only 5% are in agriculture and farming, 75% of people are urban or semi urban and the rest 20% are mostly semi-rural people. The people in urban centres will have no work and food. Whereas, in country like India, 65% of the people are rural, 20% are semi-rural and semi-urban while only 15% are fully urban. 50% of Indians are in farming and when oil runs out, they will will be doing farming.

The developed nations will be in a soup - people are so used to mechanisation that they don't know how to farm in traditional ways

[Rodent + 1,424]

hmm... methinks wherever there is demand, there is supply. For as long as the world needs energy, someone, somewhere, will be willing to supply it, for a price. Oil, coal, wind, solar, hydro, nuclear--whatever. The world will keep spinning wherever there is money to be made.