SKEP + 229 SK August 5, 2019 (edited) . Edited August 8, 2019 by SKEP 1 1 Quote Share this post Link to post Share on other sites
Douglas Buckland + 6,308 August 6, 2019 Saudi is simply sitting back (as is the rest of OPEC+) until the house of cards known as the US Shale Oil Miracle collapses due to faltering production and debt. At this point they will regain market share, the oil price will level out, and any surplus (real or imagined) will be liquidated. Exploration will be kick-started and the global O&G industry will breath a sigh of relief. 2 1 3 Quote Share this post Link to post Share on other sites
James Regan + 1,776 August 6, 2019 8 minutes ago, Douglas Buckland said: Saudi is simply sitting back (as is the rest of OPEC+) until the house of cards known as the US Shale Oil Miracle collapses due to faltering production and debt. At this point they will regain market share, the oil price will level out, and any surplus (real or imagined) will be liquidated. Exploration will be kick-started and the global O&G industry will breath a sigh of relief. Well put! The US Shale Patch cannot be used as a weapon against OPEC it’s not a healthy section of the market and you wouldn’t bet your future policy on it! Quote Share this post Link to post Share on other sites
Uduak + 22 UU August 6, 2019 22 hours ago, SKEP said: They have never had to compete.  just leveraged their monopoly. Will be very interesting to see how OPEC/SAUDIS go forward when real competition finally comes to the world oil market in 2020. US majors in Permian won't fold to OPEC this time around. What will competition do to oil prices in 2020 as US Exports hit the world market. I honestly don't know.  I'm inclined to assume prices go down . How much ? We have never seen this before. Nor has OPEC. Actually, it's America (shale oil) that can't compete in a free oil market. 1 Quote Share this post Link to post Share on other sites
SKEP + 229 SK August 6, 2019 (edited) On 8/6/2019 at 9:13 AM, James Regan said: . Â Edited August 8, 2019 by SKEP Quote Share this post Link to post Share on other sites
SKEP + 229 SK August 6, 2019 (edited) On 8/6/2019 at 9:14 AM, Uduak said: . Edited August 8, 2019 by SKEP 1 Quote Share this post Link to post Share on other sites
Douglas Buckland + 6,308 August 7, 2019 11 hours ago, SKEP said: I heard Medical Bone Saw business is booming in KSA. Â If you can't win your original debate....being in something totally unrelated and try again. 1 Quote Share this post Link to post Share on other sites
J.mo + 165 jm August 7, 2019 I think quite a few here are partially wrong, based on their emotional bias linked to prices swung one way or another. I don't have the time to explain my complete view, so I'll keep it short. I think theres a few issues. 1. Price of oil overvalued. If you look back historically, other than the period of the last boom/bust economically, oil has been a fairly cheap commodity. the last sky high price that many greed mongers imagine simply is not sustainable, nor natural. it tanked the world economy. However, greed is as greed does. And individuals got quite accustomed to those margins and revenue. 2. Which leads us to 2. Over valuations of companies, assets and portfolios. The price of oil has to be in the $100+ club, well because it "has" to. Because these companies are valued and invested in on what? Revenue and profits. And shareholders need growth YOY, right? Wrong. The industry has built a house of cards relationship with false structure to it.  There are many, many issues that I see in the oil market. I could go on and on. But I believe there are many people, namely bulls who have got it wrong based on their relationship bias to pricing. Look at this chart in relation to 2013 $US http://chartsbin.com/view/oau 1 Quote Share this post Link to post Share on other sites
SKEP + 229 SK August 7, 2019 (edited) On 8/6/2019 at 9:13 AM, James Regan said: . Edited August 8, 2019 by SKEP 1 Quote Share this post Link to post Share on other sites
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