Jabbar + 465 JN November 5, 2019 (edited) https://www.bloomberg.com/news/articles/2019-11-05/opec-sees-its-market-share-shrinking-for-years-as-shale-triumphs Looks like will get Brent price up for IPO. Looks downhill 2020 thru 2025. OPEC report names in addition to U.S. shale - Brazil, Kazakhstan, Norway, Guyana. Plenty of oil. That's without even considering millions of barrels coming on market if Venezuela, Iran and Libya come back. South America - Argentina shale, Argentina offshore, Suriname offshore, Columbia offshore Africa - South Sudan, WHOLE WEST COAST OF AFRICA Iraq wants to double to 8 million/day Too much supply Edited November 5, 2019 by Jabbar Quote Share this post Link to post Share on other sites
Gerry Maddoux + 3,627 GM November 5, 2019 5 minutes ago, Jabbar said: https://www.bloomberg.com/news/articles/2019-11-05/opec-sees-its-market-share-shrinking-for-years-as-shale-triumphs Looks like will get Brent price up for IPO. Looks downhill 2020 thru 2025. Just curious: Why do you say it looks downhill 2020 thru 2025? Many people think we're actually going to hit an oil shortage about 2021. Bloomberg is about as anti-fossil fuel as you can get and not call your news agency The Guardian. The point is, nobody knows what's going to happen. That's what makes it all so damn interesting! Quote Share this post Link to post Share on other sites
Jabbar + 465 JN November 5, 2019 (edited) 1 hour ago, Gerry Maddoux said: Just curious: Why do you say it looks downhill 2020 thru 2025? Many people think we're actually going to hit an oil shortage about 2021. Bloomberg is about as anti-fossil fuel as you can get and not call your news agency The Guardian. The point is, nobody knows what's going to happen. That's what makes it all so damn interesting! OPEC Report stated market share decline, NOT Bloomberg OPEC projects one million barrels demand/day each year until mid decade. OPEC projects major Non-OPEC supply increases is the problem. (plus none of the OPEC members comply now. Even Russia is all talk. Trump sanction Vz/Iran reduced production) I think the World economy has bottomed out and see good growth, thus demand over next couple of years. THE QUESTION IS : Will supply increase faster than demand. How soon will that supply grow. Agreed nobody knows. New oil basins take time. Infrastructure takes time. Ex U.S. needs VLCC oil export terminals. Price will be in flux as U.S. shale goes thru consolidation/transition. Edited November 5, 2019 by Jabbar Quote Share this post Link to post Share on other sites
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