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Thread: $30 barrel oil?

  1. #1521
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    Quote Originally Posted by The_Rural_Juror View Post
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    Also from Stalkerzone.

    The Vatican says the coronavirus was created in a “laboratory in a powerful and wealthy country
    Just curious how, with the exception of raping young boys, the vatican is an authority on anything at all.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
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    I say stupid shit all the time.
    ^^ Fact Checked

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    If WTI doesn't drop below $15/bbl before next Friday, then I will have to admit I know nothing about how oil is priced and traded. I mean, I already admit I know next to nothing now, but . . . . @killramos , @Darkane , you two are smarter than me, whatcha think?
    Last edited by ExtraSlow; 04-02-2020 at 02:57 PM.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    So... oil price is up today because... Trump tweet? Can't find anything that says SA and Russia are actually cutting.
    Looking around
    Wondering what became
    Of what I once knew

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    Quote Originally Posted by ExtraSlow View Post
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    If WTI doesn't drop below $15/bbl before next Friday, then I will have to admit I know nothing about how oil is priced and traded. I mean, I already admit I know next to nothing now, but . . . . @killramos , @Darkane , you two are smarter than me, whatcha think?
    I think there are 100 things that could happen between now and next Friday that could fundamentally affect prices (SPR fills are a big one in my head). I think the only smart stance is admitting we have no clue what WTI prices are going to do short term here, and making CYA decisions accordingly without completely neutering your ability to participate in the upside. Easier said than done.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
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    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  6. #1526
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    Quote Originally Posted by ExtraSlow View Post
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    If WTI doesn't drop below $15/bbl before next Friday, then I will have to admit I know nothing about how oil is priced and traded. I mean, I already admit I know next to nothing now, but . . . . @killramos , @Darkane , you two are smarter than me, whatcha think?
    You probably say that to all the girls.

    I have no clue what’s going to happen. We’re still grossly overproducing.

    I can see it go down more, unless there is some truth to cuts and it’ll remain inflated falsely for a bit.
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

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    Looking around
    Wondering what became
    Of what I once knew

  8. #1528
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    Ironic lol. Thread title is accurate but in the opposite way.

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    Even cuts of 10 million barrels a day will not prevent massive storage gain: IEA
    https://www.reuters.com/article/us-g...-idUSKBN21L222
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  10. #1530
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    Yup.
    Quote Originally Posted by 89coupe View Post
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    Beyond, bunch of creme puffs on this board.
    Everything I say is satire.

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    Pretty hilarious front page of oilprice.com.
    Oil up, pretty significantly from Monday. And two articles explaining why it should go down.
    Name:  Screenshot_20200404-105901.jpg
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    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by ExtraSlow View Post
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    Pretty hilarious front page of oilprice.com.
    Oil up, pretty significantly from Monday. And two articles explaining why it should go down.
    Name:  Screenshot_20200404-105901.jpg
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    Is oilprice.com the oil industry equivalent to the Motley Fool?

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    Quote Originally Posted by KrisYYC View Post
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    Is oilprice.com the oil industry equivalent to the Motley Fool?
    Not sure if that's an accurate comparison. Maybe it is. I don't know much about Motley Fool. OilPrice is mostly a collection of newswire stories and a smattering of original (but not terribly insightful) content about global energy markets.

    Continental resources suspending dividend and cutting production 30%.
    Quote Originally Posted by Continental Resources press release
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    OKLAHOMA CITY, April 7, 2020 /PRNewswire/ -- In response to the demand destruction attributable to COVID-19, Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") today announced the following:

    "Continental will continue to take decisive action to maximize cash flow generation, accomplish cost savings initiatives and prioritize the strength of our balance sheet," said Bill Berry, Chief Executive Officer. "Global crude oil and product demand is estimated to have been impacted by 30% due to COVID-19. Accordingly, we are reducing our production for April and May 2020 in a similar range."

    Furthermore, the Board of Directors has made the decision to suspend the quarterly dividend until further notice. This is part of the Company's proactive strategy to manage cash flow in a challenging commodity price environment.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  14. #1534
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    I can follow this logic, scraped from linkedin. OPEC cuts and any production reduction from North America will be insufficient to prevent WTI going BELOW $20 within the next two months (I'm betting faster)
    Name:  Linkedin Snip.jpg
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    If you have balls, as soon as the price spikes after the OPEC announcement, buy the Oil Bear ETFs hard.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by ExtraSlow View Post
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    I can follow this logic, scraped from linkedin. OPEC cuts and any production reduction from North America will be insufficient to prevent WTI going BELOW $20 within the next two months (I'm betting faster)
    Name:  Linkedin Snip.jpg
Views: 669
Size:  46.5 KB

    If you have balls, as soon as the price spikes after the OPEC announcement, buy the Oil Bear ETFs hard.
    I’m still questioning the cut at all. But agree with you, oil gonna drop!
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

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    A non-cut would be a stronger move by OPEC. I think that would be smarter for them. Not sure which I think is more likely.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Is the recession over yet? Are we all rich again?

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    Quote Originally Posted by JRSC00LUDE View Post
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    Just curious how, with the exception of raping young boys, the vatican is an authority on anything at all.
    Some poor soul's offence negative rep'd me for this. Must have hit a sore spot, much like his priest. Oh shit guess I'll get another one now At least leave your name next time ya douche!
    Last edited by JRSC00LUDE; 04-07-2020 at 01:26 PM.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
    Originally posted by JRSC00LUDE
    I say stupid shit all the time.
    ^^ Fact Checked

  19. #1539
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    Quote Originally Posted by 2Legit2Quit View Post
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    Is the recession over yet? Are we all rich again?
    Again?
    Wait you were rich before all of this?!?!

  20. #1540
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    Quote Originally Posted by vengie View Post
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    Again?
    Wait you were rich before all of this?!?!
    I sure was once, but that was five years ago.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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