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Thread: Oil Price MEGA THREAD - Yeah baby it's MEGA

  1. #101
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    Glad US can help out Venezuelan Oil.
    Canada is not in the picture.

    "Italian oil company Eni SpA and Spain's Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela. "

    https://www.reuters.com/business/ene...es-2022-06-05/

  2. #102
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    Quote Originally Posted by killramos View Post
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    You can hedge WTI north of 100CAD out to the end of 2024+ right now.

    That’s a very comfortable place for companies to consider long term planning on big projects.

    Even if you don’t hedge as a matter of principe the forward curve printing in places that are solid for projects make even very large pills easier to swallow.
    Where are you seeing $100+? I'm hearing and seeing more in the ~$80 range.

    Point remains the same but im just curious where you are getting $100+ from.

    https://www.wsj.com/market-data/quot...SM24/contracts

  3. #103
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    CAD

    Not USD

    FX is quite wide still despite the high oil prices.

    June 1 strip ( most recent I have handy ) has December 2024 WTI at 98 CAD.

    My general point was even with the backwardation there is lots of room to make money on long term projects.
    Last edited by killramos; 06-08-2022 at 08:18 PM.
    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.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  4. #104
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    Quote Originally Posted by Mogg View Post
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    Where are you seeing $100+? I'm hearing and seeing more in the ~$80 range.

    Point remains the same but im just curious where you are getting $100+ from.

    https://www.wsj.com/market-data/quot...SM24/contracts
    Click any of the prices to see charts.
    https://oilprice.com/oil-price-charts/

    Also seeing WCS differential widening. $19 spread recently. Used to be about $12.

  5. #105
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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?

  6. #106
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    Quote Originally Posted by ExtraSlow View Post
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    Music to my ears!
    Quote Originally Posted by rage2 View Post
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    ...Last thing I want is someone reading my posts and losing their cock over it...
    Quote Originally Posted by Sugarphreak
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    Meh, they all look like Jackie Chan to me
    Quote Originally Posted by ExtraSlow View Post
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    I'm generally cute.

  7. #107
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    High oil prices are my favourite form of money printing. The value generating kind.
    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.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  8. #108
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    My wallet is ready.

  9. #109
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    Prison Wallet?
    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.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  10. #110
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    I need my next job quickly so I can cash in on this properly.
    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?

  11. #111
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    If the USA pumps the strategic reserve at this rate - it should be empty in what? 8 months?

    Maybe we did hit peak oil years ago and noone bothered to tell JimBob about it. Might explain why Biden was on a bicycle.
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

  12. #112
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    Was Biden on a bicycle or was he on the ground?
    Seems like he fell. Poor geriatric, watch those hips.

  13. #113
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    Quote Originally Posted by ExtraSlow View Post
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    Shits going to get wild when people figure out that OPEC has essentially zero spare capacity.
    Not an amazing article, but worth understanding.
    https://oilprice.com/Energy/Energy-G...ealed.amp.html
    https://oilprice.com/Energy/Energy-G...-Week.amp.html

    OPEC is no longer a market force.
    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. #114
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    Name:  F969E28A-BB99-4F2E-9B7F-F91588711E28.jpeg
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  15. #115
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    EU: Please cut NG consumption 15% over the next 8 months. Okthanxbye.

  16. #116
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    Europe is definitely a little bit in panic mode.

    Will the European central bank raise rates back to 0% from negative? Definite maybe. But they could also just go straight for insanity and raise to positive rates.

    https://www.cnbc.com/2022/07/21/euro...-11-years.html

    https://www.stlouisfed.org/on-the-ec...interest-rates
    Last edited by ZenOps; 07-23-2022 at 07:24 PM.
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

  17. #117
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    Repsol sold Chauvin assets to Teine today for $400MM

    https://www.reuters.com/markets/euro...gy-2022-09-06/
    Ultracrepidarian

  18. #118
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    Quote Originally Posted by msommers View Post
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    Repsol sold Chauvin assets to Teine today for $400MM

    https://www.reuters.com/markets/euro...gy-2022-09-06/
    It won't be long before they are entirely out of Canada. They've be a total shit show for years now where the Canadian division is just limping along or supporting other geographic regions.
    Quote Originally Posted by rage2 View Post
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    ...Last thing I want is someone reading my posts and losing their cock over it...
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    Meh, they all look like Jackie Chan to me
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    I'm generally cute.

  19. #119
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    Quote Originally Posted by ZenOps View Post
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    If the USA pumps the strategic reserve at this rate - it should be empty in what? 8 months?

    Maybe we did hit peak oil years ago and noone bothered to tell JimBob about it. Might explain why Biden was on a bicycle.
    He's drawing it down to relieve gas pump prices in short term for his mid term political gain. I believe this is going to cause a snap increase in oil over winter.

    https://markets.businessinsider.com/...eleases-2022-8

  20. #120
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    Man is this administration dumb

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    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.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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