Oil heading higher

john10001
Posts: 25
Joined: November 12th, 2016, 10:22 pm

Oil heading higher

Postby john10001 » January 7th, 2017, 3:38 am

I think oil is going to head higher to $60 in the next 12 weeks. The Yanks will then come out of hibernation and start pumping more. We will also find out which OPEC members have been cheating. And then oil will drop back down to $50 again.

Tymeric
Posts: 28
Joined: November 4th, 2016, 1:03 am

Re: Oil heading higher

Postby Tymeric » January 10th, 2017, 8:13 pm

The Yanks will then come out of hibernation and start pumping more

Is'nt it the case that S.A. has now achieved it's objective....?

with the big increase in US rig utilization...... the U.S. is basically now the swing producer....

(the announcement of OPEC cuts just speeded up the process)

petroleum1
Posts: 14
Joined: November 5th, 2016, 8:44 pm

Re: Oil heading higher

Postby petroleum1 » January 12th, 2017, 3:28 pm

Tymeric wrote:The Yanks will then come out of hibernation and start pumping more


Here is a plot of various shales production in US. Apart from one all seems to be rising.

https://pbs.twimg.com/media/C1K6e7dWEAAmHlC.jpg

But there is a time lag for this to happen and one may be able to use that in short term investing.

dspp
2 Lemon pips
Posts: 246
Joined: November 4th, 2016, 10:53 am

Re: Oil heading higher

Postby dspp » January 12th, 2017, 4:00 pm

p1 -
Those look to be very dated numbers and are per well numbers. Try http://shaleprofile.com/ for more up to date numbers at various levels of detail, or (say) https://www.eia.gov/petroleum/drilling/ ... cellus.pdf. But per well numbers can be misleading due to drilling sweet spots selectively which is easier when volumes are low.
regards, dspp

robert
Posts: 1
Joined: December 2nd, 2016, 5:15 pm

Re: Oil heading higher

Postby robert » January 13th, 2017, 12:29 am

united states oil production increased by 200,000 barrels a day last week.


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