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Oil heading higher

Posted: January 7th, 2017, 3:38 am
by john10001
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.

Re: Oil heading higher

Posted: January 10th, 2017, 8:13 pm
by Tymeric
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)

Re: Oil heading higher

Posted: January 12th, 2017, 3:28 pm
by petroleum1
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.

Re: Oil heading higher

Posted: January 12th, 2017, 4:00 pm
by dspp
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

Re: Oil heading higher

Posted: January 13th, 2017, 12:29 am
by robert
united states oil production increased by 200,000 barrels a day last week.