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Oil heading higher
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Oil heading higher
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.
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Re: Oil heading higher
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)
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)
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Re: Oil heading higher
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.
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Re: Oil heading higher
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
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
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