/OIL/ THREAD: IVAN IN THE DESERT EDITION
>link to live WTI price:
https://www.dailyfx.com/crude-oil
>Russian and Saudi energy ministers meet on Tuesday (will update with results)
http://www.bloomberg.com/news/articles/2016-02-15/saudi-russian-oil-ministers-said-to-plan-talks-in-doha-tuesday-ikoag6a0
>General Electric looking to get a piece of Xerxes' sweet Persian oil money
http://www.reuters.com/article/us-ge-iran-idUSKCN0VP0AO
>Shell becomes largest producer of LNG:
http://www.usatoday.com/story/money/2016/02/15/royal-dutch-shell-bg-group/80403694/
Im really interested in liquid natural gas (namely Cheniere) and hoping someone has some insight into the industry or just thought in general
>>1096068
I used to work there. Save your money for a legitimate biz
>>1096082
Please expand. Also, pre Icahn or post Icahn?
Is there any chance OPEC is available to agree on anything?
They're in a kinda prisoners dilemma but I'm not so sure trust is high enough to not betray.
I just chucked some on crude oil, its done very well so far, just wondering if I should keep it there or sell?
Looking into Thysson Krupp if anyone knows anything about them lol
>>1096056
>>1096216
>>1096211
>>1096121
>>1096082
What is the biggest US oil ETF? I want to buy some later in the year but from New Zealand so don't know much about american stocks
>>1096219
Hello fellow kiwibro
>>1096221
Hiya, what does your portfolio consist of? (im only getting into investing so I need to speculate and increase my bankroll first)
http://www.bloomberg.com/news/articles/2016-02-16/saudi-arabia-and-russia-agree-oil-output-freeze-in-qatar-talks
>>1096216
Keep it, its only gonna go up now.
>>1096302
They "froze" production instead of "cutting" it. That's like your girlfriend saying she's going to stop "gaining" weight instead of saying she's going to start "losing" weight.
Oil traders know a lot about fat girls.
>>1096294
Is oil price going to jump now, or just stabilize at the 30's?
>>1096219
Why biggest? XLE is pretty based
>>1096480
My crystal ball says maybe.
Just put $500 in UWTI to get a feel for it. Looks like we may be at the bottom.
>>1096480
My crystal ball says that demand will continue to weaken in strength (it's always rising), because the EU is heading for recession MKII, China is in it but won't admit it, and the US has been limping along since 2008, only held up by shale boom and tech bubble
>>1096454
Lmao
I'm surprised they agreed on anything desu. At this point I would imagine another scare towards $20 would cause some real action, or at least the market will anticipate this. Buying everything in sight on the next significant dip
>>1096519
Searched XLE on ASX/NZX are you surei ts the right ticker?
>>1096554
Whelp lost $30 so far. Glad I didn't put more in.
http://www.ogfj.com/articles/2016/02/study-roughly-175-e-p-companies-at-high-risk-for-bankruptcy-in-2016.html
The part of interest:
"One of the key ways companies have managed to remain viable has been through the reduction of production costs, starting in 2015. Today, about 95% of production costs (lease operating expenses and production taxes) of U.S.-origin players operate below $15/boe, versus 65% in 2Q14. The report states that questions on current breakeven prices and near-term cash flows should give way to the future return on capital employed (ROCE) potential of the industry. As the industry improves performance on costs/efficiency, its future emphasis will not be about its ability to make profits at low prices, but generating sufficient ROCE on a large base of devalued investments made in the past."
>tldr: Operating expense in US shale oil production is at $15 a barrel.
So add to that the capital costs of the drilling and the rig (which i dont know) and there you have your fundamental price of oil. I don't know how much more that is, but it sure as hell ain't $50 a barrel.
>mfw gas is under $2/gallon
Soon....soon, my children, my little bottom pickers, my little WTI worriers. The Saudis have beaten the shale traders, ripped their faces off as the Wall Street oil traders used to say in the 1990s, and soon the Saudis will cut off their heads and shit in their necks. But that won't start happening until mid April and all the way through next December as the banks take away the credit of the shale producers. Now you know why the hedge funds have parties as oil and gas prices collapse.
The banks (if any still trade) talked the naive oil producers into believing the overproduction would be over soon much like an anal abuser tells his victim "it will be over soon" as the whimpers die down.
But.......BAM the fucking commences again ,like the first warm day in Minnesota gets people thinking Spring is in the air and they get out admiring their croakuses and BAM a fucking glacier comes down the Mississippi.
There is no reason to speculate on long term oil price increases until......and only until 2 million bpd are taken off the market for some reason.
Until then trade your little volumes and follow the averages, chase pussy like a real oilman and remember that all the stories you hear about the scars on John's head are just bullshit he made up to keep people away from the real story: his momma spilled boiling water on his head when he was a child.
>>1096056
LMFAO at freezing production at record levels, which won even hold since they will use the
Iranians obvious desire to increase production as an excuse to pump even more.
>>1096618
significant dip meaning, what point more or less?
>>1097459
I really enjoyed this.
So what of the OPEC and russkies capping production today, just another bit of teasing?
Got any swing numbers for us to make money short term
Just saw $1.71 in California of all places
Who here made money today?
>>1098333
Woulda been more if I held onto UWTI just a bit longer.
So, Iran says "yeah we're okay with what the are doing, but we won't cut our own production" and oil goes up? What's wrong with the market? Are algos that stupid?
>>1099162
Also frustrated about this. I dont understand why the market reacts positively to "news" that basicly says nothing. But keep in mind that US storage has decreased, which might have caused the price to bump up like this.
I want it to crash the fuck down, so i can start investing longterm and stop worrying about this shit
IT'S LIKE YOU'RE ALL ACTUALLY RETARDED
>>1099167
The news is that Saudis and Russians are agreeing to something. Or anyone is agreeing to anything. It's a step in the right direction, and a lot of investors waiting for an entry point decided yesterday was it.
>>1096056
Buffet buys shares of oil pipelines, what does it mane?
>>1099194
That you should make up your own opinion of the market
