Sanctions On Iran & Oil Prices Looks Dire
There go all the tax cuts for the middle class! Sucked away by Sanctions for regime change In Iran! I guess it's better than a Nuclear Iran.
serf
https://oilprice.com/Energy/Crude-Oil/Sanctions-On-Iran-May-Send-Oil-Prices-Above-90-Next-Year.html
According to Bank of America Merrill Lynch, oil prices will hit $90 a barrel by the second quarter of 2019, as Iranian oil barrels are removed from the market and other supply disruption risks threaten the tightening oil market.
The United States signaled this week that it would look to take as much Iranian oil as possible out of the market with the renewed sanctions on Tehran.
Although Saudi Arabia and Russia had OPEC and allies pledge last week to ease compliance rates, in other words to boost production by an unspecified number, production increases will make the global spare capacity thinner at a time of low inventories, setting the stage for higher oil prices in case of additional supply disruptions, analysts believe.
?We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,? Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch, told CNBC.
serf
https://oilprice.com/Energy/Crude-Oil/Sanctions-On-Iran-May-Send-Oil-Prices-Above-90-Next-Year.html
According to Bank of America Merrill Lynch, oil prices will hit $90 a barrel by the second quarter of 2019, as Iranian oil barrels are removed from the market and other supply disruption risks threaten the tightening oil market.
The United States signaled this week that it would look to take as much Iranian oil as possible out of the market with the renewed sanctions on Tehran.
Although Saudi Arabia and Russia had OPEC and allies pledge last week to ease compliance rates, in other words to boost production by an unspecified number, production increases will make the global spare capacity thinner at a time of low inventories, setting the stage for higher oil prices in case of additional supply disruptions, analysts believe.
?We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,? Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch, told CNBC.
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Great news!
It's about time the world paid for energy at a price that increases the incentives to find and produce more of it.
Technology to expand and create energy production only follows the economic incentive to do so, regardless of what Algore has been pushing for 45 years.0 -
so i thought AMERICA was awash in oil ???? any excuse to raise prices on average Joe ????? and we are still exporting like crazy instead of saving....screw us 0 -
Yea my life has been radically changed. Not!! 0 -
Knowinh a p p year in advance is not forecasting. It is planning. 0 -
America has plenty of oil and at $90 a barrel we will get even more exploration and jobs right here. The cost increase will sting a little but it is worth it to destabilize the nutcase Iranian Government. Maybe, FINALLY, the Iranian people will rise up and hang the nutcase Muslim slime running the dump. 0 -
quote:Originally posted by bpost
America has plenty of oil and at $90 a barrel we will get even more exploration and jobs right here. The cost increase will sting a little but it is worth it to destabilize the nutcase Iranian Government. Maybe, FINALLY, the Iranian people will rise up and hang the nutcase Muslim slime running the dump.
But even if they dislodge the fundamental Islamic State of Iran another will appear with the blue turban cailph and oil will never be 6o dollars a barrel again with the petrol dollar being challenged on all sides as a reserve currency. You can bet on!
serf
http://www.iranicaonline.org/articles/amama-or-ammama-arabic-emama-the-turban
The attempts made in Turkey and Iran to proscribe the turban reinforced its symbolic value, while restricting the numbers of those who wore it. Various religious groups in Turkey, such as the followers of the Naq?band#299; Shaikh Erzurumlu S?leyman Seyfullah Efendi (d. 1946) and the Nurcus, have given great importance to the wearing of turbans (white turbans in the case of the former, green in the case of the latter), especially while performing prayer; the founder of the Nurcu movement, said Nursi (d. 1960), defiantly appeared in public with a turban throughout his life. In Iran, the turban (black for sayyeds and white for others) became a sign of the besieged dignity of the #703;olam#257;#702;. The sumptuary restrictions enacted by Re#380;#257; Shah were experienced by them as part of a comprehensive anticlerical program, while #7732;omeyn#299; has called for the forceful removal of turbans from the heads of those unworthy of the dignity bestowed by the garment (#7716;ok#363;mat-e esl#257;m#299;3, Na#496;af, 1391/1971, p. 202), a penalty that has been enacted several times since the revolution of February, 1979.0 -
The price of oil is set by the traders, it's and global commodity. Even though we are awash in oil as in any traded commodity the market sets the price. One hiccup somewhere in the world and the price spikes. 0 -
quote:Originally posted by use enough gun
The price of oil is set by the traders, it's and global commodity. Even though we are awash in oil as in any traded commodity the market sets the price. One hiccup somewhere in the world and the price spikes.
Well the petrol dollar is getting weaker by the day if oil is traded in other sovereign currencies.
serf
http://www.usdebtclock.org/world-debt-clock.html0 -
quote:Originally posted by Barzillia
The oil patch begins to make good money at around 50-$60/barrel with current technology.
The oil patch makes meager sums at $50-60 a barrel.
Royalty owners make squat (relative to their investment) under $100 a barrel, like it was in the 80s.
America has enormous untapped proven reserves of hydrocarbons, probably a quarter of the world's natural gas, and from the Permian Basin on up into Alaska; more than Canada and Venezuela combined.
Once the eco-commies get back behind the velvet rope, there should be a push to incorporate solar & wind into the pumping/hydraulic fracturing/saltwater disposal arena; oughta make costs go down somewhat on the production side.
Gasoline prices are in no way connected with, or directly correlatable to the price of crude.
The 70s should have proven that to Everyone.0 -
Don't believe all the crap these people put out. Trump is a lot smarter than you think. This has been thought out. Maybe open Anwar HUH ? There's more.
https://www.google.com/search?source=hp&ei=AfI8W9nHD_7J0PEP8PKCsAE&q=anwr+oil+production&oq=Anwar+oil&gs_l=psy-ab.1.3.0i10k1l10.1640.9757.0.17163.11.10.1.0.0.0.152.939.8j2.10.0....0...1c.1.64.psy-ab..0.11.944...0j0i131k1.0.EHjSA5of2_Q0 -
i remember 70's when one could only buy 10-15? gallons at a timess and block long lines at the stations 0 -
quote:Originally posted by spasmcreek
i remember 70's when one could only buy 10-15? gallons at a timess and block long lines at the stations
Used to store gas in 5-gallon cans and switch plates to get gas while all the oil tankers and storage tanks sat full of oil in the area during 1970's.Some rich people just bought a filling station with it's allotment and give out the key for their buddies to use.
serf0 -
quote:Originally posted by Barzillia
quote:Originally posted by gunnut505
quote:Originally posted by Barzillia
The oil patch begins to make good money at around 50-$60/barrel with current technology.
The oil patch makes meager sums at $50-60 a barrel.
Royalty owners make squat (relative to their investment) under $100 a barrel, like it was in the 80s.
America has enormous untapped proven reserves of hydrocarbons, probably a quarter of the world's natural gas, and from the Permian Basin on up into Alaska; more than Canada and Venezuela combined.
Once the eco-commies get back behind the velvet rope, there should be a push to incorporate solar & wind into the pumping/hydraulic fracturing/saltwater disposal arena; oughta make costs go down somewhat on the production side.
Gasoline prices are in no way connected with, or directly correlatable to the price of crude.
The 70s should have proven that to Everyone.
So the major oil companies made meager profits for the last 5 years ?
Major Oil Companies are the guys who buy and sell Major amounts of petroproducts as a business; they should engage in all the Goobermint buffoonery, lies, accusations, vilification and suspicion for FREE?
There are itty bitty people involved, probably 4-5 times as many as those employed by Big Oil; landowners, ranchers, drillers, geologists#8203;, drivers, fitters, landmen, independent start-ups, investors and royalty owners.
The sheer number of reg'lar folks benefiting from all of the economic activity is in the millions; that's bad for you?
Seriously B, try that hope-y change-y thing to your advantage, and create a new energy source to replace those nasty hydrocarbons.
The World would thank you.0 -
quote:Originally posted by Barzillia
So the major oil companies made meager profits for the last 5 years ?
[/quote]
Actually if a major made profits at all the past 5 years it was because they were integrated with upstream, midstream, downstream and chemicals.... Lots of independents went bankrupt 2-3 years ago. Some didn't go bankrupt and still haven't recovered. There are some old fields with liquids plays that are profitable at $35 oil, but not many. Gas, under $2.50mcf, isn't profitable without associated liquids. Dry gas hasn't been drilled for 5 years, except to hold leases. At $50BBL, ROR is about 10% on average. With prices bumping $70BBL, rig count is picking up, mainly in the Permian, Delaware Basin and Bakken. Scattered rig rise also in the Appalachian, Eagleford and
Stack plays. Offshore has done little since Macando, save some state lease and deep water with liquids. Current issues revolve around pipeline capacities and transport from the booming areas....0 -
US needs to keep what we drill. Let China buy $100 barrels. 0 -
quote:Originally posted by texaswildman
quote:Originally posted by Barzillia
So the major oil companies made meager profits for the last 5 years ?
Actually if a major made profits at all the past 5 years it was because they were integrated with upstream, midstream, downstream and chemicals.... Lots of independents went bankrupt 2-3 years ago. Some didn't go bankrupt and still haven't recovered. There are some old fields with liquids plays that are profitable at $35 oil, but not many. Gas, under $2.50mcf, isn't profitable without associated liquids. Dry gas hasn't been drilled for 5 years, except to hold leases. At $50BBL, ROR is about 10% on average. With prices bumping $70BBL, rig count is picking up, mainly in the Permian, Delaware Basin and Bakken. Scattered rig rise also in the Appalachian, Eagleford and
Stack plays. Offshore has done little since Macando, save some state lease and deep water with liquids. Current issues revolve around pipeline capacities and transport from the booming areas....
[/quote]
Nice!
Refreshing to see a post by someone that knows what's up, instead of the cherry picking cut & paste drivel from Komrade b.
"I'm a fan of the gas fields play" RILLY?! Any idea WHICH ones#8203; you're allegedly a "fan" of?
I'm involved in and have production in the DJ Basin, the Permian Basin, the Spraberry, and 16 other "gas fields plays", with PUDs in 4 other states; most have been productive since the '40s.
Being in the middle of an area where active drilling is occurring ought to make Landowners and Leaseholders very happy; what keeps you from enjoying life?0 -
I've been kind of surprised the Scoop hasn't run up a little faster. They have decent infrastructure out there and I don't think the leases were that expensive. See some rigs picking up in the Ardmore area, but lots of resources are getting committed to the big oil plays. Still some decent independents went all in for the Scoop. Good luck on your acreage. Gotta love mailbox money.... [:D] 0 -
I believe if someone wanted a job, they could go to Midland, stand on the side of I-20 with a cardboard sign that says, "No experience, will work for $50/hr" and they would have 10 superintendents fighting each other to hire him...... 0
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