Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Crude Oil WTI Futures - Jun 24 (CLM4)

Real-time capital.com
Currency in USD
Disclaimer
77.99
-0.96(-1.22%)
Closed

Crude Oil WTI Futures Discussions

Baker Hughes Perspective: Rystad Energy recently came with a prediction that depletion in oil fields will total 3.3 mb/d in 2016. However, if you exclude the 1.6 mb/d in offshore, the decline in shale production will be about 4.9 mb/d. Which brings up the subject of rigs. In Jan 2, 2015 BH reported 1,482 active rigs, by June 26 it was 628 rigs. Rigs began to rise with $60 oil, then peaked at 675 on Aug 28. Currently, there are 372 active rigs. This means 2 things. #1. Producers cannot profit below $60. #2. The **** is going to hit the fan with upstream.
All good facts John but keep in mind the Saudis want to continue to crush shale oil development so they will keep price below $60 for a while longer.....my target is $50
Good piece JL. For sure production is coming down. The only issue is that the breakeven point now is probably closer to 45 range now after significant efficiency improvements. I doubt though that any bankers will give additional loans to fund new drilling, so when the efficiency improvements get their oil, the spike up could be swift.
Hey John, IRAN and Saudis have to produce 3 times more to get the same revenue to balance the book and run the country. They are going continue to produce higher rate and inventory will be high this year. Price range will be high as $45 but low as $25.00
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.