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03-14-2021, 11:29 PM
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#1
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,808
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Oil price
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03-14-2021, 11:30 PM
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#2
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,808
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Is this true?
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03-14-2021, 11:46 PM
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#3
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,642
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May 2020 was the last time oil was around $25
On Jan 20 it was around $53
Last edited by PaceAdvantage; 03-14-2021 at 11:47 PM.
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03-15-2021, 03:43 AM
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#4
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,808
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Quote:
Originally Posted by PaceAdvantage
May 2020 was the last time oil was around $25
On Jan 20 it was around $53
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I saw this quoted and a bunch of different prices. I guess the different grades cause bullshit like this
I didn't think it had gone up that much
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03-15-2021, 05:01 PM
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#5
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Registered User
Join Date: Nov 2012
Location: Bakersfield, CA
Posts: 1,791
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America has taken a backseat production wise and given the keys to the bus back the middle east and Russia.
I'm sure there are people out there who believe those countries will play nice and keep the prices low, that greed will not set in and cause them to manipulate the prices higher.
Those people are stupid.
It will be $100 by June.
$125 by the end of August.
Watch.
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03-15-2021, 06:49 PM
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#6
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Registered User
Join Date: Jan 2007
Location: Ketchikan,AK
Posts: 2,086
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I have friends that are being called back to work on the slope, Prudhoe Bay
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03-15-2021, 09:36 PM
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#7
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Registered User
Join Date: Aug 2009
Posts: 6,375
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Quote:
Originally Posted by PaceAdvantage
May 2020 was the last time oil was around $25
On Jan 20 it was around $53
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That's baking in Briben.. look back to 11\2\20
Closed At
11/02/2020 36.81 467,629 35.24 37.15 33.64
So Oil has almost double due to Joe....
__________________
Remember To Help Old Friends Thoroughbred Retirement Center.
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03-15-2021, 09:59 PM
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#8
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,642
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Quote:
Originally Posted by OntheRail
That's baking in Briben.. look back to 11\2\20
Closed At
11/02/2020 36.81 467,629 35.24 37.15 33.64
So Oil has almost double due to Joe....
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Welp, the original post in this thread was based on a tweet that stated it was $25 "WHEN TRUMP LEFT OFFICE."
That info was dead wrong.
So this has nothing to do with baking in Biden or whatever.
Here is the chart of oil, with inauguration day highlighted (when TRUMP LEFT OFFICE).
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03-15-2021, 11:27 PM
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#9
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Registered User
Join Date: Aug 2009
Posts: 6,375
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Quote:
Originally Posted by PaceAdvantage
Welp, the original post in this thread was based on a tweet that stated it was $25 "WHEN TRUMP LEFT OFFICE."
That info was dead wrong.
So this has nothing to do with baking in Biden or whatever.
Here is the chart of oil, with inauguration day highlighted (when TRUMP LEFT OFFICE).
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I'm not disagreeing with you. Was just pointing out the Briben effect, hence the Baked in on the 20th.
__________________
Remember To Help Old Friends Thoroughbred Retirement Center.
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03-15-2021, 11:49 PM
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#10
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Registered User
Join Date: Dec 2008
Posts: 326
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Oil prices increase with increased economic activity. As the world economies recover from the virus, oil prices will go up. This is good.
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03-16-2021, 02:13 AM
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#11
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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i am guessing that within 3 years, the price per barrel will be under $25 again.
i remember the days with a smaller population where there were 4 corners and gas stations on all of them. today there are none on any corner and lots of gas stations closing. i just drove through a town yesterday and counted 8 closed on Main Street with old names of the stations still with signs up. when you go to parking garages you see spots all full for electric vehicles. Lyft and Uber drives all have either hybred or electric cars. homes are being built now with solar panels that heat the homes.
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03-16-2021, 08:54 AM
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#12
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by Rex Phinney
America has taken a backseat production wise and given the keys to the bus back the middle east and Russia.
I'm sure there are people out there who believe those countries will play nice and keep the prices low, that greed will not set in and cause them to manipulate the prices higher.
Those people are stupid.
It will be $100 by June.
$125 by the end of August.
Watch.
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Opportunity knocks.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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03-16-2021, 09:03 AM
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#13
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Registered User
Join Date: May 2011
Posts: 22,655
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a year ago, the futures market went below zero as there was little storage available and over supply
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03-16-2021, 12:11 PM
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#14
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Registered User
Join Date: Sep 2006
Posts: 677
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I would be surprised to see oil go any higher than $80 a barrel. Not sure if it can get that high. Worldwide demand will increase over the next year, but supply will soon follow. There are many suppliers that will jump in, as higher prices emerge. In addition, if some countries got their act together, there would be a significant increase ins supply. Libya, Iraq, and Venezuela would love to sell more oil. Established producers like Saudi Arabia and Russia also need to sell oil, to support their own budgetary needs, not to mention US fracking. The days of $100 and up oil prices are not likely to be seen anytime soon, baring some international crises.
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03-16-2021, 01:47 PM
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#15
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by alydar
I would be surprised to see oil go any higher than $80 a barrel. Not sure if it can get that high. Worldwide demand will increase over the next year, but supply will soon follow. There are many suppliers that will jump in, as higher prices emerge. In addition, if some countries got their act together, there would be a significant increase ins supply. Libya, Iraq, and Venezuela would love to sell more oil. Established producers like Saudi Arabia and Russia also need to sell oil, to support their own budgetary needs, not to mention US fracking. The days of $100 and up oil prices are not likely to be seen anytime soon, baring some international crises.
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Can't argue with your prediction. The three methods I use to predict price, range from $83, up to $102-118 per bbl. I think that this year is the back end of that international crisis, you mentioned. Meaning the pent up demand to travel, drive and go places when people couldn't do it for over a year. I've heard that baby boomers have taken the place of college kids going on spring break.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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