• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days Does Toyota Know Something That We Don’t?
  • 4 days America should go after China but it should be done in a wise way.
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 5 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 1 day Even Shell Agrees with Climate Change!
  • 2 mins The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 12 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 13 days Putin and Xi Bet on the Global South
  • 13 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

The Oil Investment For The Long Haul

Conoco-Philips started the ball rolling with 3rd quarter reports yesterday and most of the analysts buried the lede. Yes, there was a minor beat on earnings, but that was hardly the story that needed highlighting; it was the continued reduction of capex guidance, down 6% from Q2 reports, that has indicated a very, very critical trend for oil companies and oil’s price going forward from here.

I have written in the past with much frustration about oil companies “lemmings-like” behavior. To quickly recap, oil companies were being rewarded for years by stock analysts and the markets by one measure of progress only – production increases. As oil cratered in mid-2014, oil companies were slow to realign this strategy; Instead, cutting top line spending while maintaining production growth in core holdings, whether those were conventional, non-conventional or off-shore assets.

The theory among oil companies was that the turn down in oil prices was a very temporary one, and when prices inevitably (and quickly) rebounded, they would be on track to be best rewarded (just as they always had) with ever increasing crude oil production. Obviously it didn’t happen in 2015. Suddenly in 2016, oil companies believed that the worst was surely behind them and they prepared to re-ramp capex upwards to ‘pre-bust’ levels. But the markets foiled their plans again – and oil prices couldn’t recover in 2016 either.

This year, oil…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News