• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 3 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 mins WTI @ $75.75, headed for $64 - 67
  • 3 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 22 mins OPEC's No. 2 Producer Wants to Know How Buyers Use Its Oil
  • 3 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 2 hours Iranian Sanctions - What Are The Facts?
  • 15 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 15 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 4 mins China Thirsty for Canadian Crude
  • 17 hours Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 16 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
  • 3 hours EU to Splash Billions on Battery Factories
  • 3 hours Superhumans
Alt Text

Oil’s $133 Billion Black Market

With oil prices back on…

Alt Text

The Dark Horse Of The Oil Price Rally

Vietnam is set to break…

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

Trending Discussions

We Might Be Closer To A Bull Market Than You May Think

It’s been a horrible run for oil and oil stocks. But, dare I say it; there are finally some tangible signals of a workable long-term bottom forming in oil – and a further longer-term bull market in oil that’s brewing with it.

Look, there’s no one left who is ready to believe that oil can ever rally substantially again. But I know it must – we cannot get oil from all of the newest, most important sources of oil in the deep oceans and oil sands, as well as from most shale resources here in the U.S. for $30 a barrel.

We’ve been waiting for this over supplied market to ‘clear’ and waiting for oil companies to stop producing full-scale. But that has been a much longer process than just about anyone imagined it could be, including me.

Basic economics are unassailable, however and must assert themselves to destroy production and lift oil prices back to a reasonable, and sustainable level.

The question, for the past year, has been: When?

Here are some signs that we’re further along than even the market is ready to admit:

Fundamentally, oil production in the U.S. is beginning to drop, with quarterly oil company reports pointing to a much deeper slackening of barrels later in the year – Shell, for example, reported on Thursday a very deep drop in profits, which wasn’t surprising. What surprised was their admission of drying up reserves, a consequence of slashed capex that will reverberate…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News