• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 21 hours Could Venezuela become a net oil importer?
  • 27 mins Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 25 mins Oil prices going Up? NO!
  • 1 day Tesla Closing a Dozen Solar Facilities in Nine States
  • 21 hours Gazprom Exports to EU Hit Record
  • 23 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 21 hours Could oil demand collapse rapidly? Yup, sure could.
  • 21 hours Oil Buyers Club
  • 1 day Why is permian oil "locked in" when refineries abound?
  • 1 day Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 14 hours Oil prices going down
  • 1 day EVs Could Help Coal Demand
  • 19 hours Saudi Arabia turns to solar
  • 12 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 1 day China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 7 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
Alt Text

Falling Iraqi Exports Drive Oil Prices Higher

Crude oil prices continued to…

Alt Text

Are High Oil Prices Sustainable?

Oil prices have soared to…

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

Ignore OPEC And Goldman, It’s Time For A Reality Check

It’s stunning how behind the times the analysts can be.

It is, in fact, the one thing to our advantage as independent investors – we care only about being right and less about not being wrong. When oil began dropping below $80 a barrel in early 2015, I admitted my mistake, abandoned my thoughts of a constantly bullish oil market, analyzed the real inputs that were causing the collapse, realigned my thinking for investing in the space and even wrote a book on the whole affair.

Meanwhile, oil companies were whistling through the graveyard – dropping capex projections while continuing to pump oil until the wells that were already on tap were producing at greater volumes than ever. “Keep Calm and Frack On” was the battle cry I heard at every conference in the early months of 2015, as I was telling readers that the time for investment in the oil space wasn’t going to reemerge for months and perhaps years. Oil companies laughed at the idea that oil prices would remain low, and assumed that the drop in oil prices couldn’t possibly last more than a quarter or two.

Now, everyone is starting to believe it – even to the point of ridiculousness. Two of the most influential analysts in the energy sector – both Goldman Sachs and OPEC itself are betting that oil prices that won’t reach $80 again for the next 5 years at least.

Again, this is where I push forward the reality check. Now the pendulum has begun…

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