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Oil Jumps On OPEC's El-Badri's "$200 A Barrel Sometime" Comments
The headline-reading algos were at the top of their game this morning when milliseconds after OPEC's general secretary Abdalla El-Badri said oil prices could reach $200 a barrel if there's a lack of investment following this price slump... though failed to provide any timeline for his forecast. WTI prices jumped $1 from $45 to $46 even as El-Badri noted the market was still over-supplied by 1.5 million barrels per day.
- *OPEC'S EL-BADRI HOPES OIL MKT WILL RECOVER IN `REASONABLE TIME'
- *OPEC OPEN TO DISCUSSIONS WITH NON-OPEC TO BALANCE MKT: EL-BADRI
- *OPEC TO RESUME SWING-PRODUCER ROLE EVENTUALLY: EL-BADRI
- *EL-BADRI SEES SOME OPEC UPSTREAM PROJECTS CANCELED
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Ah taking a cue from the central bankster jaw flapping to ramp prices. Amazing how little BS it takes to move markets. What a broken fucking system....
$200 A Barrel
A little psychotic.....with a healthy dose of skitcy.
Well you'll have to wait for the banksters to call in the shale rig & equipment loans, then sell them at pennies to a tribesmember first.
Meanwhile, they'll content themselves with picking pennies up in front of the steamroller by 'mouthpiecing'
He better be careful what he asks for.
Cause at $200/bbl the dollar will be worth 25 cents in today's currency which would cripple US military might and leave the Saudis getting over taken by ISIS.
So have fun while it last El-Baldi... Or whatever.
there's all sorts of shit that can happen with the oil price, but again who gives a flying fuck about daily action... the damage has been done, the price has been given a greater than 50% haircut from its high and there's no near term indication that it will reach those levels again anytime soon...
remember, when you drop by 50%, you have to double just to get back to where you started... anyone here see the price of oil doubling in the next couple of years? not me...
I'll take the bet. Last time oil went from 35 to 114 in 26 months, so that's 3.26x annualizing to 12.916% compounding.
http://www.investing.com/commodities/crude-oil-advanced-chart
so with HOU having maybe a 33% gap (3/4 inverting) visible on a 3-year overlay chart this puts HOU to 150 x .75 = 112 or so : 268.461 = WTI2 / HOU x 0.75
Today HOU is under 8, 7.58 now. A gain of 1376% sounds pretty damn good to me. I'm in.
Never see $100 again or we will see $200....these guys are having fun with us
Oil's golden century has ended.
Indeed it has ended in 2000 actually, and that’s why cheap oil is of the past.
We’ll get there soon enouh and why would you spend oil on the poor for example? Oil is one of the most precious resources on the planet and we’re toying with it like kids.
Shove it up your ass EL-BADRI...
Whatsa matter, you short oil? Long gold?
Someone just earn 1bn on this 10 minuts...
At $200 it won't matter if you pump 1 billion barrels a day, there won't be anyone that can afford it. The world economy can't function at $100 per barrel, $200 would be the same as living in the dark ages.
In today's dollars yes, but what will a buck be worth in 2017?
They said the same when oil was at 150, and you know what?
People kept on driving the same way.
It just means a smaller budget for other crap. And it is comming, you’d need to be a idiot to believe oil will reamin cheaper than water.
Irony: because of the energy required to clean & transport water and energy to make containers to store water once potable, oil must always be cheaper than water. The day water becomes cheaper than oil is the day we can easily make it clean for entire cities and move it around those cities without using any energy from oil to make it happen.
Exponential damage. More job losses, more company shut-downs, more manufacturing shut-downs as even raw-materials & energy processing out-strips ability to pay for the products or even ship them. Trucks stopped without gas, maybe with inventory, maybe not, all across the continent.
It might just look like the Walking Dead except the fat slow-moving fuckers are living zombies, no longer even able to afford to recharge their whale-scooters.
Hahaha, Saud now blowing hot n cold.
We initiate Oil at 30 $ to kill shale and Putin/Iran but we would LOVE to see oil go up to 200 when THAT is DONE DEAL...
Yes, Oil stays centerstage for the DECADES to come !
Whence all these guys at Saud's funeral to pick up the bread crumbs (defense contracts etc.) from the new king's table!
PS : here is an article concerning some hstorical fall out in UK of the great GWB crusade and its impact on current ME dystopia. Worth a read especially for the Dubya/Blair photo!
http://www.globalresearch.ca/the-iraq-invasion-the-six-wise-men-tony-bla...
It all depends what a US dollar will be worth "sometime"...
Fucking joke , last night at open was going to $43 handle..
lookwd and it was in a range ...look again and 2 big ass green shoots...fucking joke
Brent didn't flinch...
If you are short here, my hat is off to you. You have cannon bawlz
Yeah right. $200 a barrel oil, that will be good for demand.
Salesmen will be going door to door.....selling it by the thimble.
These clowns just pull numbers straight out of their asses. Hey douche-bag why not $300.00, what the fuck ever.
because $300 is a tad unrealistic, people can only afford $200 oil you know... seriously
This is all a game. The demand numbers and production numbers are all made up - just like every other magical number. Paper oil is almost as easy to manipulate as paper gold. Whether true or not, it is easy to see the algorithm headline "Oil spikes higher due to a drop in production caused by lack of investment, along with increased demand due to the summer driving season."
Well, someone blinks.
So oils correct price is somewhere between $40 and $200...in other words all just fake made up bullshit.
Easy, it costs about 80 to 90 to pull it out of the ground so a reasonable price would be somewhere between 160 and 180 dollars per barrel.
That’s not so outrageious actually.
An OPEC minister says oil will be $200/bbl. Gee, what a surprise.
In your fucking DREAMS, Hanky Head!
$35/bbl, bitches. Get used to it.
of course...... right after ISIS takes the eastern provinces oil fields....
i say the royal house of saud better have the boeings fully fueled and stocked with scotch and on the ready in the near future....their days are numbered... all it takes is reveal on the 28 pages of the 9/11 report showing their complicity in the attack.... goodbye