Oil: how low can it go?
Discussion
It looks like oil prices could be going back up again owing to production restrictions which may be applied by OPEC, along with mining (Gold prices it seems) which are apparently going to start going back up again
I wonder how long the oil companies will take to start increasing prices at the pumps? will take as long as it did for pump prices to fall I wonder? Sorry, that is a daft question.
I wonder how long the oil companies will take to start increasing prices at the pumps? will take as long as it did for pump prices to fall I wonder? Sorry, that is a daft question.
Pan Pan Pan said:
It looks like oil prices could be going back up again owing to production restrictions which may be applied by OPEC, along with mining (Gold prices it seems) which are apparently going to start going back up again
I wonder how long the oil companies will take to start increasing prices at the pumps? will take as long as it did for pump prices to fall I wonder? Sorry, that is a daft question.
Seeing as the "current" oil price is based on 3 month futures, any immediate price rises are profit margin moves by the retailers.I wonder how long the oil companies will take to start increasing prices at the pumps? will take as long as it did for pump prices to fall I wonder? Sorry, that is a daft question.
emicen said:
Pan Pan Pan said:
It looks like oil prices could be going back up again owing to production restrictions which may be applied by OPEC, along with mining (Gold prices it seems) which are apparently going to start going back up again
I wonder how long the oil companies will take to start increasing prices at the pumps? will take as long as it did for pump prices to fall I wonder? Sorry, that is a daft question.
Seeing as the "current" oil price is based on 3 month futures, any immediate price rises are profit margin moves by the retailers.I wonder how long the oil companies will take to start increasing prices at the pumps? will take as long as it did for pump prices to fall I wonder? Sorry, that is a daft question.
RDMcG said:
Well. Chinese stock market taking another hit, so will e interesting to see how oil fares tomorrow...........
It was playing catch-up as it were, since it was closed (holiday) when there was some big drops over here in Europe and the US. The question is did it fall the "expected" amount or go down more, potentially pulling the other markets down with it today.Here at the new construction end, we've never seen anything like it. None of the big three shipyards in Korea took a single order in January, unheard of, Seadrill are parking their new drillships until possibly 2019, redundancies and firings by the hundred, projects cancelled or being half completed then made watertight and layed up, brand new LNG carriers and container ships going into layup, and the Eric Raude possibly being scrapped at <15 years old?
I can only imagine the ststorm in Aberdeen.
I can only imagine the ststorm in Aberdeen.
Well, it's old news now, but Dolphin Group have filed. Wonder who's next?
http://www.wsj.com/articles/norways-dolphin-group-...
http://www.wsj.com/articles/norways-dolphin-group-...
sooperscoop said:
Here at the new construction end, we've never seen anything like it. None of the big three shipyards in Korea took a single order in January, unheard of...
It might also be because they had a big backlog of projects which have been delayed, resulting in big cost and time overruns for the companies that ordered them.OzzyR1 said:
I can categorically state that fuel prices will take a steep hike in the near future as I bought an older s/c 4.2 V8 yesterday
This^^. Every time without fail petrol gets more expensive when I have a thirsty car. Sometimes i think I'm actually controlling the market somehow.NRS said:
It might also be because they had a big backlog of projects which have been delayed, resulting in big cost and time overruns for the companies that ordered them.
Yeah, it seems most most offshore projects are a minimum of 1 year and 00's millions behind. I hear the shipping backlog is only 1.8 years now, so it might sort itself out. Jeez, people wait longer than that for a Porsche.sooperscoop said:
NRS said:
It might also be because they had a big backlog of projects which have been delayed, resulting in big cost and time overruns for the companies that ordered them.
Yeah, it seems most most offshore projects are a minimum of 1 year and 00's millions behind. I hear the shipping backlog is only 1.8 years now, so it might sort itself out. Jeez, people wait longer than that for a Porsche.http://www.bloomberg.com/news/articles/2016-02-16/...
Interesting, but doesn't involve the countries that are going to want to increase production so could be a complete waste of time.
Interesting, but doesn't involve the countries that are going to want to increase production so could be a complete waste of time.
London424 said:
http://www.bloomberg.com/news/articles/2016-02-16/...
Interesting, but doesn't involve the countries that are going to want to increase production so could be a complete waste of time.
This has a huge impact on sentiment imo. Interesting, but doesn't involve the countries that are going to want to increase production so could be a complete waste of time.
NRS said:
RDMcG said:
Well. Chinese stock market taking another hit, so will e interesting to see how oil fares tomorrow...........
It was playing catch-up as it were, since it was closed (holiday) when there was some big drops over here in Europe and the US. The question is did it fall the "expected" amount or go down more, potentially pulling the other markets down with it today.Pan Pan Pan said:
A restriction in oil production, by OPEC combined with increasing demand from China (when China starts increasing output at some time in the future) will cause prices to rise. It seems that it is only the `current' slow down in Chinas economy which has caused a glut of oil and steel amongst others things, on the market at the moment. that position will no doubt change.
China's economy isn't slowing it's just the rate of growth that's declined, GDP growth is down to a far from disastrous +6.8% in January 2016, and industrial growth at around 6%ish.RYH64E said:
Pan Pan Pan said:
A restriction in oil production, by OPEC combined with increasing demand from China (when China starts increasing output at some time in the future) will cause prices to rise. It seems that it is only the `current' slow down in Chinas economy which has caused a glut of oil and steel amongst others things, on the market at the moment. that position will no doubt change.
China's economy isn't slowing it's just the rate of growth that's declined, GDP growth is down to a far from disastrous +6.8% in January 2016, and industrial growth at around 6%ish.Pan Pan Pan said:
RYH64E said:
Pan Pan Pan said:
A restriction in oil production, by OPEC combined with increasing demand from China (when China starts increasing output at some time in the future) will cause prices to rise. It seems that it is only the `current' slow down in Chinas economy which has caused a glut of oil and steel amongst others things, on the market at the moment. that position will no doubt change.
China's economy isn't slowing it's just the rate of growth that's declined, GDP growth is down to a far from disastrous +6.8% in January 2016, and industrial growth at around 6%ish.RYH64E said:
Not really, no. When a tap is closed down a bit flow reduces, China's economy isn't reducing, it's growing at about 6% year on year, so in your analogy the tap would be opened up still further. It's the rate of growth that's slowing, their economy is bigger than it was this time last year and will be bigger still in a years time.
Quite. Scary how a drop in the rate of growth is interpreted as a slow down. I blame GCSE maths.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff