Oil: how low can it go?
Discussion
fblm said:
Quite. Scary how a drop in the rate of growth is interpreted as a slow down. I blame GCSE maths.
TBF, looked at through the kaleidoscope of Chinese political elite, it is as problematic as a decline; they need to grow at the high end of single-digit percentages in order to keep the dream alive and avoid discontent with the aspiring working population. They also have increasing amounts of debt to consider; even current GDP growth is only being sustained by a growing deficit.Small bounce maybe; the world economy is so sluggish that even this seems unlikely to tighten supply enough to frighten the horses unless the Kuwaitis don't send in the riot police and get them back to work reasonably quickly. I don't imagine labour laws and employment rights are that great in Kuwait even if you're Kuwaiti.
REALIST123 said:
GT03ROB said:
Indefinite oil workers strike started here today, most GCs shut down, loading operations greatly reduced.
5th or 6th largest world producer effectively shut down. Wonder what happens to oil price in the morning!
So, the markets not impressed with your strike then?5th or 6th largest world producer effectively shut down. Wonder what happens to oil price in the morning!
Probably also gives an indication of how much there is slopping around still.
emicen said:
Could have some impact if it lasts a few weeks, but the sheer volume stockpiled is going to offset any short term impact.
The summer is going to interesting with the reduced production of Brent with Ekofisk going down for maintenance.
But it's stockpiled in the expection of a much higher oil price, and we're no where near that yet, so little or none of it's going to be on the market yet.The summer is going to interesting with the reduced production of Brent with Ekofisk going down for maintenance.
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