Oil is going to get wacky on Monday...

HoustonHusky

Saudis and Russia fighting. Expected to open ~25% lower.

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war?srnd=premium

Expect some bloodied shale oil companies...

MikeDamone

Sounds worse than peak oil

CuntWaffle

Didn’t we run out of oil already?

PurpleThrobber

Oil down, gold up.

Saudis can go to like $4/bbl and still be solvent.

Squeeze Putin’s nuts

PurpleThrobber

CuntWaffle said:

Didn’t we run out of oil already?

The Throbber has run out of baby oil once or twice. Not good.

HoustonHusky

PurpleThrobber said:

Oil down, gold up.

Saudis can go to like $4/bbl and still be solvent.

Squeeze Putin’s nuts

Saudis budgeted based on $65 crude. Russians based on $45 and they have a rainy day fund. Saudi’s cost to produce is a lot less though which is why they are like ‘fuck it...crash it then until you come back to the table’.

Russia started this with OPEC+...they are pissed about Nord2 and trying to fuck with us (shale). Actual election interference...

WestlinnDuck

It's obvious we need to ban fracking and get oil back to $130 a barrel and phu*ck over the American working man and stuff the pockets of Putin and the Saudis.

MikeDamone

WestlinnDuck said:

It's obvious we need to ban fracking and get oil back to $130 a barrel and phu*ck over the American working man and stuff the pockets of Putin and the Saudis.

We can't drill our way to lower oil prices.

WestlinnDuck

Really all you need to know about leftards. The law of supply and demand is as inflexible as the law of gravity. But leftards believe in magic unicorn farts and fairy dust. You just need to spend tens of thousands of dollars on tuition at an exclusive private college and then learn the "new" economics that will power the nude green eel.

Sledog

I thought shale production was shut down already, price to low?

Cheap oil is good and better if it Congress from overseas! Save ours.

PurpleThrobber

HoustonHusky said:

PurpleThrobber said:

Oil down, gold up.

Saudis can go to like $4/bbl and still be solvent.

Squeeze Putin’s nuts

Saudis budgeted based on $65 crude. Russians based on $45 and they have a rainy day fund. Saudi’s cost to produce is a lot less though which is why they are like ‘fuck it...crash it then until you come back to the table’.

Russia started this with OPEC+...they are pissed about Nord2 and trying to fuck with us (shale). Actual election interference...

Yes. They budgeted but I’m talking strictly cost of production. The Saudis have virtually zip. Their CAPEX expenditures were years ago paid off. Putin has to keep his oil ponzi going at a higher BEP.

Or he is fucked.

Squeeze the balls.