long term... low fuel prices
OPEC sees lower demand for its oil in 2018, points to surplus | Reuters
long term... low fuel prices
OPEC sees lower demand for its oil in 2018, points to surplus | Reuters
longer term
higher oil prices
my argument:
current low oil prices discourage investment in exploration and oil field development specially in higher cost places
in a few years, oil demand will catch up with supply (even in the presence of alternative energy)
it may seem unthinkable now -- in a few years, demand could outstrip supply because of lack of investment
that will support oil prices
DOE: May nakikitang ROLLBACK sa petroleum products next week. Estimate is P0.20-P0.70/liter. Pero baka magbago pa coz may trading pa today
https://twitter.com/alvinelchico/status/885759822217396224/photo/1
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Rollback Estimates:
DIESEL & KERO P0.50-P0.60/L
GASOLINA P0.15-P0.25/L
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^^ parang wala lang effect. [emoji853]
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Shell ROLLBACK
₱0.20/L VPN+ Racing97, VPN+95, FuelSave91;
₱0.60/L VPN+ Diesel, FS Diesel;
₱0.50/L Kerosene;
eff 06:00AM July 18, 2017
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so.... price increase next week?
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New data from Petro-Logistics estimates OPEC production rising in July, further evidence of a weakening compliance rate for the cartel. The consultancy forecasts production rising by 145,000 bpd this month, pushing combined output above 33 million barrels per day. The production gains come from Saudi Arabia, the UAE and Nigeria. Oil prices appeared to fall on the news on Friday.
OIL PRICE HIKE next week. Estimates
Gasolina P0.80-P0.90/L
Diesel P0.60-P0.70/L
Gaas P0.70-P0.80/L
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Shell INCREASE
₱0.90/L VPN+ Racing97, VPN+95, FuelSave91;
₱0.65/L VPN+ Diesel, FS Diesel;
₱0.80/L Kerosene;
eff 06:00AM July 25,2017
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why oil prices recovered
hedge funds cut short positions
Hedge funds close bearish positions in crude and gasoline: Kemp | Reuters
LONDON (Reuters) - Hedge fund managers have continued to cover short positions in crude oil and gasoline, helping lift prices across the petroleum complex against a backdrop of improving fundamentals.
Hedge funds and other money managers reduced short positions in the five major petroleum futures and options contracts by a further 44 million barrels in the week to July 18 (tmsnrt.rs/2gWa6Ui).
Total short positions in ICE Brent, ICE and NYMEX WTI, NYMEX gasoline, and NYMEX heating oil were cut to 350 million barrels, from a record 510 million barrels three weeks earlier.
i think i mentioned this before
the rest of the world does not report oil inventories as timely as the US
US EIA inventory reports are very influential on oil prices eventhough US oil inventories obviously doesn't represent oil inventories outside the US
so why should US oil inventories determine oil prices for the whole world?
but that's reality so Saudi Arabia is trying to doing something about it
Saudi oil exports to US - Business Insider
Recently, Riyadh cut exports to the United States in a bid to cut into American inventories, which had become noticeably bloated due to high U.S. production. According to the EIA , American imports from Saudi Arabia averaged 524,000 bpd in mid-July 2017, a fall of more than 300,000 bpd from July 2016. The U.S. has begun importing larger amounts of Iraqi oil as a result of the Saudi cuts.
Last edited by uls; July 26th, 2017 at 12:55 PM.
Looks like a big increase next week
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OIL PRICE HIKE estimates:
DIESEL P0.40-P0.50/L
GASOLINE P0.20-P0.30/L
GAAS P0.30-P0.40/L
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