Oil Price Watch

[uls]

BUT Saudi Arabia is in trouble

their ability to influence oil prices in the future will diminish

[erick_214]

Seems like prices would still go down, US increased their production.

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[uls]

see the decline in US oil production around 2015-2016?

that was when Saudi Arabia tried to drive US shale oil out of business by maintaining high production that drove oil prices down to $30

US oil production fell coz shale oil producers idled a lot of wells

then in 2016 OPEC+Russia agreed to cut production which drove oil prices back up

US shale oil came back with a vengeance

now the US is biggest oil producer in the world

so no matter what OPEC does, OPEC is screwed

[erick_214]

Seems like Trump is handling the business well and good.

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[uls]

Trump had little to do with it

actually Trump wants LOW oil price diba??? (coz Trump is a populist... low US pump prices = pogi points for Trump)

before the OPEC meeting Trump even tweeted:




HELLOOOO

high oil price is good for US shale oil production

so Trump is actually bad for US oil

kung nasunod siya and oil prices keep falling it's gonna hurt US oil production

[Monseratto]

Trump had little to do with it

actually Trump wants LOW oil price diba??? (coz Trump is a populist... low US pump prices = pogi points for Trump)

before the OPEC meeting Trump even tweeted:




HELLOOOO

high oil price is good for US shale oil production

so Trump is actually bad for US oil

kung nasunod siya and oil prices keep falling it's gonna hurt US oil production

What about the fear that volume taken out by OPEC will be filled up by US Shale Oil Producers, and won't come back to them?

[uls]

there were 2 choices:

1 - keep pumping

2 - don't keep pumping as much

they chose #2 coz i think it's because they already tried #1 and ended up hurting themselves ($30 oil)

i'm sure OPEC+Russia knows US shale oil will replace the oil they cut

i'm sure OPEC+Russia knows the production cut will raise prices and would be an incentive to US shale oil producers to pump more oil

i guess they have accepted that US shale oil is here to stay and they can't do anything about it

[uls]

to be fair, Saudi Arabia's previous strategy of maintaining production to drive US shale oil out of business did work

many US shale oil producers did go out of business

but Saudi Arabia's economy suffered when oil prices fell too low

their economy is totally dependent on oil revenue so as less $$$ came in, they had to get money from their piggy bank

look at how much Saudi Arabia's forex reserves fell

[StockEngine]

This is good news. more supply in the future..

Formation in NM, Texas called largest oil reserve in U.S. | Albuquerque Journal

[uls]

Saudi Arabia's forex reserves have stabilized but haven't recovered to previous levels

They chose #2 coz they CANNOT AFFORD another fight with US shale oil

[Monseratto]

Hike for gas.
Rollback for diesel and kerosene



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[kagalingan]

bakit gaso ang tumaas. Pero not really big kasi 20pesos ang isang full tank. Pero hindi ako gaano inis kasi 6pesos lang binaba sa uglydesel eh full tank pa yan hahahahah keep the change.

[uls]

bakit gaso ang tumaas. Pero not really big kasi 20pesos ang isang full tank. Pero hindi ako gaano inis kasi 6pesos lang binaba sa uglydesel eh full tank pa yan hahahahah keep the change.

bakit bumaba ang diesel

December 3 article

Hedge funds finish selling crude but increasingly bearish on diesel: Kemp | Reuters

LONDON (Reuters) - Hedge fund managers had largely completed the recent wave of selling in crude oil futures and options by the middle of last week but there were heavy sales of derivatives linked to middle distillates.

As the selling pressure has eased, oil prices have stabilized, suggesting the market may have found a temporary floor around $50 for WTI and $60 for Brent.

But there were continued heavy sales of futures and options contracts linked to middle distillates such as gasoil and diesel, in a worrying sign for the global economy.

[CVT]

Hike for gas.
Rollback for diesel and kerosene



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Ha ha ha!

Mali pina full tank ko,- diesel.....😂😂😂

[akosidab]

I dont know much about oils, pero i read before that a crude oil can produce more gasoline than diesel. How come na mas mahal ang gasoline? Is it because of the processing? Or demand?

I also have another question, yun bang malampaya sa palawan produces gasoline and diesel? If yes, mga ilang percent yung output nila sa total need ng pinas? Can anyone please enlighten me to this. Thanks.

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[uls]

I dont know much about oils, pero i read before that a crude oil can produce more gasoline than diesel. How come na mas mahal ang gasoline? Is it because of the processing? Or demand?

I also have another question, yun bang malampaya sa palawan produces gasoline and diesel? If yes, mga ilang percent yung output nila sa total need ng pinas? Can anyone please enlighten me to this. Thanks.

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diesel is heavier and less volatile than gasoline which makes it easier to refine kaya mas mura

But in other countries diesel is more expensive than gas coz their governments tax diesel more

And it also has to do with supply and demand that's why the gap between gas and diesel prices fluctuate

Malampaya produces natural gas not crude oil

[erick_214]

Mas mura diesel dahil may tax incentives ang diesel for public transpo. Pero dapat mas mahal na yan dahil mas marami na ata ang diesel engines ngaun.

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[akosidab]

diesel is heavier and less volatile than gasoline which makes it easier to refine kaya mas mura

But in other countries diesel is more expensive than gas coz their governments tax diesel more

And it also has to do with supply and demand that's why the gap between gas and diesel prices fluctuate

Malampaya produces natural gas not crude oil

Thanks mejo naliwanagan na ako.

Kung natural gas pala yung sa malampaya, we will still be dependent in other countries for our oil. I think yung malaysia has their own oil kasi sabi ng friend ko half the price yung oil nila compared to us.



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[akosidab]

Yun din ang tingin ko, everytime i drive it seems na mas marami yung diesel powered sa kalsada.



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[uls]

Thanks mejo naliwanagan na ako.

Kung natural gas pala yung sa malampaya, we will still be dependent in other countries for our oil. I think yung malaysia has their own oil kasi sabi ng friend ko half the price yung oil nila compared to us.



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yes we are totally dependent on imported oil

Malaysia produces crude oil

Actually Malaysia's crude oil is called Tapis crude which is a pricing benchmark like Brent and WTI