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  1. uls's Avatar
    uls
    uls is offline Tsikot Member Rank 4
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    April 5th, 2020 09:27 AM #6501
    yup whether they like it or not they have to cut production

    sobra hina ng final demand specially gasoline and jet fuel

    refineries cut runs --> crude oil storage build up --> supertankers full of crude oil parked offshore

    crude producers have to cut
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  2. tsupermario's Avatar
    tsupermario
    tsupermario is offline pissing gasoline
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    April 5th, 2020 09:33 AM #6502
    Quote Originally Posted by erick_214 View Post
    Greedy members! Their truce won't last long.

    Sent from my POCOPHONE F1 using Tapatalk
    long term, better or bad?
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  3. CVT's Avatar
    CVT
    CVT is offline Hoosier'ed Hotspur
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    April 5th, 2020 10:38 AM #6503
    Quote Originally Posted by tsupermario View Post
    long term, better or bad?
    In our manufacturing industry, higher than $50 a barrel is desirable for good business...
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  4. tarzegetakizerd's Avatar
    tarzegetakizerd
    tarzegetakizerd is offline Verified Tsikot Member
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    April 6th, 2020 11:04 AM #6504
    0.35 for gas and 0.70 for diesel today/tomorrow. Maybe I should get a full tank na just in case hahaha
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  5. madball
    madball is offline Verified Tsikot Member
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    April 6th, 2020 11:45 AM #6505
    In Trump we trust.

    Oil set to '''crater''' Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia
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  6. Shutterbug
    Shutterbug is offline Verified Tsikot Member
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    April 6th, 2020 01:42 PM #6506
    Quote Originally Posted by tarzegetakizerd View Post
    0.35 for gas and 0.70 for diesel today/tomorrow. Maybe I should get a full tank na just in case hahaha
    But gas expires that's why Im not filling up cos the cars are just stuck in the garage.

    Sent from my YAL-L21 using Tapatalk
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  7. tarzegetakizerd's Avatar
    tarzegetakizerd
    tarzegetakizerd is offline Verified Tsikot Member
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    April 6th, 2020 02:18 PM #6507
    Quote Originally Posted by Shutterbug View Post
    But gas expires that's why Im not filling up cos the cars are just stuck in the garage.

    Sent from my YAL-L21 using Tapatalk
    I'm using it everyday. I don't have to worry about it
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  8. XTO's Avatar
    XTO
    XTO is offline Mutawa'een
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    April 6th, 2020 02:48 PM #6508
    Quote Originally Posted by tarzegetakizerd View Post
    0.35 for gas and 0.70 for diesel today/tomorrow. Maybe I should get a full tank na just in case hahaha
    paliit na rollback.... ok lang madali magkarga to the max once gumalaw pataas.
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  9. Dr.Kamiya
    Dr.Kamiya is offline Tsikot Member Rank 2
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    April 6th, 2020 02:53 PM #6509
    May OPEC++ deal na ba? Last na nabasa ko delayed daw meeting kasi hindi pa tapos mag sisihan Saudi and Russia kung sino may kasalanan bakit bumagsak presyo.

    OPEC+ Meeting Delayed as Saudi Arabia and Russia Row Over Oil Price Collapse: Sources - The New York Times

    Trump jumped the gun (as usual) announcing na may deal na. Obviously he has vested interests because US Shale Oil companies will die unless the price goes back up to around $40-$50.
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  10. madball
    madball is offline Verified Tsikot Member
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    April 7th, 2020 12:09 PM #6510
    Even if a deal on production cuts is reached, it still won't solve the significant drop in demand.
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  11. falken's Avatar
    falken
    falken is offline Cheap Mechanic
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    April 7th, 2020 02:07 PM #6511
    Quote Originally Posted by Shutterbug View Post
    But gas expires that's why Im not filling up cos the cars are just stuck in the garage.

    Sent from my YAL-L21 using Tapatalk
    Pure Gasoline will last for 6 months.
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  12. cardict's Avatar
    cardict
    cardict is offline Tsikoteer
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    April 8th, 2020 06:52 AM #6512
    Quote Originally Posted by falken View Post
    Pure Gasoline will last for 6 months.
    how about diesel?
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  13. dr. d
    dr. d is offline Tsikoteer
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    April 8th, 2020 09:34 AM #6513
    Quote Originally Posted by falken View Post
    Pure Gasoline will last for 6 months.
    errr...
    whypo?
    i thought there was a glut (oversupply) in the world market...
    Last edited by dr. d; April 8th, 2020 at 10:01 AM.
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  14. uls's Avatar
    uls
    uls is offline Tsikot Member Rank 4
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    April 8th, 2020 10:27 AM #6514
    there's no product demand specially for gasoline and jet fuel

    refineries around the world are either operating below capacity or shutting down



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  15. falken's Avatar
    falken
    falken is offline Cheap Mechanic
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    April 8th, 2020 12:04 PM #6515
    Quote Originally Posted by cardict View Post
    how about diesel?
    About the same.

    Sent from my RMX1971 using Tapatalk
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  16. falken's Avatar
    falken
    falken is offline Cheap Mechanic
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    April 8th, 2020 12:05 PM #6516
    Quote Originally Posted by dr. d View Post
    errr...
    whypo?
    i thought there was a glut (oversupply) in the world market...
    Oh, I was just sharing some facts.[emoji4]

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  17. Monseratto's Avatar
    Monseratto
    Monseratto is offline Social Dementia
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    April 8th, 2020 07:24 PM #6517
    From threats of tariffs to removing of US forces from KSA...


    U.S. oil state senators to talk crude markets with Saudi officials Saturday: source - Reuters


    Republican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom’s officials on Saturday, a source familiar with the planning said on Tuesday.

    The senators’ bill would remove U.S. troops, Patriot missiles and THAAD defense systems from the kingdom and put them elsewhere in the Middle East unless it cuts oil output.

    Threatening the defense relationship with Saudi Arabia, which is vulnerable to attacks from arch rival Iran without U.S. protection, has given the two senators an outsized role in Washington’s campaign to boost oil output.
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  18. uls's Avatar
    uls
    uls is offline Tsikot Member Rank 4
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    April 8th, 2020 07:40 PM #6518
    coz US politicians are under pressure to save their constituents

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  19. uls's Avatar
    uls
    uls is offline Tsikot Member Rank 4
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    April 9th, 2020 03:14 PM #6519
    because of weak demand refiners' product inventory build up

    Singapore — Refiners across Asia have been accumulating unwanted gasoline, diesel and jet fuel inventories since early February as consumer demand faltered following the coronavirus outbreak.

    Major fuel exporters including China, South Korea and India have been actively seeking overseas outlets since late January to clear their excess supplies at home.
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  20. Monseratto's Avatar
    Monseratto
    Monseratto is offline Social Dementia
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    April 10th, 2020 09:19 AM #6520
    Creditors seizing shale producers assets...

    Exclusive: U.S. banks prepare to seize energy assets as shale boom goes bust - Reuters
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