Internal Fighting within OPEC

[SHOZ]

No I am just saying what is being predicted by investment firms. I got no bones to pick. But is a lot of business in Texas based on the new oil rigs?

http://www.dallasnews.com/business/headl...th-in-texas.ece

http://finance.yahoo.com/news/number-us-oil-rigs-operation-184616613.html

http://fuelfix.com/blog/2014/12/17/more-than-500-rigs-may-shut-down-as-oil-slides-analysts-say/

 

[HerrStig]

Originally Posted By: SHOZ
I think it's another way to hurt Russia economically.
It will at least make Russia pay more attention to how they run their oil business from a cost standpoint. Still, oil producers must come face to face with a basic assumption which is in the absence of a cartel the MARKET will determine who sells how much, and attempts to drive prices UP will bring new production into play. OPEC, et al, created their current problem by keeping prices far higher than then shale oil production costs, which made shale oil production profitable, perhaps they can price out some shale oil by lowering prices, but as soon as they try to take advantage and raise them again the shale guys will start looking and pumping. Too bad

OPEC, your greed was your undoing. How the politicians in the UK can look the sheep in the eye and tell them 6 dollar a gallon gas is a fair way to treat them is beyond me, but if the UK sheep like it that way, so be it.