Oil prices have plunged nearly 20% this month | |
Anonymous Coward User ID: 3860978 Canada 07/31/2015 08:23 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 08:29 AM Report Abusive Post Report Copyright Violation | Low oil prices are lasting a lot longer than petro-rulers thought they would A nightmare scenario may be unfolding for Russia and some OPEC members: Low oil prices, rather than being a fast way to hobble upstart US shale oil, seem likely to linger for quite a while longer, perhaps well into next year and beyond. If prices do stay in their current range of $45 to $55 per barrel—and a lot of analysts believe they will, if not fall even further—some of the world’s petro-rulers have tough decisions ahead to stave off serious political instability. It turned out that Saudi Arabia had decided to flood the oil market. But not all the petro-states have such cash reserves. Among those are Russia, whose state budget—the funder of much in the way of social spending and subsidized natural gas prices—relies heavily on oil and natural gas exports. [link to qz.com] The oil price trouble is not only in Russia. Apart from a handful of OPEC states, including Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates, no member of the cartel is positioned fiscally to withstand a long bout of low prices. The low prices have also led major oil companies to pull back spending, and made them much pickier about where they will drill. [link to qz.com] |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 08:29 AM Report Abusive Post Report Copyright Violation | Windsor Brokers ‏@windsorbrokers 6m6 minutes ago Crude Oil prints fresh session low at 47.68. $$ #CRUDEOIL #FX # MineForNothing ‏@minefornothing 2m2 minutes ago RT @TeleFinance Russia cuts interest rates as Putin faces renewed crisis from falling oil prices [link to tgr.ph] |
Anonymous Coward User ID: 63300645 United States 07/31/2015 08:47 AM Report Abusive Post Report Copyright Violation | I work as a recruiter in the oil and gas industry. Lots of people out of work in Texas, Canada, and North Dakota now. Just had several job orders go cold after the Shell announcement. I am now hearing that this downturn will last 2 years. Oh and prices are dropping because of this Iran deal. That floods the market with new purchaseable oil. This is what Obama wants. Make no mistake about it. |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 08:50 AM Report Abusive Post Report Copyright Violation | Rosneft ready to halt operations in Abkhazia pending inquiry Ruble strengthens fall, dollar exceeds 61 rubles after Central Bank decision to lower key rate [link to interfax.com] |
Anonymous Coward User ID: 69171487 United States 07/31/2015 08:54 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 08:55 AM Report Abusive Post Report Copyright Violation | I work as a recruiter in the oil and gas industry. Lots of people out of work in Texas, Canada, and North Dakota now. Quoting: Anonymous Coward 63300645 Just had several job orders go cold after the Shell announcement. I am now hearing that this downturn will last 2 years. Oh and prices are dropping because of this Iran deal. That floods the market with new purchaseable oil. This is what Obama wants. Make no mistake about it. This downturn is meant to destroy Russia and it will last until September, when Russia will have no other option left than the military one. Russia is developing technical devices capable of neutralizing any missile defense system - Russian Defense Ministry [link to interfax.com] Russia’s military surveillance in the Arctic maintains control over airspace and ocean 500km from the shore, Defense Ministry claims. Soviet-era military bases along the opening Northern Route are being de-mothballed and renovated. Russia’s Defense Ministry is actively implementing the program to revive its military presence in the Arctic following mass closure of military installations there in 1990s. [link to www.rt.com] |
Anonymous Coward User ID: 69063223 United States 07/31/2015 08:57 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 69171487 United States 07/31/2015 08:58 AM Report Abusive Post Report Copyright Violation | |
Narcissistic
User ID: 66822930 United States 07/31/2015 09:00 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 09:03 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 69496699 Sweden 07/31/2015 09:03 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 09:05 AM Report Abusive Post Report Copyright Violation | Energy expert: Gazprom has nowhere to sell its gas [link to www.unian.info] |
hIndsIght2020
User ID: 61828182 United States 07/31/2015 09:06 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 37139792 United Kingdom 07/31/2015 09:06 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 09:09 AM Report Abusive Post Report Copyright Violation | Gazprom sells Gazflot Gazprom is preparing for the sale of Gazflot, the 100 percent subsidiary specialized on offshore drilling, seismic exploration and geological engineering, newspaper Moskovskie Novosti reports. Gazflot focuses exclusively on the Barents Sea, the Pechora Sea, the Yamal shelf and the Ob and Taz Bays. It has a branch company in Murmansk. Arkadii Rottenberg is believed to be the likely buyer of Gazflot. Rottenberg already in 2010 acquired the Gazprom Burenie (“Gazprom Drilling”) company for 4 billion RUB. Gazflot will be the perfect complementary match for Rottenberg, analysts say. [link to barentsobserver.com] |
Anonymous Coward (OP) User ID: 68801366 Romania 07/31/2015 09:13 AM Report Abusive Post Report Copyright Violation | |
TheToolMan
User ID: 48782165 United States 07/31/2015 09:14 AM Report Abusive Post Report Copyright Violation | |
hIndsIght2020
User ID: 61828182 United States 07/31/2015 09:16 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 68936383 United States 07/31/2015 09:17 AM Report Abusive Post Report Copyright Violation | |
Carimbo Hanky
User ID: 69920519 United States 07/31/2015 09:18 AM Report Abusive Post Report Copyright Violation | where i live it takes so long for the drop to reflect on the pump.. its between $2.90 and $2.76 Regular, premium still $3.60 the electric bill dropped $22 tho ...if injustice, is of such a nature that it requires you to be the agent of injustice to another, then, I say, break the law. Let your life be a counter friction to stop the machine. -Henry David Thoreau |
TheToolMan
User ID: 48782165 United States 07/31/2015 09:18 AM Report Abusive Post Report Copyright Violation | I don't get why with these low oil prices the final price at the pump is still so high. Doesn't seem fair to me at all.. Quoting: Anonymous Coward 68936383 Refining strikes and capacity. Separate process. Plus, states have been upping taxes per gallon. Here in Washington state they added .12 cents last month "My mom said the only reason men are alive is for lawn care and vehicle maintenance." |
Anonymous Coward User ID: 66199317 United States 07/31/2015 09:23 AM Report Abusive Post Report Copyright Violation | |
TheToolMan
User ID: 48782165 United States 07/31/2015 09:28 AM Report Abusive Post Report Copyright Violation | Those gas taxes are going to be real lovely when the price starts rising again. However, I am in favor of gas taxes in general to help fund roads. Its a usage tax so im generally in favor of it. Quoting: Anonymous Coward 66199317 Roads are what the previous taxes were suppose to pay for... These taxes are just for pensions "My mom said the only reason men are alive is for lawn care and vehicle maintenance." |
Anonymous Coward User ID: 50563037 United States 07/31/2015 09:32 AM Report Abusive Post Report Copyright Violation | |
TheToolMan
User ID: 48782165 United States 07/31/2015 09:35 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 69920705 Romania 07/31/2015 09:45 AM Report Abusive Post Report Copyright Violation | After Russian missiles will destroy the nuclear power plants and coal power plants from EU and US, there will be a huge demand of oil and gas. Thread: Putin activated Tesla shield over Russia. Nuclear first strike a possibility Thread: Russia penetrates U.S. 16 times in 10 days Thread: Russia to increase 'patrols' over Gulf of Mexico with nuclear-capable bombers Thread: Chief of U.S. ICBMs and nuclear bombers: "Some of Russia's recent actions haven’t been made since Nazis" |
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babycakes
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