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Thread: Overproduction will see oil drop to <$30 in 2020

  1. #21

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    Quote Originally Posted by DutchSilver View Post
    Oil down 15% since 03JAN2020.......WW3 needs to be started soon to get it up again.
    still require a 23$ or 43% drop away from 30$

  2. #22
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    Quote Originally Posted by yellowsnow View Post
    still require a 23$ or 43% drop away from 30$
    Just wait when FEV goes mainstream, even I do not think I will buy an oil burner after this car.
    Some economic collapse like 2008 is also just around the corner, maybe even induced by this virus scare, etc....Oil demand is NOT going to rise.

  3. #23
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    Quote Originally Posted by yellowsnow View Post
    still require a 23$ or 43% drop away from 30$
    $13 to go!

    The sandpeople are going crazy.

  4. #24

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    Quote Originally Posted by DutchSilver View Post
    $13 to go!

    The sandpeople are going crazy.
    maybe one more crack at killing off the shale oil.
    I'm surprised that it was Russia who didn't want to cooperate on production cut.

  5. #25
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    Quote Originally Posted by DutchSilver View Post
    $13 to go!

    The sandpeople are going crazy.
    Well...-gulp-... $3.5 to go to $30....oil down 19%... holy bleepp

  6. #26

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    Quote Originally Posted by DutchSilver View Post
    Well...-gulp-... $3.5 to go to $30....oil down 19%... holy bleepp
    Kids RESP headed into oil if she cracks under $30....have had it sitting in limbo for 6 months waiting for something to become real cheap. Last time it was locked in, oil was .... $30...made him a good return on that one
    One in a million...GNR ...sums it up nicely

  7. #27

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    Quote Originally Posted by DutchSilver View Post
    Well...-gulp-... $3.5 to go to $30....oil down 19%... holy bleepp
    congrats, I have to say your call was the right one.
    Probably the biggest 1 day drop in oil price ever.
    the covid19 had really screwed up many predictions
    definitely a black swan event.

  8. #28

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    Quote Originally Posted by yellowsnow View Post
    congrats, I have to say your call was the right one.
    Probably the biggest 1 day drop in oil price ever.
    the covid19 had really screwed up many predictions
    definitely a black swan event.
    you just see to it you are not walking in the shadowside of the inverted financial pyramid when she collapses and the blocks fall apart.

    The FED can print money and buy everything and the fed owners are some big banks not the government nor the " people", try to understand what the game looks like.

    Golditiki2+++

  9. #29
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    Quote Originally Posted by yellowsnow View Post
    congrats, I have to say your call was the right one.
    Probably the biggest 1 day drop in oil price ever.
    the covid19 had really screwed up many predictions
    definitely a black swan event.
    "Thanks", I did not trade on it by the way...I somehow despise shorting.
    Hope you didn't get burned by this.

  10. #30

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    I have to say, I thought larger producers would want stable oil prices vs. dumping and sending price down. You know they'll be meeting again to try to find a way to recover what they did.

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