crude oil down

Discussion in 'Markets & Economies' started by clear, Nov 27, 2014.

  1. clear

    clear Well-Known Member

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    $42.20 now
     
  2. clear

    clear Well-Known Member

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    $ 41.88 now, how much will it get smashed tonight.
     
  3. sterling-nz

    sterling-nz Well-Known Member

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    Tis wonderful to see.
    We get ZERO benefit at the pump here in NZ due to current NZD pricing , but nice to see that i have friends buying up oil and when it smashes out again i shall be in for some generous deals.
    I see JPM on here was predicting $30 and i scoffed him, if this continues i may have to unscoff, though $30 is a fair way off yet.
     
  4. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    If I could buy into the few oil companies that are still treading water at about $30-$35 I will
     
  5. SilverDJ

    SilverDJ Well-Known Member

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    But a bit riskier than buying the oil index though?
     
  6. kramer

    kramer Member

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    Im with jpm on this one. Sub 30 is very likely within 12 months. I think I'll take a solid position in ooo then.
     
  7. billybob888

    billybob888 Well-Known Member Silver Stacker

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    Sub 30? Wasnt oil over 30 a barel during the depth of the great recession
     
  8. kramer

    kramer Member

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    It probably wasn't being pumped out like crazy like today. Iran should add a million barrels a day soon and with countries like Venezuela which rely solely on oil exports feeling the pain of lower prices all they can do is pump more oil to try and make up lower prices. This seems like a self feeding death spiral which pushes prices lower. Until alot of the higher cost producers go broke (many are hedged so they won't go broke yet) we won't see a turn around in the price. So yes I think $30 oil is very likely short term.
     
  9. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    The Saudis would rather issue bonds to balance their budget than cut production and lose market share either to the US, Russia or Iran if the sanctions are lifted against them. It's a buyers market if you're an oil importer
     
  10. JDMseaweed

    JDMseaweed Member

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    crude is down, bt had to freakin pay $1.65 at Shell for 98
    they never pass it on to the end consumer. arrrgghhhh
    rant over
     
  11. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    The reason why you don't see a drop in price at the pump is the same reason why gold is still around $1500 AUD an ounce along with taxes on petrol
     
  12. sterling-nz

    sterling-nz Well-Known Member

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    A whole $1.68 you poor wee dear?
    For our 98 over here in NZ we are paying $2.10
    I know what you mean about NOT passing on the reduced cost's though.
    Even with the NZD well down against the USD we should still be down under the $2 mark (well under) if they were to pass any savings on to us.
    I hate to say it , but they are businesses and if they can extract those extra $$$$$'s from us then i guess they have every right too.
    I just wish they would not be so deceptive about it.
    If they want to get the extra $$$$$'s from us then FINE, but i get sick of hearing their BS stories about why they can't lower it.
    We are not all financial idiots.
     
  13. col0016

    col0016 Active Member

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    Most people are.
     
  14. billybob888

    billybob888 Well-Known Member Silver Stacker

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    Aud decline and increased petrol excise tax are significant but not enough to offset the dramatic fall in the price of crude oil, the operating margins have increased dramatically for the refinery and retail industries in Australia. Aka we r getting ripped off
     
  15. -j-p-shmorgan

    -j-p-shmorgan New Member

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    It's heading to test $30. And will probably go lower.
    Enjoy the cheap gas prices, but don't expect PM's to go to the moon with depressed oil prices.
     
  16. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    FUEL or PETROL prices is the correct terminology on an AUSTRALIAN forum
     
  17. col0016

    col0016 Active Member

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    God you're a wanker...
    Do me a favour and go to the AUSTRALIAN forum silverstackers.com.AU
     
  18. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    not as big a wanker as some on here ( you ) and smorgan.

    Lot of the pit calling the kettle black
     
  19. col0016

    col0016 Active Member

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    When was the last time you actually added anything of substance to a conversation?

    All you ever do is try to make yourself feel good at the expense of others. Who gives a shit if an American calls petrol 'gas'? Everybody knew what he was talking about. Please just leave.
     
  20. billybob888

    billybob888 Well-Known Member Silver Stacker

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