Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Carnival Rides
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeFri May 10, 2024 5:03 pm by kenlej

» Go Russia
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeSun May 05, 2024 11:37 am by kenlej

» Go Russia
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeSun May 05, 2024 10:51 am by kenlej

» Textbook Tony
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeMon Apr 29, 2024 4:13 pm by Mission1st

» The Rockefellers and the controllers are freaking out right about now
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeFri Apr 26, 2024 11:16 am by kenlej

» Phony Tony sez: Full Steam Ahead!
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeSat Apr 13, 2024 11:51 am by Mission1st

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeSat Apr 13, 2024 11:45 am by Mission1st

» Russia aren't taking any prisoners
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeFri Apr 05, 2024 6:48 pm by kenlej

» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeWed Mar 27, 2024 6:02 am by Ditartyn

» ZIGPLACE
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020

Go down

"CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020 Empty "CURRENT CHAOS IN OIL MARKETS"BY OKIEOILMAN, MARCH 21 2020

Post by Ponee Tue Apr 21, 2020 9:38 pm

GOOD DAY AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIENDS AND TELEGRAM NEIGHBORS.

I HAVE BEEN IN THE OIL PATCH 43 YEARS MOSTLY IN MINERAL ACQUISITION, CONSULTING AND LEASING. I HAVE BEEN ASKED TO TRY TO EXPLAIN WHAT THE CURRENT CHAOS IN THE OIL MARKET IS.

THE OIL MARKET IS AND HAS ALWAYS BEEN DETERMINED BY THE LAW OF SUPPLY AND DEMAND. THIS HAS ALWAYS BEEN THE DETERMINING FACTOR.

WE NOW FIND A SITUATION COMPLETELY DIFFERENT THAN ANYTIME IN THE PAST MARKET. BECAUSE OF THE OVERSUPPLY OF OIL THE PRICE CRASH HAS TAKEN PLACE.

THE CONTRIBUTING FACTOR WAS THE OIL PRICE WAR BETWEEN SAUDI ARABIA AND RUSSIA EACH TRYING TO OBTAIN EACH OTHERS MARKETS. BY OVERPRODUCTION AS WELL AS THE REDUCED DEMAND CAUSED BY THE VIRUS THE OVERSUPPLY OCCURED.

SAUDI HAS AN ADVANTAGE BECAUSE OF THE COST OF PRODUCTION ONLY BEING $3.00 PER BARREL WHILE RUSSIA IS SPECULATED TO BE AROUND THE $20-25 DOLLAR RANGE.

INCIDENTIALLY THE USA 'S COST OF PRODUCTION IS IN THE $40-45 DOLLAR RANGE. DUE TO THE LACK OF DEMAND THE OIL SUPPLY DEPOSITORIES ARE FULL AND UNABLE TO TAKE ANY MORE OIL UNLESS THE USA TAKES ADVANTAGE TO REPLENISH THE STRATEGIC OIL RESERVE WHICH WOULD BE AN OPTIMUM TIME TO DO SO;

WE'LL SEE IF ANY OF OUR LEGISLATORS HAS ENOUGH GREY MATTER TO THINK ABOUT THAT.

THERE ARE TANKERS SITTING STATIC IN THE OCEAN FULL OF OIL AND NOWHERE TO GET RID OF IT AT.

THE MARKET IS NOW SHOWING FOR THE FIRST TIME IN HISTORY A NEGATIVE PRICE FOR OIL—-MEANING THOSE WITH THE OIL WILL HAVE TO PAY TO THE RECEIVER RATHER THAN THE OTHER WAY AROUND.

CUSHING, OKLAHOMA IS THE PIPELINE CROSSROADS OF AMERICA AND ALL STORAGE TANKS ARE FULL. WHILE IT WILL TAKE ECONOMIES GETTING BACK TO NORMAL AND CONSUMPTION INCREASING THE REAL POSSIBILITY IS FOR "CHEAP OIL" FOR SOMETIME NOW.

WATCH THE FORWARD CONTRACTS ON OIL TO BE AN INDICATOR WHEN PRICES WILL RESUME TO SOME NORMALCY.

WE'RE LUCKY —-WE HAVE PLENTY OF OIL IN THE GOOD OLE USA AND IT IS AFFORDABLE—-FOR THAT GIVE THANKS—-BLESSINGS——SHALOAM



04.21.2020

*****************
Ponee
Ponee
Admin
Admin

Posts : 38267
Join date : 2011-08-09

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum