I do not know whether 100 $ will cross or not. It is known to OPEC countries. What there plan? Whether 100 $ or 140$? However, it is clear that they will not sell at lower price. Oil discoveries and oil exploration are very difficult and costly. So why anybody will sell at lower price?
9.25 PM Feb 22nd
Crude oil price is at near 57 $. OPEC has further planned for other countries to join production cut. It is expected that due efforts by OPEC, crude oil price may cross 100 $. Even US will get benefit due to crude oil price rise. So US want crude oil price high. US can also participate
10.07 AM Feb 22nd
If you track oil in the last few weeks, it is struggling to go above 56 - 57 levels inspite of the extreme bullish rhetoric from OPEC....Every $ rise for oil is now becoming more and more difficult to sustain in the face of resurgent shale...So, it is a very slow grind higher (which I anyway doubt
8.58 PM Feb 21st
The resurgence of U.S. shale will undermine the OPEC-fueled price rally, capping oil prices at roughly $50 per barrel through 2017. That is the conclusion from the EIA`s latest Short-Term Energy Outlook, which forecasts WTI to average $50.66 per barrel and Brent to average just $51.66 per barrel
2.21 PM Feb 20th
Yes looks pretty good for a breakout now. 3 month consolidation in the range 54-57$. Needs some trigger from OPEC or China demand, which are already giving good signs. Fwd looking contracts data in shipping/container suggests that demand is likely to go up strongly by June, more supply
12.34 PM Feb 20th
for oil made U.S. oil companies better. The cost of producing shale has been cut in half in the last two years. Now, U.S. oil companies can offset nearly half of OPEC production cuts, and do so at a nice profit margin. Where three years ago, it cost ~$60 to produce a barrel of Bakken oil that would sell
12.06 PM Feb 20th
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