Thank you Russia and Saudi Arabia

[Brunolem]

Today I went to fill up my car's tank with E20 and was surprised to see that the price per liter was 17.5 baht (in far away Sisaket).

 

This reminded me of the past, at the turn of the century, when I was paying between 13 and 14 baht, for diesel at that time.

 

A number of analysts think that the oil price could go down much further...unfortunately I don't have a strategic reserve to fill up...

[bkk6060]

Good time to consider oil futures investing.

The price will be manipulated higher at some point always is.

[Lacessit]

Why would you thank them? It's kicked the sharemarkets worldwide into freefall.

[poohy]

7 minutes ago, bkk6060 said:

Good time to consider oil futures investing.

The price will be manipulated higher at some point always is.

Not a good time for people holding oil shares plus its b*******ed most of the world markets up as well

[Brunolem]

34 minutes ago, Lacessit said:

Why would you thank them? It's kicked the sharemarkets worldwide into freefall.

It has sent the shares of the fossil fuel corporations into freefall, not the shares of those who need oil to run their business, like the airlines...for the latter the virus is responsible of the freefall.

 

[Lacessit]

2 minutes ago, Brunolem said:

It has sent the shares of the fossil fuel corporations into freefall, not the shares of those who need oil to run their business, like the airlines...for the latter the virus is responsible of the freefall.

 

True. However, there is a condition you should be familiar with - synergy.

[Puchaiyank]

It is a double-edged sword...once the price gets low enough to run many oil companies out of business, they will cut production and the price of oil will once again surge past $60 per barrel... 

 

Enjoy the low prices while you can!

[Lacessit]

6 hours ago, Puchaiyank said:

It is a double-edged sword...once the price gets low enough to run many oil companies out of business, they will cut production and the price of oil will once again surge past $60 per barrel... 

 

Enjoy the low prices while you can!

It's very probable American shale oil producers will be first in line...

[geriatrickid]

8 minutes ago, Lacessit said:

It's very probable American shale oil producers will be first in line...

And the Canadian oil industry. 

Who benefits? Countries who are not supporters or friends of the USA.

Russia and  the Gulf states have used their oil to have their way politically. When the USA became energy independent, and when Canada became an oil power they lost their influence.

 

I find it  incredible that the most vocal of US nationalists  have no worry about returning to the  blackmail of Russia and the Middle East.  These are the same people who didn't care when they lost their pharmaceutical and medical equipment  production to China.

[Kadilo]

14 hours ago, Lacessit said:

Why would you thank them? It's kicked the sharemarkets worldwide into freefall.

Yeah but he’s saved tuppence

[tonray]

14 hours ago, Lacessit said:

Why would you thank them? It's kicked the sharemarkets worldwide into freefall.

He saved 150 baht on filling the tank and lost 2,000,000 in his portfolio...Thanks...

[Brunolem]

1 hour ago, geriatrickid said:

 

I find it  incredible that the most vocal of US nationalists  have no worry about returning to the  blackmail of Russia and the Middle East.  These are the same people who didn't care when they lost their pharmaceutical and medical equipment  production to China.

They didn't lose anything to China, they voluntarily transfered production to China to take advantage of slave work, and increase their own remunaration.

 

They are traitors and should be delt with accordingly...but unfortunately it won't happen, on the contrary, they will be bailed out one more time...

 

[Brunolem]

1 hour ago, tonray said:

He saved 150 baht on filling the tank and lost 2,000,000 in his portfolio...Thanks...

"He" is indeed saving money on filling his tank, and "he" was careful enough to not have one baht invested in the financial markets that "he" expected to tank with or without the intervention of a virus.

 

[NanLaew]

On 3/24/2020 at 7:28 AM, Lacessit said:

It's very probable American shale oil producers will be first in line...

They've been on life support for the best part of a year already.

 

Putin's failed gamble with OPEC will see $10 bbl oil by mid-summer.