Eni warns oil may shoot up to $200 without Opec cuts {in 4~5 years}

BBC ^ | 21 January 2015 | BBC

[thackney]

OPEC has a bit more than 2 million BPD surplus capacity, most of that is in Saudi.

Of course trying to put more oil on the market today will just drive the price lower, a lot lower. Iraq claims they are doing it anyways.

[Zhang Fei]

OPEC has a bit more than 2 million BPD surplus capacity, most of that is in Saudi. Of course trying to put more oil on the market today will just drive the price lower, a lot lower. Iraq claims they are doing it anyways.

That's the way life works - everyone does what he has to do, because the bills keep piling up.

[navyguy]

Mmmm... I don’t think what I said was ignorant.

[Some Fat Guy in L.A.]

Why don’t they all just admit that they don’t have the foggiest idea what oil will cost next week, let alone in 5 years?

[thackney]

Sounds good. I’d like a discounted crew cab 3/4 ton 4WD to pull the horse trailer.

[thackney]

Because they wouldn’t get paid for the next analysts opinion if they did that.

[Smokin' Joe]

Actually, those on the payroll of most of the larger directional/MWD companies have to have a vehicle less than three years old. There are a few out there now, I’d wager, but they trade those in to dealers for newer ones.

[MrB]

My post was in support of yours, not calling you ignorant.

[navyguy]

Whew! Thanks! :-)