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$100 Oil Is A Distinct Possibility
Oilprice.com ^ | 09-25-2018 | Nick

Posted on 09/25/2018 9:46:47 AM PDT by bananaman22

An oil price spike is starting to look increasingly possible, with a rerun of 2008 not entirely out of the question, according to a new report.

The outages from Iran are worse than most analysts expected, and bottlenecks in the U.S. shale patch could prevent non-OPEC supply from plugging the gap. To top it off, new regulations from the International Maritime Organization set to take effect in 2020 could significantly tighten supplies.

Put it all together, and “the likelihood of an oil spike and crash scenario akin to the one observed in 2008 has increased,” Bank of America Merrill Lynch wrote in a note. BofAML has a price target for Brent at $95 per barrel by the end of the second quarter 2019. In 2008, Brent spiked to nearly $150 per barrel.

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy; Politics
KEYWORDS: oil; oilprices; opec; trump
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1 posted on 09/25/2018 9:46:47 AM PDT by bananaman22
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To: bananaman22

Nobody really knows where the price of oil is going but when the financial talking heads were hyperventilating and predicting a severe drop it was time to load up. As Buffet says: “Be greedy when others are fearful.”


2 posted on 09/25/2018 9:50:32 AM PDT by Starboard
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To: bananaman22

Sounds like peak oil thinking to me. The only way for oil to get that high here is for government to limit US output.


3 posted on 09/25/2018 9:50:37 AM PDT by mountainlion (Live well for those that did not make it back.)
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To: bananaman22

Sure it is...
So is a meteor strike or a solar flare strike.


4 posted on 09/25/2018 10:08:07 AM PDT by cuban leaf
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To: bananaman22

What happened to the expansion of Alaska north slope that Trump opened up?


5 posted on 09/25/2018 10:09:44 AM PDT by cicero2k
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To: bananaman22

Oil prices go up because of the election. The globalists always pull this stunt as they are all anti Trump/anti naionalists.


6 posted on 09/25/2018 10:11:40 AM PDT by central_va (I won't be reconstructed and I do not give a damn)
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To: cicero2k
I think it takes a long time for new Alaskan oil to come on line

shortened drilling season and remote access

7 posted on 09/25/2018 10:12:21 AM PDT by spokeshave2 (TrumpÂ’s building an underground railroad - a way off the plantation to freedom, jobs, and dignity)
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To: bananaman22

$100 bbl oil is a remote possibility. Any production from Iran and Venezuela that has been take off line will be more than made up by increased US oil production. The claims that our pipelines can’t handle the problem is telling....that’s how strong production is right now. Pipelines, trucks and trains are a problem that WANTS to be solved, and in a free market it will get done.


8 posted on 09/25/2018 10:22:39 AM PDT by jdsteel (Americans are Dreamers too!!)
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To: spokeshave2

Exactly. I’d also like to see a gas pipeline to release all the natural gas that’s been re-injected for the last 30-40 years.


9 posted on 09/25/2018 10:23:52 AM PDT by RGF
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To: bananaman22

$50, $60, $70 are all possibilities too. Since they’re all possible, the author of the article has told us nothing.


10 posted on 09/25/2018 10:34:12 AM PDT by I want the USA back (Cynicism is the only refuge in a world that is determined to eliminate itself.)
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To: jdsteel

If you have a CDL and live in the rust belt or have a job with a trucking company that pays crap, buy yourself a RV and head for West Texas or SE New Mexico. You can make $$$ for a few years until pipeline capacity catches up with demand. Even then there will be a need for truckers to provide supplies for new drilling and to move newly recovered oil to a pipeline loading location.


11 posted on 09/25/2018 10:35:57 AM PDT by CedarDave (Chrissy Blasey Ford and Stormy Daniels are planning a tour and calling it the "Nuts & Sluts Tour.")
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To: mountainlion

“....government to limit US output.”

And open up ANWAR. We only get three percent of our oil anyway from the middle east based on the UN’s oil for food program. Raise the price, eat your oil. It’s called a free market. And we are free of you if you start anything you can’t get down your palate.

rwood


12 posted on 09/25/2018 10:57:33 AM PDT by Redwood71
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To: bananaman22


13 posted on 09/25/2018 11:02:06 AM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
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To: Starboard

This reminds me of the daily commercials on Fox News stating “If Silver returns to its all time high.............”


14 posted on 09/25/2018 11:26:24 AM PDT by woodbutcher1963
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To: CedarDave

Absolutely true. Good money to be had for people willing to work.


15 posted on 09/25/2018 12:22:02 PM PDT by jdsteel (Americans are Dreamers too!!)
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To: CedarDave

They need any pipe fitters???


16 posted on 09/25/2018 2:07:11 PM PDT by Keyhopper (Indians had bad immigration laws)
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To: Keyhopper

Most certainly. Get hold of Sunday editions of daily newspapers in Midland, Odessa TX, and Hobbs, Carlsbad NM

Lots of pipelines being laid for crude and natural gas transport to refineries and NG processing plants. Go to the Yellow Pages and look under Oil Field Services, Pipeline Companies, etc. The majors are building compressor stations to get gas to interstate gas pipelines. A bit of preparation and a visit to the area can get you started.


17 posted on 09/25/2018 2:27:03 PM PDT by CedarDave (Chrissy Blasey Ford and Stormy Daniels are planning a tour and calling it the "Nuts & Sluts Tour.")
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To: bananaman22

GOOD! Maybe it will make some of these mindless dolts stay home and think twice about running up and down the highway. One woman around here drives to the corner store at least 6 times a day and probably more than that.


18 posted on 09/25/2018 6:20:34 PM PDT by Sequoyah101 (It feels like we have exchanged our dreams for survival. We just have a few days that don't suck.)
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To: Keyhopper
They need any pipe fitters???

Are you joking

Apart for pipelines to support oil and gas drilling...there are $Billion capital investments in LNG liquefaction plants and huge plants to produce the raw materials for the plastics industry

LNG plant:


19 posted on 09/26/2018 7:22:44 AM PDT by spokeshave2 (TrumpÂ’s building an underground railroad - a way off the plantation to freedom, jobs, and dignity)
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To: Redwood71

https://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm

Refinrry utilization info. Latest up to June.

This is the problem.


20 posted on 09/26/2018 7:26:23 AM PDT by mewzilla (Has the FBI been spying on members of Congress?)
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