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And where is the rest of the list? OPEC is not just Saudi Arabia. It's like the whole middle east + a South American country or two.
 
:sick:10 U.S. shale-oil stocks getting crushed the most today

Published: Nov 28, 2014 10:44 a.m. ET

The decision by OPEC on Thursday not to cut oil production, despite a price decline of over 30% since June, means U.S. shale-oil producers may soon find business to be unprofitable.
Hydraulic fracturing is far more expensive than simply pumping from oil wells that tap into huge reserves close to the surface. That is why Saudi Arabia is perfectly willing to let oil prices fall even further as it defends its market share. That country has another clear advantage: The kingdom at any time can easily raise or lower its production.
For U.S.-shale companies, long-term expansion plans may have to be severely curtailed, especially if OPEC and major non-OPEC oil producers, including Mexico and Russia, continue on their current path.
The S&P 500 Index SPX, -0.15% was little changed Friday, but among 186 U.S. oil stocks with market values of more than $50 million, 56 were showing double-digit declines in early trading.
Here are the 10 U.S. shale-oil stocks with the largest drops Friday: [more]

10 U.S. shale-oil stocks getting crushed the most today - MarketWatch
 
Unfortunately for the US, that is one aspect of the economy that will suffer from lower oil prices....But they have been basking in record breaking profits for such a long time..they need to feel our pain some too from the past higher gasoline prices...tit for tat:cheesy:
 
bmneveu said:
Thanks nnuut. Top of page 43..

Non-OPEC oil avg for 2014 is 56mb/d, 12.6mb/d is from the US
OPEC oil avg is 30mb/day

Out of 86 million barrels a day, OPEC is producing 35% of the world's oil. Their biggest competitor is the US at 14.5%. So yes, OPEC produces vastly more oil than anyone else.
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Yep, you are correct, I was referring to the Saudi's who have the most influence on the vote and forced OPEC's hand on this one.......Apologies, Context.
 
Frixxxx said:
Yep, you are correct, I was referring to the Saudi's who have the most influence on the vote and forced OPEC's hand on this one.......Apologies, Context.
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Yes I know, since I read that report but a bunch is dedicated for use in specific places and Russia is a different story.
 
Diplomacy is tricky business. Oil at these levels makes strange bed partners. (Iran, Venezuela, Nigeria or any other OPEC Nation) I guess not so strange but some can absorb lower cost than others.


“I want to remind you that Russia is one of the most powerful nuclear nations,” Putin said. “This is a reality, not just words.”
 
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