Oil Slick Stuff

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$2.22 Around here and I LIKE IT!!! Someone is trying to make the price go up, who would be doing that?
 
Here it is between $2.44 and $2.59 in my driving range from home to work. The lowest in the area is $2.34 and the highest is $2.73.
 
WORLD NEWS
JAN. 6, 2020 / 9:29 AM

Crude oil prices top $70 per barrel as Middle East tensions escalate

Jan. 6 (UPI) -- Crude oil futures topped $70 per barrel in early trading Monday amid rising tensions in Iraq and Iran following the killing of a top Iranian military commander in Baghdad.
Benchmark Brent crude futures reached $70.72 early in Monday's session, up 1.28 percent, before falling back below the $70 mark to $69.49.

https://www.upi.com/Top_News/World-...-Middle-East-tensions-escalate/1301578318513/
 
Gas was slowly falling around here and got down as low as $2.22 (within 3 miles of my house). The average around me was $2.34. So what happened yesterday??? Gas jumped up to $2.69. Of course I needed a fill up and was doing it on the way home from work. ;damnit
 
Almost all stations are at $2.999 per gallon here. Have been for months. Needed gas today, there is one Pilot station at $2.799 per. Let's see...10 mile round trip in the opposite direction I need to go x 10-11 gal every 3 months x aggravation and traffic=pay $2.999 .5 miles from home. Have I mentioned being retired is a good thing?
 
What Impact Would a Fed. Acreage Frack Ban Have?

What Impact Would a Fed. Acreage Frack Ban Have?
by Andreas Exarheas
|
Rigzone Staff
|
Friday, January 31, 2020



160946_582x327.png
Rystad Energy looks at the potential impact of a federal acreage fracking ban.

If fracking activity was to be eliminated on federal acreage, the result would be a widespread shift of capital from federal to private and state-owned acreage in a bid to replace lost oil volumes.
That’s what recent analysis conducted by Rystad Energy suggests, according to the company, which outlined that such a fracking ban would likely have little immediate impact on nationwide oil and gas production figures.
“Even in the long-term, the impact might be quite negligible as seen from the greater industry perspective,” Artem Abramov, head of shale research at Rystad Energy, said in a company statement.
Abramov added, however, that such a ban “could have stronger negative effects on one key shale producing region in particular – the New Mexico portion of the prolific Permian Delaware Basin”.
Oil production from federal lands surpassed one million barrels per day during the summer of 2019, doubling over the most recent two-year period, Rystad Energy revealed. New Mexico accounted for the largest share of oil production growth in 2018-2019, the company added. [more]

https://www.rigzone.com/news/what_i...ge_frack_ban_have-31-jan-2020-160946-article/
 
I heard this morning a report saying Chinese oil consumption was down 20% last week. They said they are holding ships at the Panama Canal bringing oil to China, and thinking about sneding them somewhere else, as Chinese demand is drying up due to Chinese virus lockdowns killing travel/movement.

If that hold, there is going to be a HUGE surplus of oil floating around the entire world.
 
James48843 said:
I heard this morning a report saying Chinese oil consumption was down 20% last week. They said they are holding ships at the Panama Canal bringing oil to China, and thinking about sneding them somewhere else, as Chinese demand is drying up due to Chinese virus lockdowns killing travel/movement.

If that hold, there is going to be a HUGE surplus of oil floating around the entire world.
Click to expand...
It won't rot! Glut!oilgusher.gif
 
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