Oil plunging to unprecedented lows with more output cuts on the way


captain morgan
No Party Affiliation
+1
#121
Quote: Originally Posted by mentalfloss View Post

You oil peeps sure do looooove China these days

China Is Buying Up Canadian Crude Again
At least three tankers loaded with Canadian crude have headed to China since the start of the year, Bloomberg reports, citing shipping data. This is the latest sign of how the oil crisis is changing demand patterns.
The usual buyers of Canadian crude are U.S. refineries, but demand has been depressed in the United States. In China, however, it appears to be improving, benefiting the long-suffering Canadian oil industry. Oil sands producers had to shut in about 1 million bpd in oil production amid the latest price crisis, and the survival of some is questionable.

https://oilprice.com/Latest-Energy-N...ude-Again.html


Only 3 tankers?


In a year or so, once TMX is operating at full capacity, there ought to be dozens of tankers in Vancouver harbour transporting lots an lots of crude oil to China and SE Asia.


... All made possible by Trudie buying the pipeline... Fun, right?


 
pgs
Free Thinker
+1
#122
Quote: Originally Posted by captain morgan View Post

Only 3 tankers?


In a year or so, once TMX is operating at full capacity, there ought to be dozens of tankers in Vancouver harbour transporting lots an lots of crude oil to China and SE Asia.


... All made possible by Trudie buying the pipeline... Fun, right?


Well he was ordered to by his bosses in Beijing.
 
Twin_Moose
Conservative
+1
#123
A good time to play with something like this

Here's our closest look yet at what looks to be the Ram Rebel TRX

Quote:

The Ram 1500 Rebel TRX is one of the most highly anticipated new vehicles right now. It's the supercharged V-8 Hellcat-engined pickup we've been asking Fiat Chrysler for years now, after all. This spy video, published by TFLnow on YouTube, is likely our best look at the upcoming super-truck yet...……...More with videos in article

.
 
spilledthebeer
+1
#124
Quote: Originally Posted by Twin_Moose View Post

A good time to play with something like this

Here's our closest look yet at what looks to be the Ram Rebel TRX

.




YES! Is it not strange that the number of pickup trucks and assorted SUV`s on the road continues to GROW!


In spite of LIE-beral whining about the "Climate Emergency"!


In related news -this post needs to be RE-NAMED!


Oil consumption rates AND PRICES are slowly RISING AGAIN as our economy slides gently back into awake and active status!
 
mentalfloss
#125
Quote: Originally Posted by captain morgan View Post

Only 3 tankers?
In a year or so, once TMX is operating at full capacity, there ought to be dozens of tankers in Vancouver harbour transporting lots an lots of crude oil to China and SE Asia.
... All made possible by Trudie buying the pipeline... Fun, right?


If you mean, they're a better trading partner than the US. Of course!
 
captain morgan
No Party Affiliation
+1
#126
No, I mean you have a larger customer base to service and besides, China LOVES oil - especially Cdn oil!
 
Twin_Moose
Conservative
+1
#127
China drives global oil demand recovery out of coronavirus collapse

Quote:

BEIJING/NEW YORK/TOKYO (Reuters) - China's oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns.
While China - the world's second-largest oil consumer - is the outlier for now, easing travel restrictions and stimulus packages aimed at resuscitating economies could accelerate global oil demand in the second half of 2020, industry executives said.
"The brisk resumption of Chinese oil demand, 90% of pre-COVID levels by the end of April and moving higher, is a welcome signpost for the global economy," said Jim Burkhard, vice president and head of oil markets at IHS Markit.
Widespread lockdowns to contain the spread of the virus took an especially heavy toll on oil markets, wiping roughly 70% off global prices by mid-April and leading to huge build-ups in oil and fuel inventories worldwide.
"When you consider that oil demand in China — the first country impacted by the virus — had fallen by more than 40% in February — the degree to which it is snapping back offers reason for some optimism about economic and demand recovery trends in other markets such as Europe and North America," said Burkhard.
Benchmark oil prices have also bounced back as lockdown measures eased, with Brent futures rallying 50% and U.S. crude futures over 90% since May 1.
While oil analysts agree that China's demand is rebounding, estimates differ in terms of degree and duration.
Wood Mackenzie expects China's oil consumption in the second half to grow 2.3% to 13.6 million barrels per day (bpd) from the same period last year, driven by increased transportation and industrial use.
"By the third quarter, China's gasoline demand would have surpassed the same period last year by 3% to 3.5 million bpd," the consultancy said, while diesel consumption could grow by 1.2% to 3.4 million bpd over the same period.
In contrast, the International Energy Agency (IEA) said in its May report that China's demand will fall 5% on year to 13.2 million bpd in the second half.
Even so, there is strong consensus that both gasoline and diesel use are expected to accelerate as more people and businesses boost movement.
"China has led the demand recovery path so far. Following this, other countries such South Korea, Australia and Vietnam where the (virus) cases are broadly under check will see an improvement in petroleum demand," FGE analyst Sri Paravaikkarasu said.
GLOBAL IMPACT
JBC Energy analyst Kostantsa Rangelova said Asia's total refined product demand could rise to 34.3 million bpd in the second half, up from 31.6 million bpd in the first six months, but still about 1.5 million bpd lower from the same period a year ago, mainly because of the decline in jet fuel demand.
In India, the world's No. 3 oil consumer, state refiners ramped up output in May as fuel sales recovered ahead of the lockdown lifting in June.
In Japan, the fourth largest oil user, gasoline demand is expected to contract by 10% in October to December, but rebound strongly from the 27% contraction seen in April to June, refiner Cosmo Energy Holdings said.
In the United States - the top oil producer and consumer - road fuel demand is expected to rise to 10.6 million bpd in the second half, according to Rystad Energy, 22% higher than the first half.
However, gasoline consumption will still be 5% down from 2019 on higher unemployment, reduced incomes and more people working from home, Rystad analyst Per Magnus Nysveen said.
More road trips this summer could give demand a significant near-term boost, however, said Patrick De Haan of U.S.-based consultancy GasBuddy.
"Depending on this consumer demand, if more people hit the road, refineries are well-positioned and will rise to meet the increase in demand and that may be a lifeline for them this summer,” he added.
Even so, some U.S. refiners are hesitant to dramatically boost output, remaining cautious on gasoline demand as they eye still-growing distillate inventories.
Cowen research's refining analyst Jason Gabelman estimates it will take two years for refining margins to rebound as the U.S economy recovers from the effects of the pandemic and subsequent stay-at-home orders.
Oil executives are also wary of fresh downturns in oil demand as countries slash economic growth forecasts and populations alter travel habits.
"For now, we don't know whether demand for gasoline and jet fuel will ever return to the levels before the pandemic," JXTG Holdings President Tsutomu Sugimori said at a May 20 briefing, adding that it was difficult to predict how consumers lifestyles would change.
People may prefer to continue working from home and going out as little as possible to avoid being infected, he added.

 
Twin_Moose
Conservative
+1
#128
What U.S. shale's woes mean for Canada's oil and gas industry

O&G prices to go up in Canada
 
captain morgan
No Party Affiliation
+1
#129
Yep.. Shale oil is really expensive to develop and has high rates of declines... Not great news for the Permian Basin, Bakken, etc
 
mentalfloss
#130
And it burns burns burns

Oil prices fall on doubts over output cuts, surging U.S. diesel inventories
https://business.financialpost.com/p...-inventories-2
 
pgs
Free Thinker
+1
#131
Quote: Originally Posted by mentalfloss View Post

And it burns burns burns

Oil prices fall on doubts over output cuts, surging U.S. diesel inventories
https://business.financialpost.com/p...-inventories-2

To go long or to go short ? This is the question , do you have the answer ?
 
pgs
Free Thinker
+1
#132
Quote: Originally Posted by pgs View Post

To go long or to go short ? This is the question , do you have the answer ?

Didnít think so .
 
captain morgan
No Party Affiliation
+1
#133
Quote: Originally Posted by mentalfloss View Post

And it burns burns burns

Oil prices fall on doubts over output cuts, surging U.S. diesel inventories
https://business.financialpost.com/p...-inventories-2


Oil is up today... Looks like you're wrong once again
 
Avro52
#134
Quote: Originally Posted by captain morgan View Post

Oil is up today... Looks like you're wrong once again

Cenovus is up again today.

What a steal.
 
captain morgan
No Party Affiliation
#135
There are a bunch of the bigs that are heavily undervalued right now... Good opportunity for a significant increase on a short term basis
 
Twin_Moose
Conservative
#136
Quote: Originally Posted by captain morgan View Post

Oil is up today... Looks like you're wrong once again

With the added Carbon tax regular gas is surging over $0.90
 
Hoid
#137
Quote: Originally Posted by Avro52 View Post

Cenovus is up again today.

What a steal.

But you have to sell it.

Damn
 
Avro52
#138
Quote: Originally Posted by Hoid View Post

But you have to sell it.
Damn

Thatís because I bought it.

What have you bought?
 
Hoid
#139
Quote: Originally Posted by Avro52 View Post

Thatís because I bought it.

What have you bought?

I bought the house I am sitting in right now in 1986...
 
captain morgan
No Party Affiliation
+1
#140
Quote: Originally Posted by Hoid View Post

But you have to sell it.

Damn


Cenovus pays dividends (yield 3.89%) and has positive EPS,


You get paid without selling
 
Avro52
#141
Quote: Originally Posted by Hoid View Post

I bought the house I am sitting in right now in 1986...

Got one of those too.
 
Hoid
#142
Quote: Originally Posted by Avro52 View Post

Thatís because I bought it.

What have you bought?

But but - Tesla stock is no good because you have to sell it?
 
Hoid
#143
Here you are talknig about Tesla and Tesla stock - apparently its no good because you have to sell it?

http://forums.canadiancontent.net/sh...68#post2850568

"Like I said.

Stocks go up and down.

You don’t make a dime off of Tesla stock unless you sell.

Should everyone sell?

Anyways, they don’t make shit cars like GM and I want one.

Tesla Model S Performance With The 'Cheetah Stance' Sets A New Quarter-Mile Record"


--------------------------------------------------------

So should everyone sell their Cenovus stock?
 
Avro52
+1
#144
Quote: Originally Posted by Hoid View Post

But but - Tesla stock is no good because you have to sell it?

Then buy it.

If Cenovus returns to its previous level do you have any idea how much money Iíll make?

Join the club.
 
Hoid
#145
Should everybody sell it?
 
Avro52
#146
Quote: Originally Posted by captain morgan View Post

Cenovus pays dividends (yield 3.89%) and has positive EPS,
You get paid without selling

They suspended the dividend.
 
Hoid
#147
You should probably have known that before you pretended to buy it.
 
Avro52
+1
#148
Quote: Originally Posted by Hoid View Post

Should everybody sell it?

The plan dear fello is to watch it grow, sell a portion to get the initial investment back and collect the dividend (when it returns) on the rest.

Whatís your plan?

.75% in a savings account?
 
Hoid
#149
Quote: Originally Posted by Avro52 View Post

The plan dear fello is to watch it grow, sell a portion to get the initial investment back and collect the dividend (when it returns) on the rest.

Whatís your plan?

.75% in a savings account?

But you don't make a dime off Tesla stock until you sell it.

And that's why you don't own Tesla.
 
Avro52
#150
Quote: Originally Posted by Hoid View Post

You should probably have known that before you pretended to buy it.

I knew before.

Will Tesla stock quadruple?
 

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