Callon Petroleum (CPE)

[DragonBear]

OPEC is worried about U.S oil production

Meanwhile they pretend not to worry.

Worry? Us?

Sort of like a mugger offering you to take you on a tour of their neighborhood in the middle of a mugging. Assuring you it's safe to walk around.

Their line is they aren't worried because US frack oil production will be in decline starting in 2018. Uh huh.

These Chinese boys are very clever

Yep, they have been after S. American resources for the past decade. China is said to also have larger shale oil reserves than the US. But they seem to be having problems developing them. Mix in for extra flavoring is the idea if the export ban is lifted, US frac oil will find its way to China. The US needs Texas-Dakota to West Coast pipelines.

Today's award for most FUD goes to:

Oil could plummet to $35 a barrel next year if OPEC doesn't reach an agreement by the spring, oil price tracker Tom Kloza said Wednesday.

Pile on!