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Not too worried until they figure out how to run/fuel planes, freight trains, ships, etc. On electricity or some other BS. What are they going to ship and tow all those electric cars with to the dealerships..electric 18 wheelers?? Electric barges??? lol. World will need oil for fuel for a very very long time. And people are only getting more impatient with there travel/commute times. I would say the future of personal vessels will populate more towards personal aircraft sooner/rather than electric vehicles...jmo. just saying there is more to transportation than just people that want to be more fuel efficient on their daily commutes. If I had to guess, I'd say 80% of people couldn't give 2 shits about fuel efficiency, at least not to the point of choosing an electric ride over something else. Look at how long they have had electric yard tools...people still generally prefer gas powered tools. Mostly because they are more powerful and last longer. Same with vehicles. Back to my original point. Go UWTI!
You do know...if the flake on the left was 9/16 the size of the right one it means oil only at $115.65+-
Yep. It is a NON renewable resource after all..learned that in about uh..early grade school.
LoL Priceless.
Hmmm..I wonder why pps an anything moves sells off so quickly when SUPPORT is broken...
Because it triggers a shot load of automatic stop losses....
Hmmm... I wonder why pps jumps when RESISTANCE is broken..
Because it triggers buy orders...
Hmmm I wonder what RSI, Stohcs., and
other indicators are for...why do they
always seem to correct one way or the
other
Seems to me one could use this info to PREDICT the POSSIBLE and PROBABLE outcomes day to day..
Oil will rise. It is truly KING. Can't ride to town on a dollar bill...
$$$UWTI $$$$$$
Haha I guess these people fail to understand that anything that can be traded..well...is traded...by traders. And the daily trading is what makes a stock move..buying and selling. And traders use support and resist. Points and every other kind of TA factors to decide on their entry and exit points...so YES..charting does work just as effectively one these as they do with stocks..all about trader psychology.
Personal mental block with #shares I get for the price...And just having fun playing uwti. Haven't been in the short game very long so it's good practice here ha.
noone throw rocks but i was short @3.30 and covered at 3.10. i previously bought 2.95's and sold 3.16s. i love the intraday and multiday swings in this. $$$ everywhere!!
there went another 4.5MM at 3.11??
anyone else see that 1MM shares sold at 3.11??
So slick those Saudis are...
OPEC's February oil supply hits lowest since June on Iraq-survey
By Alex Lawler
LONDON | Fri Feb 27, 2015 6:58pm EST
LONDON (Reuters) - OPEC's oil supply has fallen this month as bad weather delayed exports from Iraq's southern ports, a Reuters survey found on Friday, slowing an expansion of supplies in the group's second-largest producer.
The survey also found slightly higher output in Saudi Arabia, a sign that the largest producer in the Organization of the Petroleum Exporting Countries is sticking to its strategy of focusing on market share rather than cutting output.
Still, actual OPEC supply has fallen in February to 29.92 million barrels per day (bpd) from a revised 30.27 million bpd in January, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.
The main reasons for the decline are involuntary - poor weather slowing Iraq's exports and unrest in Libya. OPEC at a meeting in November decided to retain its output target of 30 million bpd, despite collapsing prices and concerns from members such as Iran and Venezuela about falling oil revenue.
"There might not be an OPEC cut, but there is a supply cut from the south of Iraq," said Olivier Jakob, oil analyst at Petromatrix in Zug, Switzerland.
The largest reduction has come from Iraq, where southern oil exports slipped further from December's record high due to bad weather delaying the loading and departure of tankers, according to shipping data and industry sources. Northern exports increased slightly.
With one more day left in February, the total could be revised. If it remains at 29.92 million bpd, February's supply would be OPEC's lowest since June, based on Reuters surveys.
Iraq's southern exports declined to 2.05 million bpd, from 2.39 million bpd in January, the survey found. Exports from northern Iraq, comprising volumes of Iraq's State Oil Marketing Organization and the Kurdistan Regional Government, have risen by 50,000 bpd, sources said.
The southern decline is unlikely to be permanent as Iraq presses on with an expansion of its oil capacity. Exports are likely to hit new records in coming months, technical problems and weather delays permitting.
OPEC's other country with a notable decline in output this month is Libya, where ports and oilfields have been shut due to fighting and supply fell further in February to average 270,000 bpd, the survey found.
There was little change in output in Kuwait and the United Arab Emirates.
Elsewhere in OPEC, Angola lifted supply slightly in February, the survey found, partly due to a new crude stream, Sangos. The other West African OPEC member, Nigeria, exported less due to fewer shipments of its largest stream, Qua Iboe.
hell, I have even been guilty of it.
this is exactly an example and reason why stock prices become oversold/overbought in some scenarios and prices are temporarily influenced by irrelevant news or data. a gross misunderstanding by some traders that do not fully understand what they are invested in. and for the record i am not talking trash or trying to be mean. just is what it is.
Ie:I have a couple of Wells in new Mexico that were drilled in march and summer months that are still not completed and in production.
Rigs don't pump oil. Rigs simply drill the wells. Which is why the rig count, when it comes down to reality doesn't truly affect the price and like I said in a previous post, doesn't immediately change production decrease. Just because wells are drilled doesn't mean they have to complete the well immediately and produce it. They can drill and leave uncompleted and offline for periods of time, determined by the oil lease itself.
What other person? Me? I am not confused. I believe everyone is reading "lower rig count" in various lights.
There you go. Apologies for the misread.
Lower rig count simply means less rigs operating = less new wells being drilled= less new production coming online = eventual, not immediate,decline in supplies.
I think, with all due respect, you may be a bit confused about how things works. The statement you made makes no sense. Just trying to keep things straight here for folks who might buy in to such statements.
I should know, I'm in the business. Oil that is.
To add to my post, increasing the refining only increases the amount of stored oil coming out of storage.
Increase oil refining is not the same as increase oil production. Their announcement of increase refining cor relates directly to two of the previous announcements being their outlook of oil demand starting to grow and growing limited storage due to increased oil supply. The only thing this changes is more gasoline/fuel supplies.... (probably to support the growing demand of fuel since gas is still relatively cheap.) IMO.
When's the next pick? Wed.?
<--NTEK--> the reversal is IN! UPTREND. NEW CUTTING EDGE PRODUCTS IN RETAIL STORES! NTEK CLIMBING THE BREAKOUT BOARD RANKS!!
Tomorrow we BLOW THROUGH THE .008s!!! $$<--OPIX-->$$
Wtf is up with these large blocks getting thrown up every time we build buying pressure. This is ridiculous.
Not really sure
Who is the idiot on the ask?? Come one people. This will hit a penny if jackasses wouldn't block the ask like this.
Keep the MOMO going guys. Lighten up those sells.
Who keeps whacking. Shit.
Here's the dip. Get it before we move to new hod
Good Morning OPIX board. Ready to see what we do here today.
Hey BIG! Gonna be fun tomorrow here at OPIX!
Hello LC! Can't wait to join in on opix fun in the morning!
Hey Duke!
Looks like OPIX Is primed for a great run tomorrow.
Can't wait.
There are some nice bids being flashed around here! Lets move this thing!
ITMV)))NICE BIG BIDS COMING IN! SUPER THIN LOW FLOATER!
ITMV---->>HUGE BID SUPPORT--->>
ITMV-->> NOT TO MENTION THE NICE AND GROWING BID SUPPORT!
Hey LC! ITMV #3??? WOW!
This may POP soon.
Anyone else see the growing bid support?