Replies to post #14613 on The Rising Influence of Rising Affluence

[biotech_researcher]

Oil price forecasts all over the map- I expect you could trade this based on the last paragraph of the Forbes article:

"According to oil services company Baker Hughes, the number of non-U.S. oil rigs has risen by just 29 since hitting an 11-year low of 666 in November last year, compared with a rise of 346 in U.S. rigs in just 10 months."

The rest of the world hasn't ramped up yet, but I expect they certainly will very soon..

[DewDiligence]

Oil price sinks on shale output:

http://www.reuters.com/article/us-global-oil-idUSKBN17K046

Oil prices hit their lowest in 11 days on Tuesday on news that U.S. shale oil output in May is expected to post the biggest monthly increase in more than two years, fuelling concerns that U.S. production growth is undermining efforts to cut oversupply.

U.S. government drilling data showed shale production next month was set to rise to 5.19 million barrels per day (bpd), with output from the Permian play, the largest U.S. shale region, expected to reach a record 2.36 million bpd.

[DewDiligence]

Re: “OPEC fatigue”

https://www.wsj.com/articles/oil-futures-fall-ahead-of-eia-report-as-opec-fatigue-lingers-1498042903

…some analysts say investors are suffering from OPEC fatigue and are no longer responding to positive market signals.

LOL. In other words, some analysts have no idea where oil prices are going, which is something everyone on this board should have known already.