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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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18154977 No.18154977 [Reply] [Original]

HOLY SHIT THEY ARE GONNA PUMP THE OIL UP BEFORE FUTURES OPEN.
>ITS HAPPENING
Imagine doubting the crude god

>> No.18155082

>>18154977
saudis. need to be wiped off the map, along with our greatest ally

>> No.18155259

Saudis are our greatest ally

>> No.18155294

>>18154977
even if they got a good target it wouldnt do much supply is too oversaturated, even the Africans can pump oil now

>> No.18155804

>>18154977
Just read a report earlier that said that Saudis could literally produce negative cost oil for months and it wouldn't effect them. No other country could last very long if the price war goes that far.

>> No.18155957

>>18155804

LOL I hope they do. Will put my entire paycheck into oil and become a millionaire.

>> No.18156022

>>18155804
the main problem Saudi Arabia face is that the government budget is their oil revenue, and as any self-respecting nation on this planet, they spend more money than they gain, so when their revenue tank they have to either cut spending, take out loans, or sell off other assets they have.

>> No.18156177

>>18154977
What does this have to do with them pumping more oil? I'd anything futures is up because a war is bad for the production of oil

>> No.18156345

man, the iranians are fucking retarded. they should drop real fucking bombs instead of having someone else throw some useless crap on saudi arabia

>> No.18156466

>>18156177
That's what he's talking about, war acts pumping he price of of oil up.

>> No.18156753

>>18156345
Iran would get raped in a slugfest with the Saudis. Their military is NOT prepared to travel across the desert to try and hit anyone, it's overwhelmingly defensively postured.

>> No.18156883

>>18156753
well then, they should build a cheap nuke with powerful lasers or some shit, no?

>> No.18156920

>>18156883
Camels with lasers won't work because they're too sexy.

>> No.18156949

>>18156883
Nukes are difficult to build and are more useful when not being fired, because of the threat. And if Iran nukes Saudi Arabia, there's always a fear that the Saudis might just be able to buy a retaliatory nuke from Pakistan, who's both close to the Saudis and also hates Iran.

>> No.18156963

>>18156949
>might just be able to buy a retaliatory nuke from Pakistan, who's both close to the Saudis and also hates Iran.
huh, I didn't know about that. interesting. would india get involved somehow?

>> No.18156994

>>18156963
I mean, maybe but anything west of Afghanistan is not really in their wheelhouse. Pakistan has more than one nuclear weapon, too.

>> No.18157004

nothingburger, not even on front page of cnbc. If Iran starts taking out saudi oil processing facilities then we'll start seeing some price movement.

>> No.18157012

>>18154977

Lol hardly, a few missiles won't put crude up idiot. It'd have to be a full on war, the russians saudis and africans are pumping oil at full steam. Fuck off with your falseflag.

Also oil refineries are shutting down all over america as we speak and oil storage is almost full, praise be to overproduction.

>> No.18157062

>>18156466
This won't have a significant effect on crude price. Even when they were in an actual war with Yemen crude didn't pump.

>> No.18157088

>>18154977
i fucking hope not i was hoping it would drop to 25 aggghhhhhhh oil bro with a 100 shares in exxxon i wasnt ready for an attack yet fuggggg

>> No.18157098

>>18154977
How would this pump the price?

>> No.18157102

>>18154977
Just let the sand niggers kill each other

>> No.18157111

>>18157098
It won't

>> No.18157142

>>18156022
Plus factor in the Oil gibs that they have to use to bribe the princes to prevent them from overthrowing the House of Saud. Its a gamble if they can't keep them on the welfare pump.

>> No.18157155

>>18156345
They did tho with successful attack in past months.

>> No.18157548

>>18157155
sauce?

>> No.18157563

>>18157548
https://www.npr.org/2019/09/19/762065119/what-we-know-about-the-attack-on-saudi-oil-facilities

>> No.18157600

i heard this fringe theory that oil is quite abundant because somehow the earth makes more of it from all the layers of dead organic matter still in the crust. the earth is active, even though we have experienced a stable period. for example, this happened last year:
https://abc7.com/tar-oozes-on-to-sidewalk-street-near-la-brea-tar-pits/5338893/

biggest regret in my life is not going into the geological science field. so many opportunities. there's still oil near beaches of undeveloped countries. there's probably oil on the vietnam coast but they lack the will, smarts and tech to set up drilling rigs.

>> No.18157896

>>18157600

You need carbon and hydrogen, in a high temperature and pressure place to make oil. The interface between Earth's crust and mantle is both highly pressurized and extremely hot; it's not impossible that such a process could produce oil.

>> No.18157935

>>18157896
SHUT UP NERD

>> No.18158006

>>18157935
>>18157896
haha ya fkin nerd

>> No.18158237

*buys 2021 USO calls*

>> No.18158281

how is buying futures different from buying calls?

>> No.18158301

>>18158281
futures trading is for protoboomers

>> No.18158385

>>18157600
Oil actually requires some very specific conditions to form. Basically algae need to die and settle in an oxygen-free silt, usually at the bottom of the ocean. They then need to be buried without being introduced to oxygen, and anoxic bacteria will decompose them into smaller organic molecules. Then, as the earth they are in sinks deeper into the crust, heat rises. Oil needs to cook at a relatively narrow range (90°C-160°C) and for a very long time (10s of millions of years). And don't even get my started on the various oil traps and impervious vs permeable rock that shit is just a headache. Just know that oil is relatively hard to form, but over millions of years and gigatons of dead organisms we have accumulated a lot of oil
t. geology student

>> No.18158404

>>18158385
t. faggot

>> No.18158417

>>18154977
implying launching missiles is anything new to middle east

>> No.18158421

>>18154977
>Imagine not going deep in oil and airlines
>I'm going to invest in overpriced Tech and stores like Macys and GameStop
Are non-jews just all retarded? Do you all have shit instead of brains?

>> No.18158443

>>18158417
I'd imagine thats how they diplomatically say hello.

>> No.18158448

>>18158385
What do you think about abiotic genesis of oil?
After all natural gas hydrocarbon is formed abiotically, why can't oil form like that as well?

>> No.18158459

>>18158385
t. R*ddit

>> No.18158569

>>18157600
>>18157896
based.

>>18157935
>>18158006
waste

>> No.18158573

>>18158281
buying options gives you "free" leverage

>> No.18158627
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18158627

God I always find you oil chads insightful, much more than the crackhead energy seen on SMG generally.

>> No.18158670

>>18158573
so futures give you the privilege of owning some asset at a later date but you pay the "futures" price today instead of whatever the price will be at that date?

>> No.18158844

>>18158670
It’s literally just a contract that you are agreeing to honor in the future. For example: I will purschas 1000 barrels of crude valued @ $20 for crude a month from now. If it goes up I make profit, if it goes down I lose money.

>> No.18159085

>>18156753
>not prepared to travel across the desert
Yet they had a 9 year war with Iraq mostly in the barren desert-like area

>> No.18159263

then how does that differ from a call @ $20 with a month expiration? The fact that one is optional and the other isn't?

>> No.18159535

>>18154977
> oil
> 2020

woops.

CKB will be the oil of the asian crypto economy, backed by huobi. june. don't fuck up.

>> No.18160740

>>18159263
One is a physical asset, the other is stock.

>> No.18161693

Who is betting on some "accident" on oil storage?

>> No.18161726

>>18158404
t. retard

>> No.18161799

>>18159535
CKB is unironically the new ETH, the market just doesn't know it yet

>> No.18162132

>>18158281
Futures can bring your account into the negatives if your broker doesn't margin can you. Options can only lose you what you invested.

>> No.18162421

>>18157098
if it does, best opportunity to short it / buy puts again

>> No.18162428

>>18155082
The Canadians?

>> No.18162502

>>18157004
This. A rocket or two is a daily occurrence there. Oil is going to keep going down. Keep your powder dry and be ready to pounce when Saudi Arabia starts showing signs of stress. Will take a couple of months.

>> No.18162702

>>18157563
>npr
they can't admit houthis push their shit in

>> No.18163576

question: what about the companies with hands in domestic fracking? I usually see Saudis brought up a lot in oil threads like this, but no one seems to mention any producers within the states. Is it too expensive to produce?

>> No.18163611

>>18163576
Iirc anything below $40 per barrel is unprofitable for them. We're at half that now and going lower.

>> No.18163649
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18163649

>>18160740
thanks senpai

>> No.18163673

>>18163611
Would it be a good idea to buy up some of them anyway? It feels like these prices can't stay like this forever.

>> No.18164212

>>18163673
bump

>> No.18164324

>>18163576
Fracking is kill in the states right now. The goofy part though, is that everything companies learned about fracking will just let them jumpstart it more easily when prices go up again. Which they almost certainly will since no one is making money with prices this low. This is either some 6D chess or people are going to bankrupt themselves overproducing like this.

>> No.18164394

>>18164324
OPEC is over-producing to eliminate as much non-OPEC production as possible to permanently damage as many of the competing interests as they can to gain a stronger purchase in the market over the long term. They foresee oil demand tapering over the next 20 years, and they want to be the apex producer. Right now is a good time to do it.

If fracks start capping wells they're going to have to re-drill everything. Likewise with RU. Depending on the time of year RU wells can't be re-established due to permafrost. In the short that's just adaptive strategy, in the long run though a lot of the supporting industries will dry up, internal layoffs and etc... It's a crumbling effect, at the core, if companies are smart they'll be able to avoid defaulting though, and get a lot of assets at a good discount.

>> No.18164430

>>18164394
If there is money to be made, people will try again. Short term fracking will go belly up, but long term if its profitable, people will do it again. Just like the first time people started doing fracking. There is no way to kill this shit off permanently, and its goofy to try. This is a short term move thats not going to help in the long term.

>> No.18164433

>>18164324
>>18164394
Ty chads, really helpful

>> No.18164503
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18164503

>>18155804
>months

>> No.18164573

>>18156753
Are you retarded? The Saudi "military" is literally a bunch of rich, spoiled brats with expensive american toys. They only reason they survive is the US would start WWIII before allowing the saudi puppet regime die out along with the petrodollar. Without US backing all of the Saudi leadership would be hung within a day