Oil 11 (Nov 17 - Jan 21)

Oil 11 (Nov 17 - Jan 21)

Postby winston » Mon Nov 13, 2017 10:17 am

Oil: 56.74, -0.43.

Oil Surged into Monday with a new breakout rally high, then tested laterally the rest of the week, waiting for the 10 day EMA to catch up to the move.

Source: Investment House
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Nov 20, 2017 11:35 am

Rosy Oil Forecasts

Oil prices have risen sharply in recent weeks, reaching two-year highs.

Unlike other rallies over the past three years, this time they're being lifted by a strong fundamental picture. For example, we're seeing:

1. Increased demand globally will provide upward pressure on oil prices. For the first time ever, oil consumption is expected to top 100 million barrels per day in 2018.

2. Inventory drawdowns. Recent U.S. Energy Department's inventory releases that show multiple weeks of strong inventory draws in the domestic crude stockpiles pointing to a slowdown in shale output. Decreased supply also pushes price higher.

3. Decreased Rig Count. Further evidence that American shale producers are slowing down.

4. OPEC cuts will almost certainly be extended. Oil-producers do not want to return to $30 oil. Reducing production ensures prices remain strong.

5. Strong economy=strong oil market. Positive third-quarter U.S. GDP data and earnings reports helped propel oil to recent highs. The strengthening economy and improved consumer sentiment bode well for oil prices.

Each of these signs point to sunny skies ahead for oil.

Source: Zack's
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Nov 20, 2017 1:04 pm

Oil: 56.71 +1.36.

After a 2 week test of the breakout of the range and move to a higher high, oil was up sharply Friday, bouncing off the 20 day EMA test.

Source: Investment House
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Fri Dec 01, 2017 8:21 am

Opec and Russia forge deal to extend crude output cuts through all of 2018

Opec also decided to cap the combined output of Nigeria and Libya at 2017 levels below 2.8 million bpd.

The next meeting is scheduled for June 21.

“In Iraq’s Kurdistan there is a major risk to oil exports because of tensions with Baghdad, in Libya militias are still fighting, in Nigeria the risks of disruptions are significant, Venezuela is on the verge of default, Iran could again face US financial sanctions and even in Saudi Arabia political risk is on the rise,”


Source: SCMP

http://www.scmp.com/business/global-eco ... ts-through
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Dec 11, 2017 6:31 pm

Is Oil About To Collapse?

by Martin Tillier

There is one dominant factor that keeps adding downward pressure, large and still growing supply from North American shale producers.


Source: Oilprice.com

https://finance.yahoo.com/news/oil-coll ... 00911.html
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Dec 11, 2017 7:03 pm

Trader who predicted oil under $30 says prices could rally to $100

By Sara Sjolin

Oil prices could top $80 next year, oil trader says

“Demand growth has rarely been this strong, global oil reserves peaked 30 years ago, new oil discoveries are at all-time lows, and we think non-OPEC, ex-U.S., production is doomed at current prices”.

Shale companies will struggle to keep growth rates up as they deplete the most profitable wells and have to move to higher-cost locations.

“[Shale producers] are starting to face pressure from investors to stop growing at all costs, but to look at growing within their cash flows. So we think U.S. production might fall half a million barrels a day relative to expectations,”


Demand for oil is rising. Reserves are getting depleted. That means new discoveries of supplies need to be made. And that exploration won’t happen until prices are at a level that makes it worthwhile.

If oil prices stay at their current levels, then supply will peak before demand does, he said. That’s even as the car industry transitions to electric vehicles, shifting away from fossil fuels.

In his view, oil demand will peak sometime between 2027 and 2035 — further out than most analysts expect.

“Today we have 100 billion barrels less in reserves than 10 years ago,” he said. “If we don’t discover new oil, every year [reserves] will decline 3% a year, which means over 10 years you lose 30% of your reserves.”

“We think we need $100 oil to mitigate declines through 2030,”.


Source: Market Watch

https://www.marketwatch.com/story/trade ... yptr=yahoo
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Jan 01, 2018 12:51 pm

Oil: 60.42, +0.58. First close over $60/bbl since 2015.
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Jan 01, 2018 8:38 pm

Higher Oil Prices Slow China’s Crude Stockpiling

by Tsvetana Paraskova

Taking advantage of the low oil prices, China increased its Strategic Petroleum Reserve (SPR) by almost 14 percent between June 2016 and June 2017.


Source: Oilprice.com

https://finance.yahoo.com/news/higher-o ... 00154.html
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Jan 08, 2018 11:20 am

Oil: 61.44, -0.57.

Down Friday, but a solid continuation of the break to a higher high.

Bumping at the mid-2015 highs, a key resistance point that likely hems in oil prices or awhile.

Source: Investment House
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Re: Oil 10 (Sep 16 - Dec 17)

Postby winston » Mon Jan 15, 2018 5:30 pm

Oil: 64.30, +0.50. Up all week as oil continues its breakout run from mid-December.
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