American frackers are raping the OPEC

Spendulus

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Quote from: a7mos on August 18, 2016, 01:59:15 PM

the Oil price falling is because the high quantity that are produced daily. high supply leads to low prices as usual. so why OPEC do not lower their producing so the price will rise ?

They thought they could drive American frackers out of business by overloading the market, and driving prices down.

It backfired.

a7mos

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the Oil price falling is because the high quantity that are produced daily. high supply leads to low prices as usual. so why OPEC do not lower their producing so the price will rise ?

Spendulus

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Quote from: ?? on ??

... and weakening substrata leading to increased earthquake activity in fracking regions, but that's none of my business.

Isn't that something to leave to geologists? Some areas have virtually no earthquake activity, others have highly unstable substrata.

Spendulus

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Quote from: bryant.coleman on August 18, 2016, 05:34:44 AM

The cost of producing one barrel of shale oil is now less than $40 and it is rapidly approaching the $30 mark. This means that most of the large-scale and medium-scale frackers are operating at a profit right now. This means bad news for the traditional oil producers, especially the OPEC members. Nations such as Venezuela, Angola and Nigeria, where the cost of production is very high, are going to get hammered. The Saudis have burnt at least $200 billion of their reserves till now. They have also reduced their funding for various terrorist organizations around the world.

Looks about right. Unlike nations that would create the likes of an OPEC, production levels of American frackers cannot be controlled.

bryant.coleman

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The cost of producing one barrel of shale oil is now less than $40 and it is rapidly approaching the $30 mark. This means that most of the large-scale and medium-scale frackers are operating at a profit right now. And this means bad news for the traditional oil producers, especially the OPEC members. Nations such as Venezuela, Angola and Nigeria, where the cost of production is very high, are going to get hammered. The Saudis have burnt at least $200 billion of their reserves till now. They have also reduced their funding for various terrorist organizations around the world.

Topic: American frackers are raping the OPEC (Read 438 times)