Is it cheaper to mine bitcoin now? Oil prices dropped but the electricity cost has not changed!
When oil price drops, we were told that electricity is generated from natural gas/coal; when the oil price increase, we were told this directly affect the cost of electricity.
Topic: Oil Prices Slump to 11-Year Lows in Asia and Europe (Read 4415 times)
It means that there are some oil traders, which trade a lot of oil in the market. 
the problem of oil price is there are some countries which their economy is depending completely on selling their oil. and even when prices continues falling, they will not stop producing and the market will not rise again. it is time to make more researches on the renewal power as oil mining may cost more than its value in the next few years
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.
they are planning to stock the oil to sell when the price rises,they have already had contracts with india to store oil
There is a storage cost as well as opportunity cost associated with stocking oil. It might be cheaper to not produce (i.e. do not extract - store crude in oil wells). So it might make sense to sell now, even if the price of oil is expected to increase.
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.
they are planning to stock the oil to sell when the price rises,they have already had contracts with india to store oil
There is almost to storage capacity now. The oil tanks are full of oils now. So the oil has to be dumped to the market.
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.
they are planning to stock the oil to sell when the price rises,they have already had contracts with india to store oil
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
If the output is kept at present levels, the oil supply will still exceed the demand. The price will continue to go down.
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
Bah it won't be so low for long. You can't do anything against that, it's a supply demand market with limited supply and growing demand.
No this time the situation is not as previous, in which there will be a price rise after reduction. Now the market has surplus availability than demand which will continue which makes price low for long run.
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
Bah it won't be so low for long. You can't do anything against that, it's a supply demand market with limited supply and growing demand.
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
Bummer, I'm hoping for a downward trend as a consumer. But I guess major decline in price have some major effect in the industry so anything that is too much is bad and it applies here as well.
Four oil producing nations including Saudi Arab, Russia agreed to maintain the current production levels. The price will not drop soon.
But If I remember correctly the prices were down due to OPEC countries increased the production. Then if supply increases and the demand stays the same then prices fall as on this case however with the low prices I guess that some countries try to get oil as much as they can and this should lead to an increase in demand and therefore in the production of those who are selling cheap. I'll make a search on the production since the fall to see that meeting.
The situation is not that simple. All the OPEC members have well defined quotas, which they are expected to maintain. However, recently, Saudi Arabia started producing crude oil well over their quota limits. This was what triggered the oil price crash in 2015, from $110 per barrel to less than $30 per barrel. As far as I know, the other OPEC members are honoring their quota limits.
Overproduction is not good, If something renewable perhaps but oil is not. Low prices should lead to overproduction.
Low prices will not lead to over-production.
If the prices are low, then the profit margins will be reduced. So for the companies, there is less incentive to ramp up their production. Therefore the exact opposite is going to happen. In case of prices staying low, the production will decline in the long-term. (Already the Bakken shale oil production in North Dakota is showing signs of decrease).
OK,
But If I remember correctly the prices were down due to OPEC countries increased the production. Then if supply increases and the demand stays the same then prices fall as on this case however with the low prices I guess that some countries try to get oil as much as they can and this should lead to an increase in demand and therefore in the production of those who are selling cheap. I'll make a search on the production since the fall to see that meeting.
After do a little search I found the next:
-OPEC controls about 43% of world oil production and 81% of stocks domain oil. Its oil exports stood at about 51%.
-While production has surged in recent years supply has increased more than demand recently however the cause by which has fallen more than 70 percent since June 2014.
-The increase come from Saudi Arabia,Iraq,Iran mainly.
So 3 are members of the OPEC, but even so, maybe more than just new oil supplies from the Middle East influencing the market. Example:
World field production of crude oil in September was up 1.5 million barrels x day over the previous year. More than all of that came from a increase in the U.S. Saudi Arabia, and Iraq. If it had not been for the increased oil production from these three countries, world oil production would actually have been down over the last year.
Now come the thing interesting Im agree with you that: If the prices are low, then the profit margins will be reduced. So for the companies, there is less incentive to ramp up their production. Therefore the exact opposite is going to happen. In case of prices staying low, the production will decline in the long-term. (Already the Bakken shale oil production in North Dakota is showing signs of decrease).
Taking this in consideration I could are agree with you that the production will decline in the long-term
especially in the countries that have lost due to the high cost of extraction, But no evidence that countries overproducers decreases its production as they do not decide bringing about the fall in prices as has been the case until now since June 2014. Now as you say North Dakota is showing signs of decrease we can say that US is showing a decrease but anyway, Why increased production September on? this was done together with Saudi Arabia, and Iraq. If they had done world oil production would actually have been down almost over the last year which is contradictory.
Now my statement: Low prices should lead to overproduction. Agree, is not true at all as you pointed clearly. However for instance one can not completely rule out that such, Suppose for example a company has a debt and has payments to make then necessarily has to sell it product at a low price but now it needed to produce more to get the same amount of revenue which means an overproduction, despite the decrease in production is offset one another overproduction.
Finally please let me show a graphic where Supply has increased more than demand recently:
http://www.nytimes.com/interactive/2016/business/energy-environment/oil-price-supply-demand-imblance.html
Overproduction is not good, If something renewable perhaps but oil is not. Low prices should lead to overproduction.
Low prices will not lead to over-production.
If the prices are low, then the profit margins will be reduced. So for the companies, there is less incentive to ramp up their production. Therefore the exact opposite is going to happen. In case of prices staying low, the production will decline in the long-term. (Already the Bakken shale oil production in North Dakota is showing signs of decrease).
OK,
But If I remember correctly the prices were down due to OPEC countries increased the production. Then if supply increases and the demand stays the same then prices fall as on this case however with the low prices I guess that some countries try to get oil as much as they can and this should lead to an increase in demand and therefore in the production of those who are selling cheap. I'll make a search on the production since the fall to see that meeting.
Overproduction is not good, If something renewable perhaps but oil is not. Low prices should lead to overproduction.
Low prices will not lead to over-production.
If the prices are low, then the profit margins will be reduced. So for the companies, there is less incentive to ramp up their production. Therefore the exact opposite is going to happen. In case of prices staying low, the production will decline in the long-term. (Already the Bakken shale oil production in North Dakota is showing signs of decrease).
As long as the price is more than the marginal cost of production, companies will keep producing.
However, investments in fresh capacity will stop.
Overproduction is not good, If something renewable perhaps but oil is not. Low prices should lead to overproduction.
Low prices will not lead to over-production.
If the prices are low, then the profit margins will be reduced. So for the companies, there is less incentive to ramp up their production. Therefore the exact opposite is going to happen. In case of prices staying low, the production will decline in the long-term. (Already the Bakken shale oil production in North Dakota is showing signs of decrease).
For the Western companies, when the price is low, it will produce less or shutdown. For Iran or Saudi, if they want to balance their budget, they have to produce more.
Overproduction is not good, If something renewable perhaps but oil is not. Low prices should lead to overproduction.
Low prices will not lead to over-production.
If the prices are low, then the profit margins will be reduced. So for the companies, there is less incentive to ramp up their production. Therefore the exact opposite is going to happen. In case of prices staying low, the production will decline in the long-term. (Already the Bakken shale oil production in North Dakota is showing signs of decrease).
Yes, oil prices are very low from some time ago, for car drivers this is very good news . 
I think low oil price can make some headache to large oil sale companies.
I think low oil price can make some headache to large oil sale companies. It is not just oil companies, there are entire countries dependent on oil.
Not to mention the millions of people who have invested in oil companies.
But on the whole, I would say more people benefit from lower oil prices than higher oil prices.
That's true, Commodities such as Oil control a very large % of Global Economy and such dumps in its price are going to let some Super-Powers suffer for sure...
Yes, oil prices are very low from some time ago, for car drivers this is very good news . I think low oil price can make some headache to large oil sale companies.
I think low oil price can make some headache to large oil sale companies. It is not just oil companies, there are entire countries dependent on oil.
Not to mention the millions of people who have invested in oil companies.
But on the whole, I would say more people benefit from lower oil prices than higher oil prices.
Overproduction is not good, If something renewable perhaps but oil is not. Low prices should lead to overproduction.
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