| Submit your comments on this article |
| Arabia |
| Don't Look Now, but the Global Oil Surplus Just Tripled |
| 2016-09-26 |
| h/t Instapundit Way back in June of 2014, oil was trading above $110 per barrel and producers were sitting pretty. Now, some 27 months later, those same producers have been put through the wringer and been forced to endure prices that dipped as low as $27 per barrel at the start of this year before recently settling in the $40-50 range. A global oversupply precipitated this price collapse, and its persistence has been as much of a boon for buyers as it has been a headache for sellers. Now, as Bloomberg reports, that glut appears to have tripled over the course of the past month: |
| Posted by:g(r)omgoru |
| #8 The late great Daniel Drew could dig it. He wants Erie up, Erie goes up, he wants Erie down, down, Erie goes, Erie to be quiet, Erie flutters like a butterfly. I have it in me to be a mogul. |
| Posted by: Shipman 2016-09-26 16:34 |
| #7 If oil prices returned to where they were three years ago gasoline prices would be higher, and all other prices as well. There's no slack in the system. |
| Posted by: Thing From Snowy Mountain 2016-09-26 16:27 |
| #6 Royal Dutch Shell plc (ADR) (RDS.A) Reports Monumental Decline In Earnings The Country Caller takes a look at the second quarter of Shell Published By: Myrna Salomon on July 28, 2016 09:21 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) released its Q2 financial results for the fiscal year 2016 before the market opened on Thursday. As expected, Shell’s financials became a victim of slide in crude oil prices as the company experienced a plunge in its year-over-year (YoY) earnings. |
| Posted by: Besoeker 2016-09-26 16:27 |
| #5 It's the election SPOD, don't listen to TW she's not kook-oil trained. |
| Posted by: Shipman 2016-09-26 16:26 |
| #4 Gas prices are going up in the last month about 15 cents a gallon when oil prices are down??? Posted by Sock Puppet of Doom I didn't know there was anybody left in California. Judging from all the car tags around here, I thought they'd all moved to Georgia. |
| Posted by: Besoeker 2016-09-26 16:19 |
| #3 Something fishy about gas prices in California. Is it time to switch over to the winter blend, Sock Puppet of Doom? California has persnickety requirements, as I recall, requiring freeing up equipment from making whatever the rest of the country uses. |
| Posted by: trailing wife 2016-09-26 16:18 |
| #2 Well, given who your Governor is, there is probably some new tax they haven't told you about yet. |
| Posted by: g(r)omgoru 2016-09-26 16:16 |
| #1 Something fishy about gas prices in California. Gas prices are going up in the last month about 15 cents a gallon when oil prices are down??? |
| Posted by: Sock Puppet of Doom 2016-09-26 15:02 |