Long Run Explor Ltd Ord WFREF

Manipulation

[madmax1980]

I don't have the knowledge some of you here have, but the current oil price seems to be a pure manipulation. 
What happened? for the price of oil to be at these levels? I don't know. As far as I know, planes are still flying, cars are still getting sold, traffic jams are a reality every morning. I still see people fueling their cars... WTF how can inventories be so high?
Manipulation, new way to make money

[emmitt]

Demand is not the problem. The problem is over supply.

[mdaffin]

You are kidding right? Oil consumption in developed countries is flat to small decline. US oil production has skyrocketed and everytime someone thinks they can't produce at a certain oil price - the US producers show them they are wrong. The only manipulation was keeping the oil price near $ 50. They need to get to $ 30 before US producers may back off. After this is all said and done

[Box927]

Scroll the graphs. https://www.eia.gov/petroleum/weekly/crude.cfm EIA = Energy Information Agency in the US IEA = International Energy Agency in Paris. Don't confuse them if you want info on the US use EIA numbers.

[madmax1980]

one thing is litterature, the other is reality. someone will bring oil to $100 and more eventualy, it is called greed!

[emmitt]

Reality is that their is way too much oil coming to the market. It will be a long time before $100 oil is a sustainable price. 

[madmax1980]

have you checked the numbers yourself? 

[emmitt]

Of course I've checked the numbers. Do you really believe that the price of oil has dropped due to market manipulation or are you just trolling?

[madmax1980]

I believe it is only market manipulation... no one saw it coming and the numbers were there, as they are now. So you say! when oil was at $100 could you believe it would be at 50$ now? I don't think so! Let's shake the tree... take the undesirables away and push it back to $100 and more... GREED! U might want to write this down

[emmitt]

I would agree that OPEC has manipulated the price in the past by cutting production. OPEC is  now letting the market set the price for oil. If you read OPEC's March report it doen't look like there will be much change in the supply/demand fundemantals for the rest of 2015. We could be under $60 for the rest of 2015. When oil was $100 I understood that it was too high based on supply

[madmax1980]

Let the market decide of the price? this is good! name me the OPEC members and their cost to pump oil out.  

[emmitt]

I would focus more on the cost of production for the shale plays. The amount of new supply of oil has increased considerably in the US, approx doubled since 2009. Until the decline rates on wells, hedges come off and companies go bankrupt to reduce the output, you will not see much of a change in oil prices. Baring a disruption in the middle east due to war/terrorism.  Can you lay out your

[tsoprano1]

So, emmitt, you believed the market was manipulated before but now it isn't. Yeah, that makes sense. They were making big money before but thought that letting market set price was a better idea. Funny. I bet you believe that gold isn't manipulated either. Hard to fathom there are still people out there that think Goldman and Morgan are playing by the rules in spite of trillions of dollars

[emmitt]

Nope that's not what I said. I beleive it was manipulated more in the past when the Saudis would cut production to maintain higher prices. They are now unwilling to cut production because they know the production will be quickly replaced with US production. Every commodity has a level of influence/manipulation by investors, it's just normal and always has been. Shorters and longs can both

[JohnJBond]

Yes there is tremendous manipulation in the Oil market. Its World War Oil right now. You have the Saudi's trying to halt rapid growth in US horizontal drilling/fracking.     This is being done by maximizing Saudi production, and buying oil on the global market, then shipping it to the US for storage. This is combined with US media propoganda claiming that US oil storage is close

[peplare]

From the OPEC report today Stock Movements OECD commercial oil stocks fell in January by 5.0 mb to stand at 2,695 mb. At this level, inventories are 22 mb higher than the five-year average. Crude showed a surplus of 54 mb, while product stocks remained 32 mb below the five-year average. In terms of days of forward cover, OECD commercial stocks stood at 59.3 days, 1.5 days higher than the five

[emmitt]

Great post John, I think geo/political influences are always present when investing in commodities. It's been that way for the last 30 years I've been investing. I do beleive that the world is a wash in oil right now and it's pushing the price down.Manipulation can influence the price lower or higher but currently the main influence on the price is the over supply of oil. 

[JohnJBond]

Ask yourself why you believe the world is awash in oil, where that information came from, and who stands to gain/loose as a result. Also ask yourself if the "World" consists of 52 states or 196 Countries. I agree that oil is accumulting in the US on a weekly basis - if the US were the World, then it would mean the US is producing more oil than it consumes - but its not. In 2014 the US

[hallgg]

OPEC has at least 50% of the worlds cheapest production of oil. Sure they loved the high prices but so did their neighbors like Iran and Isis who are knocking at their door. OPEC has enough supply to sell it cheap for a long time.

[JohnJBond]

Ignored by 37............let me make that 38!

[hallgg]

No wonder JohnBond is ignoring me. This is what he said Oct around the 14th: RE:New 52 Week Low ---$3.24 lol...............is that a wow, I can't believe what a great deal I'm getting, or is that wow, I need to change my pants? Read more at https://www.stockhouse.com/companies/bullboard/t.lre/long-run-exploration-ltd#IeHA4k6WUpzzwY3A.99

[goldenegg]

people here have called for the bottom since Nov. Look up the post by 99999gold and all his post here from Oct/Nov/Dec/Jan/Feb telling everyone to get money out. that guy knew fundamentals and trading. He was short the stock from high 4s and he warned everyone to sell over and over.  what's best is that he warn everyone again to sell in Feb when the stock at 1.35 and he's reshorting

[JonCom]

OPEC cant sell it cheap, Saudi can sell it cheap.