What causes the extreme drop in oil and gas prices? And who wants to crush russias only income?

[Hyde]

I don't agree with the first post

The oil was being sold below 80 dollars per barrel for most part of the decade. It only increases when tension is surrounding one or more of the oil producing Muslim country or negative data is published by one of the first world country. The production of oil within the USA has also had greater impact over the decrease of oil prices. The Saudis too don't want the prices of oil to fluctuate above 90 dollars in order to keep interest for non-oil producing nations to carry on buying oil from them. They don't want people to explore alternative sources anytime soon

 

[Skull and Bones]

This drop is not permanent, if anyone is trading in commodities, i'd recommend him to invest and hold on to crude for atleast a year.

 

[nvKyleBrown]

LOL - Russia has 500 billion dollars in reserves to cushion any impact in lower prices. For Russia to be brought to its knees this will have to happen for at least 5 years and for the Russians to take no necessary measures in the meantime.

LOL at this thread.

Not quite. Russia's reserves stand at about $409 billion, according to their own central bank. Monthly values | Databases | Bank of Russia

This down about $79 billion from the same time last year. The last reported numbers are end of Sept, and they have thrown perhaps another 5-10 billion at protecting the ruble in October. They have a leak. At 10 billion a month, they would be good for more like 3.5 years. That assumes that the lower price of oil somehow does not continue to hurt them even worse, which it definitely will.

What they need is a rebound in the price of oil. Short of that, they are in serious trouble.

 

[Superboy]

Just type a 0 at the end. Problem solved.

 

[nvKyleBrown]

Just type a 0 at the end. Problem solved.

The US is not going to let you print $3.6 trillion dollars. US dollar transactions have to be cleared by US approved banks, not going to happen. You can print rubles to your hearts content, but no one will take them if you do, because they have no value.

I've read your opinions on how money is just a number, and you are just wrong. But go ahead and try printing money wildly when you get a country of your own to play with.

 

[Superboy]

The US is not going to let you print $3.6 trillion dollars. US dollar transactions have to be cleared by US approved banks, not going to happen. You can print rubles to your hearts content, but no one will take them if you do, because they have no value.

I've read your opinions on how money is just a number, and you are just wrong. But go ahead and try printing money wildly when you get a country of your own to play with.

The government has full authority. Don't want to type a 0? How about a bullet to the head? Just saying

 

[Chinese-Dragon]

Not quite. Russia's reserves stand at about $409 billion, according to their own central bank. Monthly values | Databases | Bank of Russia

This down about $79 billion from the same time last year. The last reported numbers are end of Sept, and they have thrown perhaps another 5-10 billion at protecting the ruble in October. They have a leak. At 10 billion a month, they would be good for more like 3.5 years. That assumes that the lower price of oil somehow does not continue to hurt them even worse, which it definitely will.

What they need is a rebound in the price of oil. Short of that, they are in serious trouble.

But the oil price is not going to be low for 3-4 years.

That would be too much good luck for countries like us that import over half of our oil.

Plus, the BRICS bank was set up for just an eventuality like this, and allows the combined initial capital to be moved from country to country in case of need.

 

[Romeoo]

ho

russia murdered almost 300 EU citizens this summer.

That was a decleration of war. There can be and will be no friendship with this tyrannical regime.

If we would be as pathetic as the russians are we would shot down an aeroflot jet. But we aren´t that low as them. So we do it that way. It is far more effective. Sanctions kill silent.

How about Nato and US killing 2 million Iraqis and a million or so Afgans muslims are u kiding here Ahole

 

[MarkusS]

lmao, all those fitness supplements and powders have impacted your brain quite adversely. You should rather train your brain instead of muscles which will wither away and transform into sags in a few years time anyway.

Here, read it, you shameful excuse for an enlightened European. Never again come question me because i tell you how things stand, or because you can't handle that reality is different than what your fitness dumbed down brain thinks it is.

http://www.nytimes.com/2014/05/18/w...-putin-gains-a-sea-of-fuel-reserves.html?_r=0



You're a shallow, mostly clueless guy that takes selfies in tight clothes. Like, duh, that you don't have much in common with me.




Make a search on how much of those reserves they spent in the last few months for propping up rouble value. Rough estimates are ~70. bill.$.

I believe my "fitness dumbed down brain" has alot more power in science that yours.

ho

How about Nato and US killing 2 million Iraqis and a million or so Afgans muslims are u kiding here Ahole

Just a question for you. How much do you think i care for iraqi or afghans?

 

[Audio]

I believe my "fitness dumbed down brain" has alot more power in science that yours.

I don't care what you think. You have problems in grasping reality.....personally i would recommend blackberries before you start posting here. They will remove the glut that protein dominant food has caused in your brain and will make it tick faster.

 

[MarkusS]

I don't care what you think. You have problems in grasping reality.....personally i would recommend blackberries before you start posting here. They will remove the glut that protein dominant food has caused in your brain and will make it tick faster.

Come back when you know how a jet engine works.

Beside that you make me laugh.

 

[C130]

This drop is not permanent, if anyone is trading in commodities, i'd recommend him to invest and hold on to crude for atleast a year.

of course not, but I don't see oil going back over $100 for a long time.
china and india are still consuming more and more oil a year
but some good points is
Canada is producing more oil
U.S is producing more oil
Mexico is about to produce 75% more oil than they are now for decades to come
Venezuela regime might topple install a pro-US government and you'll see oil production finally start to rise
Argentina got a ton of oil shale it can produce
China is starting to produce a ton of coal to liquids
these things are going keep prices low IMO
Sauds don't want to lose market share.

 

[Audio]

But the oil price is not going to be low for 3-4 years.

That would be too much good luck for countries like us that import over half of our oil.

Plus, the BRICS bank was set up for just an eventuality like this, and allows the combined initial capital to be moved from country to country in case of need.

lmao, posting with no clue again?

(Reuters) - Saudi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.

Exclusive: Privately, Saudis tell oil market- get used to lower prices| Reuters

As for BRICS bank, i foretold it will be used to bail Russia out months ago as it's first customer, glad to see i wasn't wrong. But here's the funny part, there's only 50 bill.$ in that fund and Russia already burned 70. bill.$ in this year alone.

So....... enjoy paying!

 

[Skull and Bones]

of course not, but I don't see oil going back over $100 for a long time.
china and india are still consuming more and more oil a year
but some good points is
Canada is producing more oil
U.S is producing more oil
Mexico is about to produce 75% more oil than they are now for decades to come
Venezuela regime might topple install a pro-US government and you'll see oil production finally start to rise
Argentina got a ton of oil shale it can produce
China is starting to produce a ton of coal to liquids
these things are going keep prices low IMO
Sauds don't want to lose market share.

Does that mean i should buy that Hummer i've been eyeing for a long time?

 

[C130]

Does that mean i should buy that Hummer i've been eyeing for a long time?

hell no
i just feel oil is going to stick around $60 to $80 til summer of 2015
we are moving to more efficient cars every year which is great.
I don't think we take oil for graniteanymore, and are turned off by large gas guzzling vehicles like SUVs