This subs extremely biased and so many people are thinking in this bubble of oil going to a trillion dollars a barrel. Reality is setting in that oil is just not it once was, the market is rigger etc etc. Basing your opinion on people who have no knowledge or potentially even no stake in the game is a fools game. It’s like those buying gold at 5500$ and thinking it will only ever go up because they are in the hype bubbles.
Basic lesson but some need to hear it.
P.S. the game is rigged that’s 100% true so why play it?
Posted by Aggressive_Pin941
18 Comments
Hmm.. dated brent is dropping
LOOOL the institutions who shorted are getting really worried.
So many bots.
We will buy oil.
We will hodl.
We will wait for the contracts to come due.
The shorts will die.
Sure oil is not the next gme for sure, but I mean… There’s still a tangible real shortage out there. It doesn’t need to get to a trillion a barrel for things to get bad
One big difference is that Gold will easily overtake $5500 again before the summer is over.
This sub has devolved to r/americabad as people who have never interacted with this sub, eat up and regurgitate every bit of Iranian propaganda they can. The US is certainly not without blame in this conflict, but rational thinking has gone to the wayside
We’ve seen the ceiling it’s 120-130 a barrel. The straight just hasn’t had as much effect on the market as people thought it would.
I always come to Reddit for facts.
I’m not a speculator, I’m a geophysicist. the description of this sub is “Oil, gas, and other products that keep the world flowing – Oil, gas, seismic science, engineering, and cool pictures of rigs. Everything you need to know about exploration, recoverable assets and pipelines. Posts must be on topic,directly about the oil industry.”
thats why I joined, I was very surprised to see all the market players.
but it is a continuing education. and I’m happy to be here.
What everybody seems to be missing.. is that world has other sources of oil, and those sources are increasing production. World also takes measures to consume less. And there are shorts of course too. I read that 1% supply removal translates into 3-5% price increase. But world did not lose 18% of supply. Iran is/was still selling. Then you have other sources, reserves, some ships going through for a fee etc. I don’t know what oil price should be, but people are too dramatic about this I think.
Oil is up 50% already, which sounds about right.
If Trump is to shut up
Prices are going down because it’s not going to be delivered.
This conspiracy on here about a massive disconnect between futures and spot just isnt true. Unlike all these tourists that popped in here when the war started I actually operate oil wells. We got $87 bbl for our most recent loads sold in Texas. You guys need to remember that media runs on hype and doom to draw views. Ignore that and look at actual data.
The shorters are getting desperate, I see.
While how bad it gets will vary from place to place, one only has to look at how Asia and Australia are dealing with the oil shock right now to get an idea of what is coming.
Reality won’t be gentle when it asserts itself.
Also dont use Reddit as a source period
I think discernment is important in all information intake. You have to gauge the quality of the source against your own bias and be sure your bias is not clouding your judgement.
Sure this sub turned into a bunch of scared/excited market gamers who aren’t in the industry and don’t realize that their paper market is not completely reflective of physical price… and those of us who have been in this long enough to remember… nothing is ever as good as they say it is, nor as bad as they think it is.
But it’s been a great resource for “up to the minute” reporting too. I don’t play paper markets but it still impacts my bottom line so I don’t mind understanding it.
Just my take. I don’t believe anything until I deposit it.
Nobody should treat any internet chat room as a source imo.
The oil and gas industry is much more robust than it was in the 70’s. More nations have more domestic production than they did back then. To those of us that understand how the industry works the market is behaving relatively rationally.
For the rest of you people your minds are blown because you don’t have a sniff.
Yes you are right. Important point for beginners