Author Topic: Shares of U.S. shale oil producers plummet after OPEC decision  (Read 359 times)

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Offline flowers

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Shares of U.S. shale oil producers plummet after OPEC decision
« on: December 04, 2015, 06:02:02 pm »
http://news.yahoo.com/shares-u-shale-oil-producers-plummet-opec-decision-163122047--finance.html

Quote
(Reuters) - Shares of U.S. shale oil producers tumbled on Friday on indications OPEC would keep output at near-record levels, even as a global oil glut has pushed down prices, in a bid to squeeze rival U.S. producers out of the market.

OPEC ministers, meeting in Vienna to decide on policy, also raised their oil output ceiling largely to acknowledge the reality that its members pump in aggregate more than the previous 30 million barrels per day (bpd) cap.

While overproduction hadn't been a big secret, the ceiling raise suggested to the global oil market that even more OPEC oil can be expected. That sent Brent and U.S. oil prices sharply lower, dragging down U.S. energy stocks with them.


Online Free Vulcan

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Re: Shares of U.S. shale oil producers plummet after OPEC decision
« Reply #1 on: December 04, 2015, 06:11:45 pm »
Oil is banging down on $40 in the futures as we speak. They are trying their best to knock it thru.
The Republic is lost.

Offline GourmetDan

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Re: Shares of U.S. shale oil producers plummet after OPEC decision
« Reply #2 on: December 04, 2015, 06:54:24 pm »
 
Surprise, surprise... fire sale prices on shale oil assets for those with cash...


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