Discussion in 'General Chat' started by RyanV, Mar 5, 2014.
92.9 shell ( was 90.9 Friday )
With a fuel discount at Safeway I filled up 91 octane for 77.4 cents
$27.76 per barrel
U.S. and KSA are really set on breaking Iran this year I see.
Even with this oil glut and extradoinary low price US, KSA and Russia maintain a 10 mbpd production.
Our dollar is going to be amazingly worthless soon.
Dec 8th 2014 I said this.
and I heard that the price could slump to $20/barrel (summer fall 2015)before rising back to todays $50ish (winter 2016) a barrel..
Then this on feb 2015
Maybe it could still bottom out ?
At $20/b I think I should buy some stock . Then when it goes back towards $100 sell it. And then get stock from the mid stream.
I was sure wrong that I didn't think it would go much lower than $70 when it first started to slide. Who even knows if $20 will be the bottom...I was lucky I sold out of most of my stuff a while back. I got killed on one driller I held onto and the only other oil/gas stock I have is Parkland fuel which is mid stream like Impul mentioned. It's held up well until this week. I bought some more on the drop. They own gas stations (Esso, FasGas etc.) and basically load/unload oil/gas products, so as long as people are buying, they are in business. I don't see people stopping their purchase of petroleum products any time soon, so Parkland is probably a good long term hold. I get paid about 5% dividend while I wait...
*edit: Also, it's been said, be greedy when others are fearful....I think we're getting to that point in oil. Lots of negative sentiment and fear.
There is talks about the price of crude hitting a low of $10/barrel, oversupply and high production isn't doing anyone favours.
Iran has even come online and increased production by 500,000 barrels a day and aim for a increase of 1 million barrels a day with sanctions being lifted, obviously KSA are going to do everything to stop that as it cuts into their market share as ultimately their revenue.
Surprisingly enough shale oil is still profitable at the $20/barrel price but no refineries are buying it.
Will be interesting to see how this year plays out since world production is at a plateau and every major oil field is in terminal decline with water cut increasing on all of them, who is going to take the foot off production first US/Russia or KSA?
Only 89.9 for diesel yesterday
Gas is 84 at Costco yesterday.
2.259 a Gallon in the US yesterday (premium) - That's under 89 cents a litre after the difference in the dollar (I rounded up a little)
I think 87 octane was 1.89 a Gallon
I was down there anyway for a parcel, otherwise I wouldn't go there just for fuel any more.
122.9 for 94 at chevron in CR
Happy days to be driving a diesel right now...Paid 1.189 while regular gasoline was 1.409
your out here now, you can get the (Abby cheaper gas just over at Station road and fraser highway.) Yay
Yeah, that was my last fill up in Vancouver. Need to find a good station out this way Probably going to be going through a tank every 5 days with the new commute
Separate names with a comma.