Expect 70s and 80s by year end. Chevron and other companies will be scrambling to hire again. Oil stocks are already starting to sizzle.
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Upstream half-wit douche-bags. They never did know anything about the financials in O&G and never will. Like teaching a pig to fly. And if you look at the guts on some of them overfed free-food OS slobs, it's the proper analogy - LOL!
Down stream half wits.
Oil goes up, companies will just flick the switch to turn on wells already drilled. Thousands of wells around the world shut in, some not even completed. There won't be any serious drilling for a few years.
It will be good if oil runs a bit more. I can at least unload my losers and exit.
With our piss poor stock performance today (down $1.45), I think investors and speculators are betting on bad news tomorrow during the earnings conference. We don't bode well on the horizon of things to come. We'll soon find out.
It's not easy to predict the direction of oil prices. There is a strong element of speculation in oil trading. The fundamentals don't show the fiesability of it going up more than it has lately. I don't think we will see $50 anytime soon. The weaker Dollar and the recent Fed decision to not raise the rate is the underlying reason for the price level we see today being this high. There is a better likelihood for lower prices than an increase in oil prices, so don't be over optististic. If you are holding CVX and have gained appreciatively so far, be prepared to sell and take your profits. There will be another low coming soon and an opportunity to ride the train again for another gain. That's my take on things.
Could this be another headfake rally? Perhaps it could take another dip into the 20s? Because as the price goes up companies will start drilling more again.
I hope you heard correctly, 9gsi. The BCG finding of excessive nepotism and something done about it by the Chevron BOD would be a welcomed event if true.
3yuo hit a nerve. He/she has described the fat slobs who still cling to their low-level Chevron jobs, hiding behind nepotism. Type 2 diabetis comes with obesity from high calorie intake of processed carbohydrates and minimal exercise. Does that hurt, "Butthurt?"
Very few, if any, publicly traded companies have nepotism levels as high as Chevron. The board of directors is looking into it thanks to the Boston Consulting Group study. Your time on the gravy train is nearing the end of the line.
The US Dollar has weakened temporarily, that's all. That's why oil prices have increased lately. There is still an oil glut and more oil deposits are being found (read the article this week about major oil find in the U.K.). The world economy has not recovered and could slow down more. The Fed did not raise rates this week. These are all indications it's not time to high-five and celebrate prematurely. Oil may be up, but don't be too optimistic. I would like to see oil maintain a price band of $65 to $70, but that will be a few years away.
Oil looks upbeat. Happy days will be hear again. Chevroids! Just stick around and everything will be fine and dandy.
Yes,-3yuo, it is unlikely that a person would come up with explicit details about another anonymous, nameless, faceless poster without seeing those charachteristics in themselves and being ashamed of them. And the "gay slur" comment, used as criticism by @-3wjg against someone else indicates that -3wjg is a bigot, and also a prick that likes to poke fun at people with diabetes, a serious debilitating illness. Yes, it is likely that -3wjg is a white, divorced, overweight racist 45+ year old bigoted prick just like the persona that he described.
@-3wjg, From the tone of your post, it's much more likely that you're describing yourself!
I have a profile of the Chevron lifer who keeps posting "butthurt" loser comments. White male, 45+, "some college," divorced, overweight, Type 2, diabetic, 15 years at Chevron, never made it past a 24 PSG. He uses the term "butthurt" (which is a gay slur), to attack people writing about the Chevron mismanagement and nepotism. By his limited vocabulary and basic logic, he may have an IQ of 100 at best. This is and example of the Human Energy remaining at Chevron.
Hey, OP, SLB just announced 8,000 more layoffs and the CEO said we have not seen the floor of the price of oil. You must be the kind of "engineer" manager who rubber stamped Gorgon and Wheatstone.
@-3oju, You sound like just a plain old butthurt pessimistic idiot. Nothing special about you.
OP, you the same Einstein I worked with, years ago, at one of the plants? You the guy who developed that mystical technique for predicting year-end op cost estimates, which you would never share with me, until end of the month actual and revised budget cost data was in (based upon MY process)? Then, you'd always come up with an amazingly close approximation of what I already knew? Because,... you SOUND like that guy! Point is, Clown,... ANY one can see that crude prices have risen, but it takes a very special kind of idiot to just draw a trend line, then declare that they know the future. You sure sound like a very special kind of idiot. (I just hope you're right.)
OP, I think you're right. You should cash in all your savings and 401k's and buy future options on oil. Sounds like you could make a killing.
OP must be using one of the fantasyland models that Watson relies on for his expert guidance.
op must not of been in this business long. your dreaming
We need oil and gas for almost every means of transportation and power generation as well as HC derivative products in the civilized world today and will for years to come. That's the bottom line. The only thing in question here is the price. How many of you believe that politicians or financial powers that be won't take advantage in some form or another, at the expense of the consumer? The price will go up. It's just a matter of when and where.
Dream on!
Oil is going up because USD is going down.
Don't count on $5o+/BBL this year. The "Doha Summit" showed that Saudi, Russia, Iraq, etc. will not cooperate to limit their production. Iran and Libya are eager to increase their share of the pie as soon as they can ramp up their own output. Global "over hang" is estimated at ~2 MMB/day, and no significant demand growth to mop up the surplus. So who is cutting production - anyone whose breakeven opex is more than $50/BBL, and this will take some time to wind down operations.
$70-80/BBL may be a couple years away. I gave up any hope of future employment with CVX or any of the "Majors" with their high overhead costs.
Such wishful thinking. Look at all the wells shut down due to the downturn. If oil starts going back up, they will bring the price down. This is going to happen for several years.
while some folks who have (or will have) found jobs in other industries, many will come back to the employers who canned them. the money in O&G is simply too good compared to other industries.
just be aware that if you are rehired within a certain time by Chevron, a buying company (GOM asset buyer) or a contracting agency working for Chevron you may have to pay back some of that severance. read your package carefully.