anytime soon
28 replies (most recent on top)
Pipelines from West Texas are at capacity, same from ND. Iran is being shuttered if the USA gets its way, Venezuela remains a basket case long term, arabia wants some payback, Russia it too incompetent to ramp up rapidly, and offshore GOM exploration remains way down and only a few major caps can ramp short term...ya we could see $100 oil. Not for long, but as a spike, sure!
Oil will not hit $100. I won’t spend time here explaining because the reasons are many and multifaceted. It could hit the $80s for a short time only, but will go back down from there. But $100 oil is at best some 5 years away and most of that price would be attributed to inflation. In other words, everything else would be higher in price too.
Kelc, as the company moves toward reducing the rank and file headcount, it’s inevitable that a close percentage of management jobs will also be cut. Efficiency is all about doing more with less, so it stands to reason that if certain managers and supervisors cut personnel, they lose the numbers below them, and their existence becomes less relevant.
Can oil hit $100 again .... maybe
https://seekingalpha.com/amp/article/4183852-game-oil-prices-going-higher
Whatever the case, I suspect Chevron will be doing more layoff all the may up to the start of the next hiring boom. You would think that our leadership would have a bit more like mg term vision (this as been a volatile industry forever!).
Wow. tell us what the price will be next week, then next month. I have a lot riding on this, thanks!
In case you missed it, “Oil prices are heading for a downturn later this year and will sink even lower in 2019 as the fundamentals of supply and demand weaken, J.P. Morgan forecasts.” - June 8, 2018
Monday, June 4 and oil is down again. The peak demand summer months have started and it’s down 1% today. $100 oil you ask? It’s wayyyy off.
nxvn, Oh, no worries, mate, no excuses required for me never needed any, never will. It's you that everyone is concerned about, don't forget your pathetic hapless condition and bitter attitude!
For oil to hit $100, it will first have to reach $50. After that it will be a long waiting game of more ups and downs. Start paring back your CVX holdings.
jkzw, It was obvious to me as to what his/her point was. The point is that they are limiting their exposure to stocks which fluctuate much based on the price of oil, the topic of this thread. It makes perfect sense to me, I am doing the same. Still maintaining a small stake to remain in the game. Who knows! Also, anyone at Chevron already has an enormous amount of skin in the game, including the pension. No sense in having everything.
-jpnw, I don’t think any serious person would be knocking you for owning a small 3% stake in O&G dividend aristocrat stocks. I’m assuming it was the words and phrasing you used when you posted the comment. It sure sounded like you you were over-hyping the worth of what 3% is worth to most people. Came off as sounding like you were hanging your hat on it.
The last few comments are off topic. Start another thread if you want to continue. Back to the subject, I don’t see $100 oil because as the WTI price reaches over $75, it will turn the valve wide open on more US fracking, thus keeping the price from going up and maybe even having the price go down more. There is an equilibrium to everything in economics.
fbos "keep your investments in oil related stocks"? Yes, I plan to leave the 3% of my investments in dividend aristocrat O&G equities that I have, as always. They have always fared quite well for me in the long haul. Most of my income is from real estate. How about you?
If you are 83 -fzcz, you are fine. Keep your investments in oil related stocks. I was advising the younger investors below 65.
ejhb, I have been in oil equities for the entirety of my investment career and will always be. I have profited quite well because of it. I certainly hope that I "live" long enough to even regret it in the least. That does not appear to have a high likelihood. I am 83. The sky is not falling, chicken little. Get a hold of yourself, junior! (lol)
Oil prices lost 4% on Friday on talk that Russia and OPEC are going to raise production quotas. If this speculation follows through, oil prices will stay down and go lower. Don’t expect $100 or even $80 oil anytime soon. Lower your exposure to CVX and other oil related stocks or live to regret it.
4zbu, I agree with that prediction, lt looks like we are on the way!
I can see a 75% chance of oil hitting $80 by mid summer 2018, but $100 oil is much further away, unless there is a geopolitical event involving Iran.
Hey even an idiot knows the best way to fund your retirement is to put everything on the roulette table and go for black or red. It’s the only way you morons wake up for crissake.
1wya, so your friends were buying CVX in the 8 to 10 dollar a share range and in the teens for the early part of his career. about a 1200% gain to date for the early years and 20-40% average per year depending on purchase dates, etc. . I feel so bad for them - LMAO!
1wya, No problem my friend. Stay in your bubble of investing ignorance. I will pray for you and all of your acquaintances who have no knowledge of investing. I passed your mere 28 years a decade ago but do pat yourself on the back for the persistence. And get over yourself, because you are nothing special, particularly financially. Very common, in fact. I suspect that those who stayed with CVX, especially during the 2 for 1 employee deals, you are quite envious of. Too bad for you. It's never too late to try and catch up. Try harder.
@1ftq - I’m surprised at your statement. It may be you who is living in a bubble. I’m a 28 year employee of Chevron and know more than a dozen people on my floor alone who invest 100% in CVX stock. Not a wise move, but there’s lots of people who only own CVX in their 401k. I knew one guy who retired last year after 37 years at Chevron. For his entire career, he held 100% CVX stock. He only got out once for a short while, then got back in 100%.
"Looks like the OP is 100% into CVX stock"????????? Uhhh, No. Wow, don't we live in a bubble on the "layoff paranoid" Chevron employees forum. Get over yourself. Even a person heavy into O&G, or the Energy sector itself, would hardly be that weighted in one equity. Seriously? Some of you need to rethink about whether or not the rest of the world is as ignorant as you.
Then of course many of you don't know investing outside of the company 401k, so maybe it's really that pathetic. you never know- lol!
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Possible. All the American car manufacturers ramping up SUV production.
Looks like the OP is 100% into CVX stock wishing for a quick payday. Let me tell you if oil hits $100, your stock price will go up some, but on the downside, you’ll be spending lots more money on gasoline and on every commodity you buy that relys heavily on transportation costs. Your vacation trip will be more expensive and your heating and cooling costs at home will go up. If the price of oil goes up too much or too quickly, there will be negative consequences to reckon with.
Economic Growth translates to more Energy Demand translates to Higher Price. We can also attack this from the supply side too. A couple of examples already cited.
A nuclear exchange between Israel and Iran that ignites a ground war across the Middle East should cook the price up nicely... but watch what you wish for!
A few destroyers blocking the Straight of Hormuz may help do the trick...