US Oil Producers Fail to Produce

[Gelston]

I wish gas was that low in my area.

It's 3.48 here. You must live in a liberal state.

[Tgo01]

It's 3.48 here. You must live in a liberal state.

It's true

[Methais]

Which is why you should be happy the price of oil is calling instead of being salty that Big Oil isn't profiteering as heavily

Have you ever watched Judge Judy and heard her yell at someone like "Don't pee on my leg and tell me it's raining!"?

You're convinced that it's raining. Because you're stupid and gullible. And a legit retard.

[Methais]

It's true

[Seran]

So they create a problem, don't solve the problem, and want credit for it?

That's like someone beating you senseless, then when you wake up, them telling you to your face that "you're alive! I saved your life!".

You have beaten spouse syndrome. Might want to examine the relationship you're in with your current government.

HAHA! How many articles, lawsuits, etc., outlining the American/OPEC+ worldwide oil production cuts put into place by Donald Dump, do you need in order to finally stop ignoring the truth? Oil supply was artificially cut, then Russia decides it wants to turn Ukraine into it's latest new territory and as a result, oil supply available to the majority of countries was cut further! Let's see, Donald Dump + Russia = high oil prices.

Cue President Biden, presiding over one of the largest and swiftest recoveries in our country's history, see's oil prices continuing to rise following Putin and his predecessors actions. He asks American oil companies to step up, they rebuff him, he asks OPEC who initially rebuffs him. So what does he do? Organizes a release of oil through multiple IEA countries strategic petroleum reserves. This immediately halts the rise of oil, then it reverses it to the $90ish a barrel we're seeing now. All the while Big Oil and Republicans are shrieking their heads off trying to keep oil prices high for profits and as a political truncheon.

So.. Biden didn't cause the oil price spike, but Biden is resolving the oil price spike. Good luck trying to spin away the truth!

[Neveragain]

So.. Biden didn't cause the oil price spike, but Biden is resolving the oil price spike. Good luck trying to spin away the truth!

Yes, resolved in a way by bankrupting US taxpayers.

[Methais]

HAHA! How many articles, lawsuits, etc., outlining the American/OPEC+ worldwide oil production cuts put into place by Donald Dump, do you need in order to finally stop ignoring the truth? Oil supply was artificially cut, then Russia decides it wants to turn Ukraine into it's latest new territory and as a result, oil supply available to the majority of countries was cut further! Let's see, Donald Dump + Russia = high oil prices.

Cue President Biden, presiding over one of the largest and swiftest recoveries in our country's history, see's oil prices continuing to rise following Putin and his predecessors actions. He asks American oil companies to step up, they rebuff him, he asks OPEC who initially rebuffs him. So what does he do? Organizes a release of oil through multiple IEA countries strategic petroleum reserves. This immediately halts the rise of oil, then it reverses it to the $90ish a barrel we're seeing now. All the while Big Oil and Republicans are shrieking their heads off trying to keep oil prices high for profits and as a political truncheon.

So.. Biden didn't cause the oil price spike, but Biden is resolving the oil price spike. Good luck trying to spin away the truth!

Seran when oil prices go up $8743095: tHe PrEsIdEnT cAn'T aFfEcT oIl PrIcEs!!!!!!!

Seran when oil goes down 4 cents: bIdEn Is ThE gReAtEsT pReSiDeNt EvEr FoR lOwErInG oIl PrIcEs!!!!!

[Tgo01]

Seran:

[Seran]

Oil prices continue to fall, now at $86 per barrel. Woot.

Rystad Energy released figures about $10+ billion in losses from hedging activities by oil producers who bet oil would be $55 a barrel. Whoopsy, guess they need to explain to their shareholders how playing the derivatives lottery tamed higher profits they otherwise would have fleeced.

U.S. Shale Faces More Than $10 Billion In Hedging Losses

U.S. shale oil producers are in line to suffer more than $10 billion in derivative hedging losses this year if oil prices remain around $100 per barrel, Rystad Energy research shows. Many shale operators offset their risk exposure through derivative hedging, helping them to raise capital for operations more efficiently. Those who hedged at lower prices last year are in line to suffer significant associated losses as their contracts mean they cannot capitalize on sky-high prices.

Despite these hedging losses, record-high cash flow and net income have been widely reported by US onshore exploration and production (E&P) companies this earnings season. These operators are now adapting their strategies and negotiating contracts for the second half of 2022 and 2023 based on current high prices, so if oil prices fall next year, these agile E&Ps will be able to capitalize and will likely boast even stronger financials.

Anticipating the significant negative impact of these hedges, shale operators made a concerted effort in the first half of this year to lower their exposure and limit the impact on their balance sheets.

https://oilprice.com/Energy/Crude-Oi...ng-Losses.html

[Suppa Hobbit Mage]

Oil prices continue to fall, now at $86 per barrel. Woot.

Rystad Energy released figures about $10+ billion in losses from hedging activities by oil producers who bet oil would be $55 a barrel. Whoopsy, guess they need to explain to their shareholders how playing the derivatives lottery tamed higher profits they otherwise would have fleeced.



https://oilprice.com/Energy/Crude-Oi...ng-Losses.html

Thanks Putin!