OPEC - Cutting 1.2MMBPD

[RustyRanchero]

Apparently there could be an additional 600,000 in cuts from non OPEC participants (see Russia). No news yet on who is cutting what.

This is big news for Texas E&P players, midstream players, and minerals owners.

[Pineywoods]

Bout time!

[hammer63]

Waiting for the details....cautiously optimistic.....

[Ætheling]

Woohoo! They know they are defeated, there is no destroying the shale plays here. You can put the operators on it right now out of business and someone will come in right behind them and buy it up. Murica!

[hammer63]

OPEC cuts 1.2 M/D and non-OPEC cuts 600,000 per day, including Russia. Sweet!

[rhodes520]

OPEC cuts 1.2 M/D and non-OPEC cuts 600,000 per day, including Russia. Sweet!

So this is why my phone has been ringing off the hook today. It's about time

[RustyRanchero]

So this is why my phone has been ringing off the hook today. It's about time

Selling a whole lot of lifts and things? In the barnett or out here in Midland/Odessa?

[Dale Moser]

Kick the tires and light the fires, let's put some equipment in motion!

[kyle1974]

Woohoo! They know they are defeated, there is no destroying the shale plays here. You can put the operators on it right now out of business and someone will come in right behind them and buy it up. Murica!

having a male president with a set of normal male reproduction organs probably also helps.

I have wondered what their thought process was, because I think you're right that they fully intended to destroy the domestic oil companies.

[Man]

Sorry I am not in the gas and oil buisness.....but am I summing this up correctly? Higher gas prices expected and a lot more people going back to work?

[J.B.]

sorry i am not in the gas and oil buisness.....but am i summing this up correctly? Higher gas prices expected and a lot more people going back to work?

hellyes!

[jmhartt]

What kind of increase in price per barrel should we expect to see with that amount of cuts? And what kind of time frame?

[T_Sebastian]

its up $4.00 already from yesterday...

Just read an articale that is predicting $80 a bbl by 2020.

[Chew]

Great news for a lot of my buddies. Thumbs up.

[Drycreek3189]

its up $4.00 already from yesterday...

Just read an articale that is predicting $80 a bbl by 2020.

It's just too **** bad that I'm too old to take advantage of it, but I'm hoping you young guys can see one more boom. I'll give you the same advice I gave my son years ago. Save your money !