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Russia's Gazprom forecasts oil at 70 dollars a barrel in the short term

Friday, October 17th 2014 - 06:53 UTC
Full article 20 comments

The global oil market slump looks likely to continue, with prices possibly nearing 70 dollars a barrel in the short term, an official of Russian gas producer Gazprom said. Crude fell more than on dollar a barrel on Thursday to a four-year low below 83 a barrel as growing concerns over the global economy stretched a four-month rout. Read full article


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  • Briton

    70 dollars a barrel

    50 Dollars would be better.

    Oct 17th, 2014 - 01:09 pm - Link - Report abuse 0
  • Nostrum of NostrolL


    I read the other day that to be profitable, the Falkland oil fields had to have a base oil price of 80. It's at 83 now...

    For the USA shale to be profitable prices need to be at least 72 dollars.

    Most now expect 65 dollars as a future mid-term price.

    There goes the so-called economic boom in the USA... and the Falklands will enter a mega-depression!

    Argentina as usual outsmarting everyone... we knew prices would fall dramatically so now we can buy cheap oil without having to use our own reserves. In the 2020's, when oil rises above 220 dollars, then we will welcome exploitation of Vaca Muerta... meanwhile the other countries will have used a lot of their reserves, and we will be one of the few countries in the world to have ours untapped.

    The world will have to beg us.

    Oct 17th, 2014 - 01:18 pm - Link - Report abuse 0
  • Captain Poppy

    Are you druck on your mommas tit juice again? Where have you been hiding.......nustled in momma's breasts or poppa's crotch? It must suck to be stuck in your mommies basement with intermittent access to the internet knowing the world is passing you by.
    Stick to reality tranny is your estrgen shots going? Did you find any considering Argentina is running out of all sorts of meds. Sucks be be on dialysis in Argentina.
    Iran, Russia and Venezuela will be a dead cow low before the USA oil boom feel the impact.....and vaca muerta.....will never be revived.....for starters Argentina is too stupid to be able to do it on your own!!!

    Does your father still piss on you as he puts you on your knees and tells you it is raining?

    Oct 17th, 2014 - 01:52 pm - Link - Report abuse 0
  • GeoffWard2

    Everybody's oil-price drop is largely the result of fracking in the US.

    Oct 17th, 2014 - 04:17 pm - Link - Report abuse 0
  • Briton

    By the 2020s The world will have to beg us,

    beg you to get lost , by the 2020s we may well have found an

    Oct 17th, 2014 - 06:12 pm - Link - Report abuse 0
  • Captain Poppy

    A quite breezy read:

    ”Only about 4 percent of U.S. shale oil production needs prices above $80 for drillers to break even, the International Energy Agency said today in its monthly oil market report. Producers are getting more oil per dollar spent drilling, driving costs down as much as $30 a barrel since 2012, Morgan Stanley (MS) analyst Adam Longson said in a report yesterday.”

    Oct 17th, 2014 - 06:16 pm - Link - Report abuse 0
  • Chicureo

    This is HORRIBLE for petroleum based economies as well as those failing economies desperate for future new petroleum revenues. In South America, it will hurt in Ecuador, Peru, Colombia, and Bolivia. It will will severely cause pain in Brazil, but in Argentina....... Oh the suffering, oh the wailing, oh the loss of under the table funds

    Oct 17th, 2014 - 06:53 pm - Link - Report abuse 0
  • Captain Poppy

    In Argentina NO ONE will touch Vaca Muerta. As the shale costs are dropping well under 60 a barrel........Argentina stills remains well over the 85 a barrel mark. Vaca Muerta will be collecting dust webs for some time to comes. One positive note for Argentina, the petro import costs will drop for them.

    Oct 17th, 2014 - 07:15 pm - Link - Report abuse 0
  • yankeeboy

    Toby doesn't understand market economics at all. Poor thing.

    He also is so illogical it is laughable, I am not sure why the same argument he uses for the Falklands and the USA oil reserves isn't the same as he's using for VM? Is the oil going somewhere?
    The problem he doesn't quite get is no matter what the current price of Oil and Gas are now Argentina can't afford to buy it.
    Not at any price
    No matter what you need U$ that they just don't have and can't get.

    As I've said USA being self sufficient will play havoc in the world. We can sit back and watch without worry.

    Oct 17th, 2014 - 08:01 pm - Link - Report abuse 0
  • Nostrum of NostrolL


    You buffoon... only 1% of fracking suffers under 90, 4% under 80, but 15% under 75 and under 72 it's full 25% !!! That's the threshold t make whole enterprise unviable for banks when 1 in 4 of anything fails!!

    Look at the supreme buffoon at #9... what country in world history has not been able to afford energy at “any price”? Does that creature posting even understand what complete nonsense he is redacting??

    Absolutely no one in Argentina gives a fly about the US oil industry. It is about as relevant as firewood is to a dolphin.

    Oct 18th, 2014 - 04:14 am - Link - Report abuse 0
  • Anglotino

    “Absolutely no one in Argentina gives a fly about the US oil industry”

    And yet it's having so much influence on Argentina. Making imports cheaper and making Vaca Muerta less profitable.

    Not caring and not being affected are not the same.

    Oct 18th, 2014 - 10:16 am - Link - Report abuse 0
  • Nostrum of NostrolL

    Oh please, Argentina influence food prices in the USA and in YOUR country too... doesn't mean what happens with Argentina's crop will matter to you when you go to the supermarket!!

    Same here, with or without the suicidal US fracking, we would still get gas at the station.

    Oct 18th, 2014 - 01:55 pm - Link - Report abuse 0
  • Captain Poppy

    “Absolutely no one in Argentina gives a fly about the US oil industry”

    And yet the Argentina leadership stand in line at Home Depot to purchase knee pads by the case in order the beg American Oil Business to “drill for them” in Vaca Muerta because RG's are too stupid, poor and an all around general asshole.

    Can I ship you some estrogen tranny boi? Still have 5 ships in the port waiting for payments?

    Oct 18th, 2014 - 03:20 pm - Link - Report abuse 0
  • ilsen

    This is bad news for Venezuela. The Chavistas were riding high when oil was $90+ but still managed to ruin the economy. This will cause more pain and chaos now.
    Hopefully it could cause the downfall of the Chavistas, but somehow I doubt it. The whole administration is operating so far outside of the normal boundaries of democracy that it will take something seismic to shift them.
    No, this price drop will just cause more misery in the street. Expect Maduro to announce it as all part of a foreign conspiracy against him, then exploit it to introduce more draconian soviet style measures.

    Oct 18th, 2014 - 05:01 pm - Link - Report abuse 0
  • Briton

    Apparently a very clever argie has indeed solved the oil/petrol problem,

    he has decided to put water in the tank, and a touch of washing liquid...lolol

    Remarkable what !

    Oct 18th, 2014 - 06:33 pm - Link - Report abuse 0
  • GeoffWard2

    I hear tell that if you add just ordinary sugar it makes your gas last so much longer, Brit. But don't pass it on - everybody'll be doin' it.

    Oct 18th, 2014 - 06:49 pm - Link - Report abuse 0
  • Briton

    They like nicking

    Oct 18th, 2014 - 07:09 pm - Link - Report abuse 0
  • yankeeboy

    with or without the suicidal US fracking, we would still get gas at the station.

    Don't be too sure about that. Even when I lived there and you refined most of your own oil there were long lines and sometimes (many times) stations without gas.
    Just wait
    You've not seen anything yet.

    Oct 18th, 2014 - 11:45 pm - Link - Report abuse 0
  • ilsen

    As usual Nostril has an over inflated sense of the importance of Argentina's role in the global economy. Must have been sucking on the government propaganda teat as usual.

    Oct 19th, 2014 - 12:38 am - Link - Report abuse 0
  • Captain Poppy

    The impact and significance Argentina has on the world economy is tantamount to one single earthworm and it's impact on the world food chain and it's place on the food pyramid.

    Oct 20th, 2014 - 11:49 am - Link - Report abuse 0

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