US Crude up due to the surge in job openings.
http://www.cnbc.com/id/102564300

I really don't know how effective is their strategy to flood the market trying bring down the oil price. Having said that, i personally thinks that it gave the Brent a harder blow compare to the WTI US Crude. The gap is narrowed to only USD 5 dollars.
OPEC needs to be smarter than this!

Wall Street speculations etc. is definitely playing a role in this crisis.

Despite report crude inventory in the states went up, the crude is still post a bullish trend. http://www.cnbc.com/id/102587037

I personally dont see strong fundamentals though for this long term bull run with current oil out put, iran's uplift , etc.

What are your thoughts guys?

Yes, there are too much volatility.
Rig counts in states continues to fall but inventory still show extra.
Never the less, I am hoping a bullish chart.


This post has been edited by stanzai: Apr 17 2015, 01:46 AM

I din really know that news, but I am not surprised. I am still hearing people get laid off constantly here in the states.

I did ask my friends about the O&G market condition in Msia (especially the upstream contractors). They told is not doing good, but at least most of them are still retaining their job, most of the lay off target the contract staffs at the moment.
Operators on the other hand is not affected badly,I hear is business as usual for them.

So I guess the main difference here is definitely the operating cost. i would say it is only 1/3 or even less the operating cost when compared to that in the states/europe.

But upstream drilling companies like SLB,Halliburton/baker is a bit different, because their operating cost relatively high and consistent throughout the world, so no one is immune. Imagine, no ones want to drill but still maintaining high operating cost.

But of course, if the market continues to be shitty then mass lay off every where is imminent .