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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (108417)11/13/2014 2:15:50 AM
From: Snowshoe  Respond to of 218068
 
>>It was the jump on US petroleum products exports that prompted the Saudis to drop oil prices<<

I don't buy your theory. IMO, Team USA makes good money by importing crude oil and exporting refined products for reasons such as:

1) Excess refinery capacity (due to flat domestic demand for various reasons including economic recession, better gasoline mileage, younger Americans less likely to drive, and ongoing switch away from heating oil to natural gas).

2) Relatively cheaper domestic natural gas for running refineries, compared to much more expensive natural gas elsewhere.

3) Growing demand for refined products in nearby countries like Brazil and Columbia.



To: elmatador who wrote (108417)11/13/2014 2:59:39 AM
From: Elroy Jetson  Read Replies (1) | Respond to of 218068
 
I also don't agree with these explanations of recent Saud pricing behavior.

It was totally new and didn't seem to correlate well with any of the proposed "reasons".

It's interesting they felt the need to deny certain motivations for their pricing behavior, yet still provide no alternate explanation.


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