3rd quarter stock build slows to 1.6m per week in 2015. Demand 2016 To grow 1.2m yoy per day down from 1.5m. Non OPEC to drop By at least 600k per Day. If Iran comes back And enters the Market and manages yo reach 500k sometime in 2016 That means We are in a situation where supply Is Just slightly ahead of demand. With demand to rise in 2017 again and the natural decline of conventional Oil wells averaging 6.5 % market should balance 2016/2017. Believe Oil to rise late 2016-2017
Interesting reading. Suggests AsÃan demand India in particular is Going to grow dramatically. Oncg must be looking at Ireland !!!!
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But as low-cost Middle Eastern producers regain market share, the IEA warned, the risk of over-dependence on the region rises again. And with oil demand falling in developed economies as renewable energy sources gain ground (the IEA predicts combined U.S., Japanese and E.U. oil demand will fall by 10 million b/d by 2040), it’s the rising economies of Asia that will be most acutely exposed.
“A concentration of global supply would be accompanied by elevated concerns about energy security, with Asian consumers… particularly vulnerable,†the IEA said.
By 2040, it expects China’s oil imports to be five times those of the U.S., while India’s will “easily exceed†the European Union’s.
Agree totally with You Phonner. I Would still add that Jimmy could clear up all doubts by explaining why he has such a Big interest in Bad mouthing Providence. After all he has no shares in company. I Have shares in the Company and it has been a terrible investment to date and I Believe a combination of erroneous management decisions and bad market environment/luck Have US where we are. So If Jimmy could clear up the matter to us By explaining his deep interest in Providence it Would be great. I imagine that given Jimmy's expert knowledge in the Oil sector he must Have shares in other Oil companies. Maybe he might tell us which ones. We can then Go To the chat sites of those other oil companies and See if Jimmy spends so much time praising and commenting on these other companies. I doubt it somehow. As for negative comments from other participants it seems that many are warranted from weary and disappointed investors. However some appear to be either spitefull ( quite happy wallowing in the present pain we shareholders are suffering) or designed to further erode confidence in company
Agree totally with you Sharemate and Annovas. Jimmy has no shares as he admitted before on this billboard. Why would anybody with no shares in a company spend so much time writing about a company that he has no shares in. Does Jimmy write about every company in the World or does he just have an interest in Irish companies or maybe just one Irish E&P company. There are a lot of short sellers playing around with this stock and I find it hard to believe that Jimmy is so interested in the Shareholders of this company that he spends so much time providing us with his indepth analysis. Thanks again Jimmy for you positive comments.
Hello there Phonner. I would say that Putin would love to have a go at Qatar and Saudi Arabia for the backing of ISIS. Howvere I would also suggest that this is possibly a more likely flash point
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