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March 23rd, 2017, 05:04 PM
Houston TX
Legendary Market Wizard
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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xplorer
Thanks S.
Interesting, as my understanding was that Crude Oil stocks were at record high levels because of US shale producers. That was cited as a potential factor for which
OPEC cuts did not appear to have a material impact on stocks.
Yes. As prices have risen due to the OPEC cuts, US (shale) production has increased, partially offsetting the OPEC cuts.
Can you help answer these questions from other members on NexusFi?
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March 24th, 2017, 08:31 AM
Cleveland, OH
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March 24th, 2017, 08:43 AM
Aberdeen/Scotland
Experience: None
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Trading: Crude cl
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Still bearish imo. I do wonder what the percentage of drilled wells actually produce in the end is though.
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March 24th, 2017, 08:53 AM
Houston TX
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ron99
I believe that is an incredibly misleading chart, and the reason statistics gets such a bad name at times. Reading the article it appears that the grey and black lines, in the lower half of the chart are figures PER MONTH, while the "uncompleted line" is CUMULATIVE. Hence the chart is comparing apples and oranges, but pretending the oranges are actually apples! There is several ways they could have tried to show this information in a graphic, but the one they picked is disingenuous.
March 24th, 2017, 09:00 AM
Aberdeen/Scotland
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Trading: Crude cl
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SMCJB
I believe that is an incredibly misleading chart, and the reason statistics gets such a bad name at times. Reading the article it appears that the grey and black lines, in the lower half of the chart are figures PER MONTH, while the "uncompleted line" is CUMULATIVE. Hence the chart is comparing apples and oranges, but pretending the oranges are actually apples! There is several ways they could have tried to show this information in a graphic, but the one they picked is disingenuous.
Well spotted
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March 24th, 2017, 01:13 PM
Houston TX
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24-Mar-2017 01:00:07 PM - US OIL DRILLING RIG COUNT UP 21 AT 652 (UP 280 VS YEAR AGO) IN WEEK TO MARCH 24 -- BAKER HUGHES
March 26th, 2017, 11:24 AM
Sofia Bulgaria
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SMCJB
I believe that is an incredibly misleading chart, and the reason statistics gets such a bad name at times. Reading the article it appears that the grey and black lines, in the lower half of the chart are figures PER MONTH, while the "uncompleted line" is CUMULATIVE. Hence the chart is comparing apples and oranges, but pretending the oranges are actually apples! There is several ways they could have tried to show this information in a graphic, but the one they picked is disingenuous.
Yes it is cumulative and represents the delta between the lower two lines. For me it looks Ok, as these wells are prepared and even if the drilling stops they will have years untill all drilled wells become working ones.
March 26th, 2017, 06:58 PM
Houston TX
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Not sure what the relevance of this is (if any!), but the 10 Day Average True Ranges of both RB and HO are at multi year lows!
March 27th, 2017, 02:07 AM
Aberdeen/Scotland
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Trading: Crude cl
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Deleted
March 27th, 2017, 05:52 PM
Aberdeen/Scotland
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SMCJB
Not sure what the relevance of this is (if any!), but the 10 Day Average True Ranges of both RB and HO are at multi year lows!
What does RB and HO stand for ?
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Last Updated on June 3, 2024