Crude Oil Price Drops 10%

[bushtucker]

don't forget, if the petrol prices keep on falling, the govt collects lesser taxes and the oil companies themselves make lesser profit.

if prices are high, it is a win-win situation for both.

 

[TracyTan866]

don't forget, if the petrol prices keep on falling, the govt collects lesser taxes and the oil companies themselves make lesser profit.

if prices are high, it is a win-win situation for both.

not really. I think petrol tax is fixed for each litre regardless of price

 

[bushtucker]

not really. I think petrol tax is fixed for each litre regardless of price

sorry my bad. you're right.

http://www.exxonmobil.com.sg/AP-English/energy_fuelpricing.aspx

excise duties and GST

Taxes and duties make up about 30 percent of pump prices. The petrol excise duty in Singapore is set at a rate of $0.41 per litre for 92- and 95-octane petrol, and $0.44 per litre for petrol rated 97 octane and above. As with all other products, there is the additional seven per cent GST charge.

 

[frenchbriefs]

The last time oil crashed from $140 to 45 was back in 2009. Oil is now at 69. Why is OPEC trying to crash the price of oil?is there a play here?us shale oil market cannot stand low oil prices forever. Russia is getting slaughtered.I have a feeling oil prices cannot stay low forever.thinking of moving some of my portfolio into oil.OPEC is controlling oil prices.they can raise prices by cutting production.or let it fall.

 

[Leckmichamarsch]

The last time oil crashed from $140 to 45 was back in 2009. Oil is now at 69. Why is OPEC trying to crash the price of oil?is there a play here?us shale oil market cannot stand low oil prices forever. Russia is getting slaughtered.I have a feeling oil prices cannot stay low forever.thinking of moving some of my portfolio into oil.OPEC is controlling oil prices.they can raise prices by cutting production.or let it fall.

more n more solar n wind power will reduce consumption of crude oil
down with the sheikhs

 

[syed putra]

The last time oil crashed from $140 to 45 was back in 2009. Oil is now at 69. Why is OPEC trying to crash the price of oil?is there a play here?us shale oil market cannot stand low oil prices forever. Russia is getting slaughtered.I have a feeling oil prices cannot stay low forever.thinking of moving some of my portfolio into oil.OPEC is controlling oil prices.they can raise prices by cutting production.or let it fall.

OPEC does not control the price if oil anymore. There is russia and the huge amount from us shale. OPEC if they cut production, their government spending may kapoots, so need to maintain for money. So now they hope some shale oil production concession may close if oil below USD70, which will translate to higher price later on. But it will be difficult especially with china growth rate slowing.

 

[frenchbriefs]

more n more solar n wind power will reduce consumption of crude oil
down with the sheikhs

Yeah unfortunately that is never going to happen as much as I like solar power...less than 3% of world's energy comes from sola
R and wind.

 

[frenchbriefs]

OPEC does not control the price if oil anymore. There is russia and the huge amount from us shale. OPEC if they cut production, their government spending may kapoots, so need to maintain for money. So now they hope some shale oil production concession may close if oil below USD70, which will translate to higher price later on. But it will be difficult especially with china growth rate slowing.

i think opec still control the oil market,if not why the market fall 10percent when they announce they not cutting production.oil has already fallen by 38percent from peak.....that means their revenues have fallen by 1/3rd imagine if all ur gdp comes from oil....this is costing them alot of money to keep oil cheap,its also costing russia and iran alot of money.they is trying to kill USA.

keeping oil price at 80 to 90 means alot of US shale oil projects still can survive,that means OPEC is no longer on US's side.

 

[frenchbriefs]

http://www.bloomberg.com/news/2014-...heap-that-americans-won-t-profit-from-it.html

 

[crossroads]

Oil price drop

It appears Australia petrol prices have come down by 10 cents. Sinkieland how?

 

[Cestbon]

Re: Oil price drop

SG fuel tax 29% plus another 7% GST. That mean 36% fuel price are tax.
That double taxation. Tax on tax.

 

[syed putra]

Re: Oil price drop

The funny thing is, oil price drop, all asian currency also drop. Like its the end of the world. I thought we should all be rejoicing.

 

[Cestbon]

Re: Oil price drop

Consumer should be happy. Those trader bet on future oil price are in deep shit.
Those trader that already commited in contract eg. buying oil at fix price at US$100/barrel is really in deep shit hole.

 

[Seee3]

Re: Oil price drop

The funny thing is, oil price drop, all asian currency also drop. Like its the end of the world. I thought we should all be rejoicing.

Last time it works this way : oil price drop = us $ rise = other currency drop

It is a cyclical game, don't bother about fundamental or economy - just a trend. Don't know if it still work this way

 

[virus]

Re: Oil price drop

The funny thing is, oil price drop, all asian currency also drop. Like its the end of the world. I thought we should all be rejoicing.

how to rejoice... whorejinx took your $$ and pump into deep sea oil in africa. guess what.. that's out of favor last week. OIL FIRMS are now farked.

another long term investment indeed.

 

[Asterix]

Re: Oil price drop


When oil price drops
Renewables like solar and wind
Also negatively impacted
Solar panel oversupply diminishing
But coincide with this drop
Rally quickly petered out no worries
If you are alert can get out
Not at the top but still got profits


[video=youtube;jZZSVIAtUrs]http://www.youtube.com/watch?v=jZZSVIAtUrs[/video]

 

[danielsim]

Re: Oil price drop

Congrats to those who have shorted oil. Now its time to reap your profits

 

[TracyTan866]

sorry my bad. you're right.

http://www.exxonmobil.com.sg/AP-English/energy_fuelpricing.aspx

excise duties and GST

Taxes and duties make up about 30 percent of pump prices. The petrol excise duty in Singapore is set at a rate of $0.41 per litre for 92- and 95-octane petrol, and $0.44 per litre for petrol rated 97 octane and above. As with all other products, there is the additional seven per cent GST charge.

.......

 

[bigboss]

Agree...don't forget it when next GE comes

Local sinkies are generally forgetful, have short memory or dementia patients. As there are already thousands of foreigners who are now new shitizens and likely papees por lum pars, the next GE may still be just a small knuckle rap to the papees, unlike the recent polls in Taiwan which even sent their President out of office.

 

[nxcwsz]

what do we do next?