Home / oil price / Johnnie St. Vrain: Tank cars await oil price increase quoting : CNBC

Johnnie St. Vrain: Tank cars await oil price increase quoting : CNBC

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“As oil prices decreased, not as many tank cars (and they are all tank cars) were needed,” Ron Margulis, who handles communications for OmniTRAX, told me via email.
Miles of empty tank cars — such as these seen near Weld County Road 32 in Mead on Saturday — are sitting on Great Western Railway tracks in southwestern Weld County.
Today, it’s tank cars, not carrying oil anywhere.
Did I just coincidentally see different but similar train cars?
( Johnnie St. Vrain / Longmont Times-Call )Dear Johnnie: I sometimes drive from Longmont to Greeley, and the train has caught my eye.

referring to

OPEC, Russia head to Texas for an away game in oil price wars

OPEC, Russia head to Texas for an away game in oil price wars*/

“Certainly, the Permian and unconventional play brings a new dimension to the marketplace, and it’s just a question of how OPEC intends to respond to that.”
That resulted in oil collapsing into the $20s per barrel after Russia and members of the OPEC kept pumping at record levels.
Some analysts see a collision coming between shale and OPEC if the U.S. industry puts enough oil on the market to push the price below $50.
OPEC turned to the new production-driven strategy after a failed plan to let the market set prices.
Exxon Mobil chairman and CEO Darren Woods told CNBC this week that OPEC has the lever of low costs, while the unconventional drilling business is driven by economics and market prices.

collected by :Jack Alex

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