Re: Oil price crashes 30% as markets open. Archived Message Posted by Tomski on March 9, 2020, 1:13 pm, in reply to "Oil price crashes 30% as markets open." This crashing of Brent crude makes sense if referencing Tom Luongo's piece. Although I am not sure if this is the black swan we have been waiting for. It could be ... In my worm's eye view it looks like Saudis are declaring war on US frackers. Probably a logical outcome since Russians have said Nyet to Saudis on holding the price up by turning off the tap. I can only assume that Tom has his facts right and that Russians can go down to $20 pb and Saudis need much more for their economy. I've got my popcorn ready Message Thread: "Look! Up in the sky! It's a bird! It's a Black Swan!" - Tomski March 8, 2020, 10:04 pm Wish I understood what Tom's on about; especially that weird cartoon at the end. NOM - Rhisiart Gwilym March 8, 2020, 11:33 pm I am shocked, shocked ... - Tomski March 9, 2020, 12:07 am Ah, Capitaine Renault, I presume?....nm - Keith-264 March 9, 2020, 9:28 am There was a Casablanca in my soup : ) - Tomski March 9, 2020, 10:31 am Oil price crashes 30% as markets open. - Ken Waldron March 9, 2020, 2:33 am Re: Oil price crashes 30% as markets open. - Tomski March 9, 2020, 1:13 pm Dmitry Orlov says that Rosneft produces oil for $2.6/bbl, and has a 1.8 reserves replacement rate, - Rhisiart Gwilym March 9, 2020, 2:54 pm Confirmed by RT ... - Tomski March 9, 2020, 3:06 pm   Searching