Falling oil prices have helped sell a lot of Rolaids lately, particularly in places like Houston where U.S. E&Ps are trying to plan their future drilling commitments, based on uncertain commodities prices in 2015.
On Monday, some NYMEX options traders said they viewed $80 as a bottom, even on the heels of Goldman’s revised bearish oil forecast it released over the weekend that called for $75 West Texas Intermediate (WTI) crude oil prices in Q1 2015 and $70 WTI in Q2.

“From a trader’s standpoint, I wouldn’t see [oil] fall out of bed goin...

Analyst Commentary

Baird Energy Research issued a note 10/29 referring to the OPEC secretary's comments today:

OPEC secretary-general believes lower oil prices will push 50% of tight oil production out of the market. OPEC’s secretary-general Abdalla Salem el-Badri believes that recent declines in oil prices would serve to curb competing global supplies and resolve concerns around oversupply. Speaking at a conference in London today, he expressed that current oil prices would be sufficient to drive 50% of current tight oil out of the market, assuming $90-$100/bbl break-evens, a level higher than IEA and Baird research estimates.  

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