By Bloomberg | 4 August 2015
NEW YORK: The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. Hedge funds reduced bullish bets to the lowest level in five years as oil capped the worst month since the financial crisis. The net-long position in West Texas Intermediate contracted 7 percent in the seven days ended July 28, US Commodity Futures Trading Commission data show.
Speculators curbed their bullish stance in Brent, the global benchmark, by the most in a year.
BP Plc said oil prices will be lower for longer and Royal Dutch Shell said it’s preparing for a prolonged downturn. Exxon Mobil and Chevron reported their worst earnings in years. Supply will outpace demand by 1 million barrels a day through 2016, according to Bank of America.
“The speculators are looking at the bad earnings and the oil executives’ negative tone of commentary, and taking it as a bearish sign,” Phil Flynn, senior market analyst for Price Futures Group in Chicago, said by phone July 31.”Everybody is running out of this market in droves.”
WTI dropped $2.38, or 4.7 per cent, to $47.98 a barrel on the New York Mercantile Exchange in the period covered by the CFTC report. Futures slid $1.13 to $45.99 a barrel in electronic trading at 9:25 am.
Exxon, the biggest US energy producer, reported July 31 its lowest profit since 2009 while No 2 Chevron posted its worst results in 12 years.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
