Where is barking punpipi and uncle lim. Give hopeless hope now cabut lari. Dreaming for 1.00 hahaha

OIL PRICE WILL REMAIN HIGH FOR YEARS TO COME

Six years after former BP chief executive Bob Dudley said that “the industry needs to prepare for lower for longer,” a growing number of major investment banks now expect “higher for longer” oil prices.

Rebounding global oil consumption amid tight supply—contrary to some forecasts last year that indicate demand may have peaked or was close to its peak—as well as years of underinvestment in new supply following the 2015 crash, have prompted Wall Street banks to raise significantly their projections for oil prices in the short and medium term.

Oil prices have hit multi-year highs in recent days, with WTI Crude at its highest since 2014 and Brent Crude at the highest level since October 2018.

Even after the latest rally, prices still have headroom to rise further, many major investment banks believe.

Goldman Sachs, for example, sees Brent hitting $90 per barrel at the end of this year, up from $80 expected earlier. The key driver of Goldman’s higher forecast is global oil demand recovery amid still a weaker supply response from non-OPEC+ oil producers.

The investment bank also sees sustained higher oil prices in the coming years.

Fundamentals warrant higher oil prices, and the bank’s forecast for the next several years is $85 a barrel, Damien Courvalin, Head of Energy Research & Senior Commodity Strategist at Goldman Sachs, told CNBC earlier this month.

Oil demand will set record highs next year and the year after that, and we need to see a ramp-up in investment, he said.

“We’re facing potential multi-year deficits and the risk of significantly higher prices,” Courvalin told CNBC.

RBC Capital Markets is also bullish on oil prices in the medium term.

“We maintain the view that we have held all year - that the oil market remains in the early days of a multi-year, structurally strong cycle,” RBC analyst Michael Tran said in a note in mid-October carried by Reuters.

Last week, Morgan Stanley raised its long-term oil price outlook up by $10 per barrel to $70. BNP Paribas expects oil prices at nearly $80 a barrel in 2023, Bloomberg notes.

UBS expects oil prices “to remain well supported into next year,” with the market staying tight at least until the first quarter of 2022, due to the lowest inventories in OECD since 2015, only gradual easing of the OPEC+ cuts, and oil demand hitting 100 million barrels per day (bpd) in December 2021.

“While demand is expected to increase as well next year, additional OPEC+ and US production should result in a balanced oil market. With more OPEC+ members struggling to increase production in line with the group’s plans, its additions in 2022 will likely be only a fraction of the currently intended 3.76mbpd increase, which should prevent an oversupplied market, in our view,” Giovanni Staunovo, Dominic Schnider, and Wayne Gordon wrote on Friday.

“So bearing all of this in mind, we now expect Brent to trade at USD 90/bbl in December and March, before leveling off to USD 85/bbl for the rest of 2022,” UBS’s analysts added.

Beyond 2022, oil prices are likely to remain structurally higher as oil demand will continue to rise while new supply would lag consumption growth, primarily due to five years of underinvestment and the pressure on oil majors to cut emissions and investments in new supply, analysts say.

Global annual upstream spending needs to increase by as much as 54 percent to $542 billion if the oil market is to avert the next supply shortage shock, Moody’s said earlier this month.

“Our analysis demonstrates that upstream companies will need to increase their spending considerably for the medium term to fully replace reserves and avoid declines in future production,” Moody’s Vice President Sajjad Alam said.

The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022, Greg Hill, president of U.S. oil producer Hess Corp, said at the end of September.

Last year, global upstream investment sank to a 15-year low of $350 billion, according to estimates by Wood Mackenzie from earlier this year.

OIL PRICE WILL REMAIN HIGH FOR YEARS TO COME

Six years after former BP chief executive Bob Dudley said that “the industry needs to prepare for lower for longer,” a growing number of major investment banks now expect “higher for longer” oil prices.

Rebounding global oil consumption amid tight supply—contrary to some forecasts last year that indicate demand may have peaked or was close to its peak—as well as years of underinvestment in new supply following the 2015 crash, have prompted Wall Street banks to raise significantly their projections for oil prices in the short and medium term.

Oil prices have hit multi-year highs in recent days, with WTI Crude at its highest since 2014 and Brent Crude at the highest level since October 2018.

Even after the latest rally, prices still have headroom to rise further, many major investment banks believe.

Goldman Sachs, for example, sees Brent hitting $90 per barrel at the end of this year, up from $80 expected earlier. The key driver of Goldman’s higher forecast is global oil demand recovery amid still a weaker supply response from non-OPEC+ oil producers.

The investment bank also sees sustained higher oil prices in the coming years.

Fundamentals warrant higher oil prices, and the bank’s forecast for the next several years is $85 a barrel, Damien Courvalin, Head of Energy Research & Senior Commodity Strategist at Goldman Sachs, told CNBC earlier this month.

Oil demand will set record highs next year and the year after that, and we need to see a ramp-up in investment, he said.

“We’re facing potential multi-year deficits and the risk of significantly higher prices,” Courvalin told CNBC.

RBC Capital Markets is also bullish on oil prices in the medium term.

“We maintain the view that we have held all year - that the oil market remains in the early days of a multi-year, structurally strong cycle,” RBC analyst Michael Tran said in a note in mid-October carried by Reuters.

Last week, Morgan Stanley raised its long-term oil price outlook up by $10 per barrel to $70. BNP Paribas expects oil prices at nearly $80 a barrel in 2023, Bloomberg notes.

UBS expects oil prices “to remain well supported into next year,” with the market staying tight at least until the first quarter of 2022, due to the lowest inventories in OECD since 2015, only gradual easing of the OPEC+ cuts, and oil demand hitting 100 million barrels per day (bpd) in December 2021.

“While demand is expected to increase as well next year, additional OPEC+ and US production should result in a balanced oil market. With more OPEC+ members struggling to increase production in line with the group’s plans, its additions in 2022 will likely be only a fraction of the currently intended 3.76mbpd increase, which should prevent an oversupplied market, in our view,” Giovanni Staunovo, Dominic Schnider, and Wayne Gordon wrote on Friday.

“So bearing all of this in mind, we now expect Brent to trade at USD 90/bbl in December and March, before leveling off to USD 85/bbl for the rest of 2022,” UBS’s analysts added.

Beyond 2022, oil prices are likely to remain structurally higher as oil demand will continue to rise while new supply would lag consumption growth, primarily due to five years of underinvestment and the pressure on oil majors to cut emissions and investments in new supply, analysts say.

Global annual upstream spending needs to increase by as much as 54 percent to $542 billion if the oil market is to avert the next supply shortage shock, Moody’s said earlier this month.

“Our analysis demonstrates that upstream companies will need to increase their spending considerably for the medium term to fully replace reserves and avoid declines in future production,” Moody’s Vice President Sajjad Alam said.

The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022, Greg Hill, president of U.S. oil producer Hess Corp, said at the end of September.

Last year, global upstream investment sank to a 15-year low of $350 billion, according to estimates by Wood Mackenzie from earlier this year.

Steady

Go Velesto

Wah! Brent usd 86. Break 87 terus ke usd 90. Possibility Armada break 0.60c. Go Armada

High fuel prices at the pump would likely extend into next year, President Joe Biden has warned, blaming the price rise on OPEC policies.

“My guess is you’ll start to see gas prices come down as we get by and going into the winter -- excuse me, into next year, in 2022,” the president at a public event in response to a question on inflation, as quoted by Bloomberg. “I don’t see anything that’s going to happen in the meantime that’s going to significantly reduce gas prices.”

“Gas prices relate to a foreign policy initiative that is about something that goes beyond the cost of gas,” Biden also said, adding. “That’s because of the supply being withheld by OPEC, and so there’s a lot of negotiation that is—there’s a lot of Middle Eastern folks who want to talk to me,” he said. “I’m not sure I’m going to talk to them, but the point is it’s about gas production. There’s things we can do in the meantime, though.”

The president, however, stopped short of going into the specifics of these “things” that can be done to push prices lower.

The White House has, several times since the start of the year, approached OPEC—and Saudi Arabia separately—in an attempt to make the cartel add more supply to international markets. These attempts have so far failed to yield any results. These latest claims that high American gas prices were the responsibility of OPEC are unlikely to make the cartel more cooperative.

Meanwhile, the administration has also approached the U.S. oil industry, too, to ask for more oil. That move has also failed to produce any results for American drivers as prices creep closer to $4 per gallon and in some states, exceed it. According to a Reuters report, the approach by the White House had not been met eagerly by the oil industry. In fact, the agency quoted one industry executive as saying there was no chance drillers would heed Biden’s plea for more oil due to his administration’s policies so far.

High fuel prices at the pump would likely extend into next year, President Joe Biden has warned, blaming the price rise on OPEC policies.

“My guess is you’ll start to see gas prices come down as we get by and going into the winter -- excuse me, into next year, in 2022,” the president at a public event in response to a question on inflation, as quoted by Bloomberg. “I don’t see anything that’s going to happen in the meantime that’s going to significantly reduce gas prices.”

“Gas prices relate to a foreign policy initiative that is about something that goes beyond the cost of gas,” Biden also said, adding. “That’s because of the supply being withheld by OPEC, and so there’s a lot of negotiation that is—there’s a lot of Middle Eastern folks who want to talk to me,” he said. “I’m not sure I’m going to talk to them, but the point is it’s about gas production. There’s things we can do in the meantime, though.”

The president, however, stopped short of going into the specifics of these “things” that can be done to push prices lower.

The White House has, several times since the start of the year, approached OPEC—and Saudi Arabia separately—in an attempt to make the cartel add more supply to international markets. These attempts have so far failed to yield any results. These latest claims that high American gas prices were the responsibility of OPEC are unlikely to make the cartel more cooperative.

Meanwhile, the administration has also approached the U.S. oil industry, too, to ask for more oil. That move has also failed to produce any results for American drivers as prices creep closer to $4 per gallon and in some states, exceed it. According to a Reuters report, the approach by the White House had not been met eagerly by the oil industry. In fact, the agency quoted one industry executive as saying there was no chance drillers would heed Biden’s plea for more oil due to his administration’s policies so far.

Brent most probably will close high today. Hold tight

Petronas retenders back Limbayong fpso project. Believed Armada bidding for this contract also...good news

Wow! Good luck to you Dr Jones. Send my regards to Steven Spielberg..

Walaoeh!! Brent back on feet.

As oil prices hit multi-year highs, some speculative traders are betting on the options market that oil could exceed $100 a barrel by the end of this year and even reach a record $200 per barrel by the end of 2022.

Call options give traders the right—but not the obligation—to buy assets at a certain price, the so-called strike price, by a certain date.

The amounts of call options at triple-digit strikes have soared in recent weeks, suggesting that more speculative traders are attracted by potential quick profits from options trades, which are relatively low-cost ways to speculate on the direction of an asset.

Some “wild” bets such as call options at a $100 per barrel WTI Crude strike by December 2021 or $200 per barrel Brent Crude by December 2022 have been placed in recent weeks, The Wall Street Journal reports, citing data from provider QuikStrike.

As oil prices hit multi-year highs, some speculative traders are betting on the options market that oil could exceed $100 a barrel by the end of this year and even reach a record $200 per barrel by the end of 2022.

Call options give traders the right—but not the obligation—to buy assets at a certain price, the so-called strike price, by a certain date.

The amounts of call options at triple-digit strikes have soared in recent weeks, suggesting that more speculative traders are attracted by potential quick profits from options trades, which are relatively low-cost ways to speculate on the direction of an asset.

Some “wild” bets such as call options at a $100 per barrel WTI Crude strike by December 2021 or $200 per barrel Brent Crude by December 2022 have been placed in recent weeks, The Wall Street Journal reports, citing data from provider QuikStrike.

https://www.thestar.com.my/business/business-news/2021/10/19/petronas-sees-rm20bil-annual-capex-for-upstream

https://www.klsescreener.com/v2/news/view/897205/%E6%B2%B9%E4%BB%B7%E8%8B%A5%E7%A0%B488-%E4%B8%8A%E6%8E%A2100%E7%BE%8E%E5%85%83-%E6%B2%B9%E6%B0%94%E4%B8%9A%E9%80%89%E8%82%A1%E4%B8%8D%E9%80%89%E5%B8%82

Target raised from 0.19 to 0.20c. Oil price 100 is seems reality.

https://www.klsescreener.com/v2/news/view/897205/%E6%B2%B9%E4%BB%B7%E8%8B%A5%E7%A0%B488-%E4%B8%8A%E6%8E%A2100%E7%BE%8E%E5%85%83-%E6%B2%B9%E6%B0%94%E4%B8%9A%E9%80%89%E8%82%A1%E4%B8%8D%E9%80%89%E5%B8%82


Oil price 100 is not a joke but reality. Malaysia will fully open the boarder for tourism start 1st December and also simultaneously by other countries.

Sustain strong unchange. Not like previously.

Relax cool.

EU Natural Gas Rallies 9% Above €100
European gas prices surged 9% to above 100 euros a megawatt-hour, after a pipeline capacity auction held on Monday showed no increase in supplies from Russia either through the Ukrainian pipeline or lines passing through Poland to northwest Europe. Gazprom's data also showed its gas exports declined in the first half of October from the same period in September. The natural gas market took a breath from a record high of 162.125 hit on October 5th after President Vladimir Putin signaled Russia would help Europe to grapple sky-high energy prices by delivering more via Ukraine. Gas prices are up more than 400% so far this year, amid a strong rebound in demand and reduced inventories ahead of the winter season. At the same time, heating demand is expected to increase due to forecasts of below-normal temperatures while wind generation is set to drop.

Heating oil Hits 7-year High
Heating oil futures skyrocketed to $2.6 a gallon, the highest since October 2014, tracking other energy markets higher and are expected to hit household finances as the weather turns colder. Less than 12 million American households rely on heating oil and are concentrated in the US Northeast. Heating oil costs are seen rising 54% from last winter, according to the EIA. Last week, the EIA Petroleum Status Report showed US heating oil inventories increased 0.267 million barrels in the week ending October 8th. Distillate stockpiles, which include diesel and heating oil, went down 0.024 million barrels last week, less than market expectations of a 0.933 million decrease.

90 coming OTW

Brent usd 85+ now..

Walaoeh! Brent trade at usd 0.85+

0.20 mari

Walaoeh!! 0.165 now

Velesto in potential now to shine. They just need to show consecutive qtr profit and give assurance to big institutional players like EPF, Amanah & IB to con't buying like what happened in 2019. Looking forward for good results in up coming qtr and based on the contract awarded + amount of the contracts, I think that's possible now. We just need to be patience until the time is come...pretty soon.

0.80 tak blh kah. 0.80 lagi syiok.

Walaoeh!! 0.60 kah banyak syiok!!!

Pretty soon oil will hit usd 100. Hang on

Walaoeh! Brent touched usd 85

Come on Vele apa tunggu lagi...oil sdh usd84....

Santai dulu...

0il should break usd 85 first and to secure strong position.

2nd half most probably will spike up again..

Meow

Wow! Closed green. Hope tomorrow another spike up.

Most probably oil will break usd 85 by this week...walaoeh!!

Why oil price increase drastically?
Whose fault?

In my opinion I think Joe Biden to blame beside opec+ refused to increase output. During the presidential running he (Joe Biden) firmly promised for green energy transaction but seems his vision failed. This give tremendous impact to USA shale producers. Now world facing energy crisis, shortage of crude oil and coal. Whatsoever winter is approaching fast in other side. Who is the rescuer.....fossil fuel.

Most probably oil will break usd 85 by this week...walaoeh!!

0.50 break ready darling Marble..next what, 0.55?

Walaoeh! Oil usd 83 now..

By see the trend Vele rising slowly. Very climb 0.005c. Slow and steady. Go Velesto

Velesto moving fast today. Volume increase don't miss out this opportunity...

Walaoeh!

PUTRAJAYA: Kerajaan bersetuju untuk membenarkan rakyat Malaysia yang lengkap dua dos vaksinasi melakukan perjalanan ke luar negara tanpa melalui MyTravelPass Jabatan Imigresen Malaysia (JIM).
Perdana Menteri, Datuk Seri Ismail Sabri Yaakob berkata, kebenaran itu sekali gus menyaksikan semua rakyat Malaysia boleh ke luar negara termasuk untuk aktiviti pelancongan.

PUTRAJAYA: Kerajaan bersetuju untuk membenarkan rakyat Malaysia yang lengkap dua dos vaksinasi melakukan perjalanan ke luar negara tanpa melalui MyTravelPass Jabatan Imigresen Malaysia (JIM).
Perdana Menteri, Datuk Seri Ismail Sabri Yaakob berkata, kebenaran itu sekali gus menyaksikan semua rakyat Malaysia boleh ke luar negara termasuk untuk aktiviti pelancongan.

Armada not depend on Petronas tender. Check the past history how many times Armada bid for Petronas tender. If they get Limbayong contract then consider another additional bonus point for us if not... no worries cool chill

Akhirnya! 11 Okt dah boleh rentas negeri
Hasimi Muhamad
Oktober 10, 2021 15:19 MYT
Akhirnya! 11 Okt dah boleh rentas negeri
Menurut Perdana Menteri, kebenaran itu diberikan selepas kadar vaksinasi individu dewasa yang lengkap menerima vaksin telah mencapai 90 peratus pada Ahad. - Gambar fail
PUTRAJAYA: Rentas negeri akhirnya dibenarkan berkuat kuasa pada 11 Oktober selepas hampir sembilan bulan kerajaan melarang aktiviti tersebut susulan penularan pandemik COVID-19.
Berita gembira itu diumumkan oleh Perdana Menteri, Datuk Seri Ismail Sabri Yaakob dalam Sidang Media Khas di Bangunan Perdana Putra, termasuk kebenaran untuk pulang ke kampung halaman.
Menurut Perdana Menteri, kebenaran itu diberikan selepas kadar vaksinasi individu dewasa yang lengkap menerima vaksin telah mencapai 90 peratus pada Ahad.

Akhirnya! 11 Okt dah boleh rentas negeri
Hasimi Muhamad
Oktober 10, 2021 15:19 MYT
Akhirnya! 11 Okt dah boleh rentas negeri
Menurut Perdana Menteri, kebenaran itu diberikan selepas kadar vaksinasi individu dewasa yang lengkap menerima vaksin telah mencapai 90 peratus pada Ahad. - Gambar fail
PUTRAJAYA: Rentas negeri akhirnya dibenarkan berkuat kuasa pada 11 Oktober selepas hampir sembilan bulan kerajaan melarang aktiviti tersebut susulan penularan pandemik COVID-19.
Berita gembira itu diumumkan oleh Perdana Menteri, Datuk Seri Ismail Sabri Yaakob dalam Sidang Media Khas di Bangunan Perdana Putra, termasuk kebenaran untuk pulang ke kampung halaman.
Menurut Perdana Menteri, kebenaran itu diberikan selepas kadar vaksinasi individu dewasa yang lengkap menerima vaksin telah mencapai 90 peratus pada Ahad.

Buckle up your seatbelt...Vele coming soon!!!