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Saudi Arabia To Flood Oil Markets With An Extra 2.6 Million Bpd
By Irina Slav - Mar 10, 2020, 10:15 AM CDT
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Saudi Arabia
Saudi Arabia plans to increase its crude oil production from below 10 million bpd currently to 12.3 million bpd next month, the company said in a filing with the Saudi stock exchange.

According to the filing, Aramco “will provide its customers with 12.3 million barrels per day (MMBD) of crude oil in April; i.e., an increase of 300 thousand barrels per day over the Company’s maximum sustained capacity (MSC) of 12 MMBD.”

Yet, according to data cited by Reuters a day earlier, the Kingdom was pumping just 9.7 million barrels daily at the moment, in over-compliance with its OPEC+ commitment that was thrown out the moment Russia refused to take part in deeper cuts.

Reuters yesterday reported, quoting unnamed sources, that Saudi Arabia had plans to boost production above 10 million bpd in April. The source said April production will be much higher than 10 million bpd, maybe close to 11 million bpd.

Yet according to the filing quoted by the AP, “The company has agreed with its customers to provide them with such volumes starting 1 April 2020. The company expects that this will have a positive, long-term financial effect.”

This weekend, after the OPEC+ talks ended in divorce, Saudi Arabia announced it will slash its official selling prices for crude by between $6 and $8 per barrel, effective from April. The biggest discounts were offered to buyers in northwestern Europe and the United States.
Related: Why Russia Is Rooting For Bernie Sanders

Whether Saudi Arabia will boost production to 11 million bpd or 12 million bpd inside a month remains to be seen but the world is definitely heading into a deeper glut: Russia will start pumping more from April, too.

“As from 1 April we are starting to work without minding the quotas or reductions which were in place earlier,” Energy Minister Alexander Novak said on Friday, adding “but this does not mean that each country would not monitor and analyze market developments.”

At the time of writing, Brent crude was trading at $37.63 a barrel, with WTI at $34.25 a barrel, both up by around 10 percent from yesterday’s close on the news of more economic stimulus and the decline in the number of new Covid-19 cases in China.

By Irina Slav

SUMMARY

SAPURA ENERGY IS ONE OF THE ARAMCO CONTRACTOR...THIS DEAL IS GOOD FOR SAPURA ENERGY REVENUE...

Ewein is related to PH ..lim guan eng..

Deyyy .....were are talking about global oil price kept droping.. change the united states of america president...donald trump is one of the worst president..Obama 10times better than him..is corona one of the virus created for biological weapon purposed ??


If trump gone for good...the global humanity will in peace...

Sell........n then buy .....else gone with the wind..

Run where ? Coward people run.....look at the figures n numbers ..potencial counter..the only thing..oil price drop like nuisance..

Ya laa..agreed..chaos ...now political some more..aiyooo...hopefully in global matter donald trump passed away..change to democrat team..chaos with this donald duck..wanna blame china for the virus..even so no virus ..he will make sure the oil price went up n down like roller coaster....

Many order book for Sapura Energy project..in jun - september 2020..heard from a realible source..SAPRNG will get another giant project...for now rm5billion project in hand !

Re entry on monday...saprng on sale babeh.... buy went u all gone..take this advantage..next year u all dont get this chance..support saprng..

Tun M as PM...opcom hv chance to fly back

Do not to worry..

Genius..can came up with anything..salute la Tun M..

Huat 1....myeg what happen ?? Profitable n so on..rm1.15...like i said yesterday..u dont listen..at least drop a bit..then recover..but this ..huish...

Buy any livestock such as

QL , Lhi, TpC , Teo Seng..

Dont buy anything related to tony farnandes ( ex owner ..if u see snake n tony feenandes better u hit that guy then the snake.. ).. Good Luck 4 Air Asia..

Limit Up ? Tomorow ?? How can BN form goverment tomorow??

DEYYY...

Till this day.. that is 23 Feb 2020 i think PH is the goverment ..

Ok..lets buy QL ..TP 9.00.. ...TPC...

Long que my brother.....hahaha

Qqq33333..ive made a general statement..no nees to get emotionally involve..answer me this...at supermarket went normal people buy eggs ..did they pick only ql brand only?..people couldnt care ql...or LHi or tpc or etc..they pick eggs only..dont be typical guys just like an eggs ..hehe..

Geary..its not to understand..but u hv to understand this..

..in since 1999 to 2019 how many cases of bird flu?? Hv the number or not..aviation company is prudent to everthing..even 1 cent of fuel uprise the company can lost million..that not just all..lets look about the risk of...currency rate .. for me that im not understand..just look at the paper..how bad the company is been doing..look and compare..

Geary If bird flu occur also....its recover in no time..in a month it recover no need to worry friend..just look at the history record..in aviation it took yearsss to recover..and as we are discussing here ..the price for livestock has been rise up because of the shortage from china and vietnam..

And friend how long people can resist to eat bird n eggs??

Happy weekend my friend..everyday half boiled eggs for my breakfast..peace yo!

Hahahaha..yes sir..khatulistiwa..26 years back ive learn that in school..hahaha yet remember..

Come on livestock shares.....fly ...no need to worry...people will continue to feed their bellys with chicken n eggs...

Huat 1..im very sure u are vegeterian kind of person..were got lelong? Im sure u are a boy that ur parent never bring u to the market..did u know 1 kilo is how much? Dont simply said my friend..just stay at your myeg n pelikan shares....well is also sound pelik or pelikan..dont no la..hahaha..

Come on ..in since 1999 to 2019 how many cases of bird flu?? Hv the number or not..its simply ure only talk about myeg ..hehehe..

If bird flu occur also..its recover in no time ..the price for livestock sure rise up..

And how long people can resist to eat bird n eggs??

Every one eager to invest at gloves company..but the quetion is for how long????.let says thanks God the cure were found..and or one of the investor dump all the share...like he dump all the shares in gloves company in 2003??....the one guy investor i am talking about is the old multi millionare mr koon..so top gloves will go down back at the original price around rm4.28 to rm4.40

Just think does we use gloves at all the time or not?? 

My idea of investment..juzt look around u..people hv to eat right ? 

Sooooo Investor....


Better bought some of LHi..futhermoreI..singapore shortage of resource..so did vietnam and china..so come on..while LHi..price cheap juzt 74sen to resist..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou recession..people are buying eggs......juzt my 2 cent idea ..

Every one eager to invest at dayang..let says oil price drop a litle bit..or a new reserve oil found..or one of the investor dump all the share he have in dayang...like he dump all the shares in gloves company in 2003??....the one guy investor i am talking about is the old multi millionare mr koon.. 

So Better bought LHI..singapore shortage of poultry..so did vietnam and china..so come on..while LHi..price cheap juzt 74sen to resist..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou recession..people are buying eggs......juzt my 2 cent idea ..

Contruction company very risky..have to think about goverment project big big one like high speed train..mrt..high way n so on..

Dont invest n get headache later...Better bought LHI...price cheap juzt 74sen..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou ression..people are buying eggs......juzt my 2 cent idea ..

Air asia ..cheap way to fly..now..did we fly everyday or once in a while???

For my investment idea..let me share before its to late..Better bought LHI...price cheap juzt 74sen..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou ression..people are buying eggs......juzt my 2 cent idea .. 

No need to worry about fuel price..competitor from other..cost to pay to malaysian airport hanger price..recession..highjackers..and missing and blown away air plane by terrorist..

Buy LHI guys...

Bright or not...eventhou using myeg for roadtax n others is a business..but..were use myeg once in a while right ??..

For me..Better bought LHI...price cheap juzt 74sen..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou ression..people are buying eggs......juzt my 2 cent idea ..

Selling power equipment.....good long term business ka??? Juzt asking... for me...Better bought some LHI shares...price cheap juzt 74sen..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou ression..people are buying eggs......juzt my 2 cent idea ..

I think...Better bought LHI...price cheap juzt 74sen..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou ression..people are buying eggs......juzt my 2 cent idea ..

Better bought LHI...price cheap juzt 74sen..revenue of business doing RM Billion..corona or what so ever..people continue to eat..even thou recession..people are buying eggs......juzt my 2 cent idea ..

Before the virus supermax give bonus issue ..so number of share were adding more to the market thats why before this from rm1.53 drop to rm1.29..suddenly covid corona were spread..so did supermax fly to rm1.83..so can this momentum be as long as it could be?? Fly up in the sky ? Sure no is it...so we sit down and look..maintain at rm1.40 to rm 1.55 or down to usual rm1.30 to rm1.40 ..

KFC DISCOUNT RM20 GET 2 SNACK PLATE ..QUE LIKE CRAZY..HAHAHAHA...Go Leong Hup ...Go Go Go !!!...FLY baby FLYyyy !!! FLY to TARGET PRICEEEEE !!!

Perak transit doing well..good management skills...no problem from the top management..petrol station doing so good ..ptrans diversified their business..Well Done Ptrans..

Hahaha..ikan bilis sometime get untung bro..if your ikan bilis get sells at the supermarket..if ikan bilis at night market sure no untung ..

Sapura energy price really cheap price 23.5nickle to 24.5nickle this consider night market price..if oil price recover usd80 to usd usd95 pergallon sure sapura energy fly to 65cent to 90cent..

Can keep some for long term.. warren buffet said buy cheap ..hold then sell high..

LOOK LIKE WANNA DROP SOME MORE...

DOWN BABY DOWN SOME MORE...

BUYING

KPJ take over by?normaly the price will sky rocket.. ang pau chinese new year

is there any relation Ranhill & BN either Pakatan?

BUY BUY BUY...