OPEC Secretary-General Abdullah al-Badri said oil prices may have bottomed out and could rise very soon. He also warned of a risk of a future price spike to $200 a barrel if investment in new supply capacity is too low.
Ya lor kuda pecut Alam best sekali tapi saya trader jadi saya ambil profit dulu 70 sen, bagi rehat dulu. Saya nampak satu kuda lagi O&G sudah nak start engine, mahu switch masuk dulu hehe.
Oil’s surge to bull market seen as temporary jump amid glut
By Bloomberg / Bloomberg | February 4, 2015 : 1:34 PM MYT
(Feb 4): Oil is back! Or maybe not.
After suffering its longest rout in history, crude is on the rebound, entering a bull market yesterday after soaring 24 percent from a six-year low reached in January. Behind the gains is speculation that curbs in investment will cut production.
For all the optimism among traders, firms from Barclays Plc to Societe Generale SA and UBS Group AG say the rally is just temporary because less spending won’t eliminate a glut overnight. Instead of heading back to $100 a barrel, oil could fall as low as $30 because supply surpluses won’t disappear overnight, said Miswin Mahesh, a commodities analyst at Barclays.
“We don’t think we’ve seen the bottom yet,” Giovanni Staunovo, a commodities analyst at UBS in Zurich, said by e-mail on Tuesday. “We expect U.S. commercial crude oil stocks to hit a new 84-year high on Wednesday, while U.S. oil production is likely to stay strong in the near term.”
Brent crude, the international benchmark, rose $3.16 to $57.91 a barrel in London on Tuesday, advancing for a fourth day, as drilling activity plunged in the U.S. and oil companies deepened spending cuts to more than $40 billion since Nov. 1. Hedge funds and other speculators held the largest number of short contracts in the U.S. benchmark in four years last week.
Hello cik annmix saya sudah jual alam 70 sen dan beli icon 69 sen. Sekarang alam masih bawah 70 sen dan icon sudah 71 sen dan akan naik ke 75 sen manakala alam akan ding dong di paras 70 sen. Ini makna switch babe...ambil untung kuda alam tukar ke kuda pecut baru icon wakakaa.
O&G related counters 4th Q result will not be good. Pantech and MHB already being hit by their quarter result. Pantech dropped nearly 7% after announced on 22/1. MHB dropped more than 10% after announced yesterday.....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stonenut
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Posted by stonenut > 2015-01-26 21:05 | Report Abuse
http://allafrica.com/stories/201501261044.html
crude oil would reach usd200 per barrel in couple years time.. read...