I foresee there will be several talks between Saudi Arabia and Russia in reaching an agreement to cut glut. It is the same just like when pricing has reached above US100 Saudi Arabia and other oil producing countries would reached an agreement to increase production. So, as the issue goes by, i foresee shares price will be in uptrend mode and in zip zap style.
(Reuters) - Saudi Arabia called on Thursday for an emergency meeting of OPEC and non-OPEC oil producers as it aims to reach a fair oil agreement to stabilize the oil market, state news agency SPA reported.
Oil surges 13% on reports that OPEC and allies are working on a deal to cut production amid the coronavirus pandemic Carmen Reinicke Apr. 3, 2020, 10:27 AM
* Oil prices surged Friday, continuing gains from the best day on record Thursday. * US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel Friday, while Brent crude jumped 17% to $34.91 per barrel at its intraday highs. * A Reuters report that OPEC and its allies will meet Monday to discuss a production cut amid the coronavirus pandemic fueled the gains. * Watch oil trade live on Markets Insider. * Read more on Business Insider.
Oil climbed on Friday, extending gains from the best day on record Thursday, after OPEC and its allies said they will meet Monday to discuss a production cut amid the coronavirus pandemic, according to a Reuters. US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel after gaining 25% Thursday. International benchmark Brent crude jumped 17% to $34.91 per barrel at its Friday intraday highs, continuing the previous day's 21% gain. The cut could be around 10% of global supply, Reuters reported Monday, citing an OPEC source. The meeting to discuss a potential deal to curb production came after President Donald Trump told CNBC Thursday he expected Saudi Arabia and Russia to announce a deal to drastically cut oil production.
Better becareful...... When KLSE was 1700 pts and oil was US50-70, knm was 0.10-0.18. Now KLSE was 1300 pts and oil was US20-27 KNM was 0.10-o.145....Morever now we have the Covid-19 and world lock down.. Pls invest carefully...
WASHINGTON – Presiden Amerika Syarikat (AS), Donald Trump percaya Rusia dan Arab Saudi akan berbincang semula dan mengakhiri perang harga minyak tidak lama lagi dengan menurunkan pengeluaran sekali gus menstabilkan semula harga minyak.
“Saya akan bertemu dengan pengeluar-pengeluar minyak pada hari Jumaat. Saya juga akan bertemu dengan pengeluar-pengeluar minyak bebas sama ada pada hari Jumaat atau Sabtu. Mungkin hari Ahad, kami ada banyak mesyuarat mengenainya,” katanya.
Tambah beliau, industri minyak di seluruh dunia telah musnah dan ia tidak baik untuk Rusia dan Arab Saudi.
”Maksud saya, tidak baik untuk kedua-duanya. Saya rasa mereka akan membuat perjanjian,” ujar beliau.
Harga minyak dunia telah jatuh kira-kira dua per tiga tahun ini kerana koronavirus yang telah menjejaskan ekonomi global.
Keadaan ini diburukkan lagi dengan limpahan minyak oleh pengeluar utama dunia, Arab Saudi dan Rusia.
Kejatuhan harga minyak memberi ancaman kepada industri penggerudian AS sekali gus mengakibatkan pemberhentian kerja besar-besaran dan muflis.
Trump dijangka membincangkan pelbagai pilihan untuk membantu industri, termasuk kemungkinan tarif import minyak dari Arab Saudi, menurut Wall Street Journal.
Presiden AS itu pada minggu ini menyifatkan perang harga minyak antara Rusia dan Arab Saudi sebagai ‘gila’.
Dua pemimpin tenaga dari dua negara itu kemudian saling berhubung dan bersetuju untuk meneruskan perbuncangan dengan pengeluar-pengeluar utama minyak global.
Malah, pentadbiran Trump juga merancang untuk menghantar wakil khas ke Riyadh untuk membincangkan mengenai penurunan pengeluaran.
Arab Saudi telah meningkatkan bekalan minyak mentah pada hari Rabu kepada lebih 12 juta tong sehari, menurut sumber industri, biarpun permintaan menurun. –
They will do what they intend to do...Trump wants to maintain power. History has shown that most US President last for two term. The Hidden hand will make it happen.
Remember, each US$1 per barrel increase in oil prices brings our Treasury RM300 million in revenue per year. As I mentioned earlier during USA Presidential Election year Brent Crude Oil price will bullish or add on around USD 20-25 ..so take USD 25 lowest..God Speed we will see Brent Crude Oil will be back to USD 45-USD 50 pretty soon..
Remember this,.... The recent upswing in O&G stocks are mere speculation and not on fundamentals. It will drops back next few days or weeks. so beware of your saving....
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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....
signalmw
3,314 posts
Posted by signalmw > 2020-04-03 09:34 | Report Abuse
沙特条件是 ”世界产油商需要一起减产". 剑指页岩油商和俄罗斯。
克林姆林宫发言人 Dmitry Peskov通过俄罗斯国营媒体 回应特朗普的推特
“No, 普丁总统并没有谈过减产。"