Saudi (opec) and Russia already stand firm that they will maintain crude oil price in between usd 90 to 100. Why worried for 5% downfall after all these guys who are the one who will determine the market crude oil price...
Vicky
Aiyoo recession oil down 5%. Velesto all face the same. Why buy oil
this is energy supply issue, only production can solve current inflation issue. I anticipated the jack up rig demand for malaysia will increase to 20 in 2023
Tommorrow once the Donbast referendum being passed, then Russia will annexed those 4 Donbast regions from Ukraine, then will start war between Russia and Europe, then oil price will spike up to above USD $120 again !
Then all the O & G counters will spike up to sky high especially Velesto's price will break above 30 cents !
Kramatorsk, Ukraine(CNN) The chaos of the past week might be incorrectly comforting. Despite Russia's continued disastrous handling of its war of choice in Ukraine, the conflict's most dangerous moment may be nearing. At some point this week, the Kremlin will likely declare that "sham" referendums in four partially occupied areas of Ukraine have delivered a mandate for their swift assimilation into what Moscow calls Russian territory…
Latest news from CNN… A war between Russia & USA/Europe will be ignited anytime from now if the ‘Sham’ referendum results is in favour to russia (of course is a sure guranteed passed results created by Russia), So, since russia will use this results by annexed 4 Ukraine’s regions and as an excuse for them to publicly giving mandate to them to sending millions of troops to based the stations permanently into this 4 regions, then a new World War III cannot be avoid and will happened anytime from now already !
Then the Oil price definitely will immediately shooting up to sky high !
And then all the O & G counters definitely will follow to spike up like mad already !
Recession, USA/EU going to War-----Velesto rally to above RM1.0 ( my prediction ) Reason is Simple. There is NO competition in Bursa. Tech Stock is Dead. Glove stocks are totally BurnT. For Every Recession the only place that is always Packed is Genting. Chinese need to BET to get by everyday.
Just mental psychology, if you ask ikan bilis to buy stock at RM5 and promise 100% rally, very few will enter. But if stock is just 10sens, it can rally to RM1.0 (very expensive 1000X) and yet price is view as Cheap bcos nasi Lemak is RM1.50
velesto.. hopeless. let the chinese runs the management
Betui kah..serba dinamik also actually run by Chinese (Chinese guy who conv to Malay mah), what happen now lingkup jugak...account fraudulent..kikiki. don't judge a book by its the cover.
Where got recession lah. Recession is simply US agenda lah bro....all politic lah, this Joe biden dirty job to threaten the world. Don't influence with such a nonsense.
Still holding velesto despite the price drop. UOB revised the target price for UOB to be RM 0.14, but this is yet to be factored the expectation of higher dayrate
The price would be revised once the dayrate is confirmed to be higher than $75,000. Dayrate $100,000 is on the way
KEY POINTS * OPEC and non-OPEC producers, a group often referred to as OPEC+, will meet in Vienna, Austria on Wednesday to decide on the next phase of production policy. * The oil cartel and its allies are considering an output cut of more than a million barrels per day, according to OPEC+ sources who spoke to Reuters. * "The OPEC ministers are not going to come to Austria for the first time in two years to do nothing. So there's going to be a cut of some historic kind," said Dan Pickering, CIO of Pickering Energy Partners.
A White House statement following the OPEC+ decision to defy the Biden administration with an output cut for November vows to find new ways to temper OPEC’s control over energy prices. Earlier on Wednesday, members of OPEC+ said they would cut November production quotas by 2 million bpd, citing the “uncertainty that surrounds the global economic and oil market outlooks”. The decision immediately led to a more than 2% increase in Brent crude and WTI prices and goes directly against the Biden administration’s attempts to lobby Saudi Arabia for higher production to bring prices down. Shortly after the release of an OPEC+ press release detailing the output cuts, the White House said, “In light of today's action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices.”
OPEC+ agrees deep oil production cuts, Biden calls it shortsighted By Ahmad Ghaddar, Alex Lawler and Rowena Edwards October 6, 2022 4:33 AM GMT+8Last Updated 17 min ago
VIENNA/LONDON, Oct 5 (Reuters) - OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted. OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy..
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....
WEIMEY
53 posts
Posted by WEIMEY > 2022-09-23 17:17 | Report Abuse
the uptrend will continue with the dayrate continue to hit $200K, buy and hold now, otherwise you will be regret!