Oct 4 (Reuters) - Oil jumped to a three-year peak on Monday after OPEC+ confirmed it would stick to its current output policy as demand for petroleum products rebounds, despite pressure from some countries for a bigger boost to production. The producer club's decision to keep increasing oil output gradually sent prices sharply higher, adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. read more OPEC+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until at least April 2022 to phase out 5.8 million bpd of existing production cuts. Brent crude settled up $1.98, or 2.5%, to $81.26 a barrel. It rose 1.5% last week for a fourth consecutive weekly gain, and was back up to highs last seen in 2018.
U.S. oil settled up $1.74, or 2.3%, to $77.62 a barrel after gaining for the past six weeks, and was at its highest since 2014. "Given the demand picture and the outcome of the OPEC meeting, the overall sentiment around crude is bullish," said John Kilduff, partner at Again Capital LLC in New York. Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil closely trailing, according to energy watchdog, the International Energy Agency. Three-quarters of global energy demand is still met by fossil fuels, with less than a fifth by non-nuclear renewables. OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, has faced pressure from some countries to add back more barrels to the market as demand has recovered faster than expected in some parts of the world.
Four OPEC+ sources told Reuters recently that producers were considering boosting output by more than had already been agreed. read more The oil price rally has also been fuelled by an even bigger increase in gas prices, which have spiked by 300%, prompting switching to fuel oil and other crude products to generate electricity and for other industrial needs.
OTHERS (Amended Announcement) BURSA MALAYSIA SECURITIES BERHAD (BURSA)'S PN17 RELIEF MEASURES RESULTING IN ALAM MARITIM RESOURCES BERHAD DID NOT TRIGGER SUSPENDED CRITERIA AND NOT CLASSIFIED AS A PN17 LISTED ISSUER
Sorry I am no spear headed to any religion and causing some disturbance to the ppl who are seensitive to the issue. I am just saying, one should not pray in the Company where it should be a place to work. Same like Christians, Hindu and other religions.even Arabic company disallow employee openly praying in the public.
In a business, client is always King. Now you have God, which is definitely above client. How does the client feel if u say its time to pray, excuse me becoz God is more important than u? Can't deny religion was once use as a political tool in the history, but here in a co, we are not uniting ppl, we need clients.
Unfortunately, none of the CEOs or management are here. You're saying sensitive things decent Malaysians. I'm a person of Indian heritage and i find your use of GOD uncalled for. You can call the company and try to make real changes if you believe so strongly. Hope everyone here is good and i wish the best day and a smiling high 5 for the 3 of us who are having this minor misunderstanding. wang besar, big money and happy Friday guys :-) :-)
Alam is not in oil production unlike hibicus. When oil price increase making new projects viable, demand for services will also increase. Hopefully DCR also increase. There is where ALAM makes the money.
Will take time to see the impact of higher oil price on ALAM revenue. In the mean time, dont fight fight lah.
PETALING JAYA: Interstate travel nationwide will resume starting Monday (Oct 11), says Datuk Seri Ismail Sabri Yaakob. The Prime Minister said this during a special address at 3pm on Sunday (Oct 10).
"With the achievement of almost 90% of the population being fully vaccinated, therefore I would like to announce that interstate travel will be allowed. This will begin on Monday (Oct 11). “Interstate travel is only allowed for those who are fully vaccinated. “The lifting of the prohibition on interstate travel does not apply for visits to localities placed under enhanced movement control order," he added. Ismail Sabri also said fully vaccinated Malaysians can travel abroad without MyTravelPass effective Monday (Oct 11)...
Alam-wa will mature on 28 March 2022 with ex price 0.12. I might be wrong but I don't see any incentive to push the warrant's price up, and Alam's FA seems to justify my claim so far.
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....
Powertrade76
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Posted by Powertrade76 > 2021-10-04 17:42 | Report Abuse
any news ?