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14,729 comment(s). Last comment by RedEagle at Apr 4, 2020 12:34 PM
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5914 posts

Posted by JJchan > Apr 3, 2020 4:13 PM | Report Abuse

Trump might impose a oil tariff at $40( shale breakeven cost ). Saudi might has a Cost (plus transportation $5) of $45 to sell into USA. Brent at $45 is a great relief to Malaysia too

326 posts

Posted by Lucky88 > Apr 3, 2020 4:26 PM | Report Abuse

Ha..Ha..Ha.....BIG PROFIT today...

39 posts

Posted by JayC88 > Apr 3, 2020 4:30 PM | Report Abuse

how come oil go up suddenly?

407 posts

Posted by Leong1982 > Apr 3, 2020 4:35 PM | Report Abuse


OPEC+ to Hold Virtual Meeting Monday as Trump Pushes for Cut

The OPEC+ coalition is rushing to pull together a meeting of its members -- and possibly other oil producing nations -- after President Donald Trump called for a coordinated production cut to stem the historic rout in crude prices.

A virtual meeting will be held on Monday, a delegate said. It will be open to all producers -- not just those among the Organization of Petroleum Exporting Countries and its allies -- but it’s not yet clear which will attend, according to delegates. The U.S. so far has given no indication it’s prepared to join.

326 posts

Posted by Lucky88 > Apr 3, 2020 4:35 PM | Report Abuse

Next week more PROFIT..........Ha..Ha..Ha..

326 posts

Posted by Lucky88 > Apr 3, 2020 4:37 PM | Report Abuse

Next week Huat ah !!!!!!!!!!

6996 posts

Posted by Mabel > Apr 3, 2020 4:50 PM | Report Abuse

Huat Chaiiii!

6996 posts

Posted by Mabel > Apr 3, 2020 4:51 PM | Report Abuse

Meow Meow Meow

6996 posts

Posted by Mabel > Apr 3, 2020 5:14 PM | Report Abuse

@drgondrong Mabel..you appeared to be a very principled person who invest by fundamentals and not emotions...I like that idea...do you have 'group' for me to join in???
03/04/2020 11:15 AM

Unfortunately I don't have Doc..

We can always do it in this Forum. I don't mind sharing what I know after all we are in this journey together..

All the best!


5914 posts

Posted by JJchan > Apr 3, 2020 6:07 PM | Report Abuse

Oil now $32.77 (Up 2.83)---+9.45%....Tonite we wait for Trump tweet.....Monday, will Velesto hit 20cents?? depends on what Trump say tonite

3083 posts

Posted by tkl88 > Apr 3, 2020 6:38 PM | Report Abuse

Wow, Amazing, Oil price continue to spike up !
As at ‪6.37pm,‬
Nymex => $26.52 ‪(+1.20) (+4.74%)‬
Brent => $32.77 ‪(+2.83) (+9.45%)‬

105 posts

Posted by Cojack31 > Apr 3, 2020 8:09 PM | Report Abuse

So monday share price will up ?

Baby Shark
1987 posts

Posted by Baby Shark > Apr 3, 2020 8:39 PM | Report Abuse

Geranti up la..

Baby Shark
1987 posts

Posted by Baby Shark > Apr 3, 2020 8:39 PM | Report Abuse

Spike or no spike also up..

1 post

Posted by Allantanks > Apr 3, 2020 8:54 PM | Report Abuse

Going to fly

2382 posts

Posted by RedEagle > Apr 3, 2020 9:28 PM | Report Abuse

LONDON (Bloomberg) -- The OPEC+ coalition is pushing for other major oil producers to join it in a deep reduction of global crude output and stem the historic rout in prices, a move that sent futures sharply higher.

A global cut of 10 million barrels a day is a realistic goal, according to a delegate, who spoke on condition of anonymity.

The Organization of Petroleum Exporting Countries and allies, a group led by Saudi Arabia and Russia, has already scheduled a virtual meeting on Monday and wants other nations to join talks as soon as possible.

The 10 million figure was first touted by President Donald Trump on Thursday, who called for a coordinated production cut.

He gave no indication whether the US would take part. For Saudi Arabia, it’s essential that producers including the Americans join in.

Trump is meeting oil executives later on Friday. Russian President Vladimir Putin is meeting his country’s oil executives too.

Oil surged on the news. But there are enormous obstacles to any deal.

Russia was quick to deny on Thursday that any agreement had been reached -- although it had said for weeks it’s open to talks.

Even if an accord can be struck, a cut of 10 million barrels would barely dent the glut of oil that has been created by the economic fallout of the coronavirus pandemic.

Traders estimate the lost demand could be as high as 35 million barrels a day.

And so far, there is no sign of any movement toward a truce in the ground war. Saudi Arabia is ramping up exports, as it promised to do.

But diplomatically the picture is more nuanced.

For several days, Saudi Arabia was wrong-footed by Russia, as Moscow sounded open to talks and blamed the price collapse on the kingdom.

Now, by saying it’s ready to cut, the kingdom has put the onus on Moscow, forcing the Kremlin to reverse their opposition to cuts, or be blamed -- by Trump among others -- for the damage.

Oil Jumps

Brent crude, which jumped more than 40% on Thursday after Trump’s announcement before paring gains, rose 11% on Friday. It’s still down 50% this year as the virus fight grounds planes and shutters huge swaths of the global economy.

In some corners of the market, physical prices have gone negative and some producers are expected to start suspending output as there’s not enough space to store the excess crude.

Tankers have filled up fast as ships are being used as storage rather than transport.

Oil-producing nations around the world are feeling the pain of the price war, which started a month ago after Russia refused to take part in deeper cuts, saying it would only extend the previous deal.

Saudi Arabia aggressively discounted its crude days later, in a move to seize customers from Russia’s traditional markets.

Shale producers in the US are struggling and national finances are under pressure. Russia, for example, is now expecting oil prices at US$20 a barrel this year and will ramp up borrowing to make up for a budget shortfall.

Saudi Arabia will also have to make deep budget cuts as oil accounts for the vast majority of its revenue.

The kingdom’s next move in the price war could come as soon as Sunday, when it sets official prices for its crude exports. The operation could be postponed, however -- as it was last month -- to avoid prejudicing the Monday meeting.

Washington’s Options

Trump will meet on Friday oil executives, who are battling among themselves as to what the administration should do.

The White House has considered tariffs on foreign oil imports to protect US producers, though the idea is opposed by some top Trump advisers led by Larry Kudlow, the director of the National Economic Council, according to people familiar with the matter.

The idea of a US production cut, probably executed by capping exports, is also on the table at the White House, though many oil industry representatives have warned that the approach would cause the US to cede the very "energy dominance” Trump has repeatedly celebrated.

Trump said on Thursday he expected a deal -- but made no mention of any role for the US.

"It would be great for Russia, it would be great for Saudi Arabia -- I hope they make that deal but that’s what they told me,” he said. "Can something happen where it doesn’t happen? I guess? In which case there’s another alternative, but I’d rather not see the other alternative.”

In his tweet, Trump said he had spoken to Crown Prince Mohammad bin Salman, who had in turn spoken with Putin. But a Kremlin spokesman, Dmitry Peskov, said the conversation hadn’t happened and that no production cut had been agreed to with the Saudis.

Russia hasn’t yet confirmed its attendance at the OPEC+ meeting. But Russia has long said it’s open to talks, and the industry may find itself forced into production cuts anyway because of the slump in demand, potentially bolstering the case for a coordinated response.

3083 posts

Posted by tkl88 > Apr 3, 2020 11:29 PM | Report Abuse

Walaoeh, Unbelievable !
Oil price spike up like mad !
As at 11.10pm,
Nymex => $27.19 ‪ (+1.87) (+7.39%‬)
Brent => $33.71 (‪+3.77) (+12.59%‬)

75 posts

Posted by Lucky81 > Apr 3, 2020 11:43 PM | Report Abuse

consensus will not be reached on Monday, take profit n run.

3083 posts

Posted by tkl88 > Apr 3, 2020 11:47 PM | Report Abuse

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.

3083 posts

Posted by tkl88 > Apr 4, 2020 6:38 AM | Report Abuse

Superb, Oil Price closed at new record high !‬
Nymex => $28.97 ‪(+3.65) (+14.42%)‬
Brent => $34.83 ‪(+4.89) (+16.33%)‬

‪Next week definitely will break the USD $40 per barrel !‬
Huat ah ! Heng ah ! Ong ah !

30 posts

Posted by bignate2019 > Apr 4, 2020 7:41 AM | Report Abuse

Have wonderful weekend guys

184 posts

Posted by Abba84 > Apr 4, 2020 9:33 AM | Report Abuse

The energy sector wud stil face crushing demands as business brought to standstill .!oil prices wil not be sustainable wen ghosts of covid pandemics not beaten!

407 posts

Posted by Leong1982 > Apr 4, 2020 9:53 AM | Report Abuse

Russian President Vladimir Putin told the country’s top oil executives that oil producing countries should join together to slash output to reverse the collapse in world oil prices.

Putin said global cuts of a little above or below 10 million barrels a day are possible, according to televised comments Friday. He echoed a Tweet by U.S. President Donald Trump saying Russia and Saudi Arabia were ready to cut output that sent Brent oil prices up as much as 47%.

1719 posts

Posted by Junichiro > Apr 4, 2020 9:59 AM | Report Abuse

What Putin said was all oil producers including US shale oil, Canada, Mexico .... should cut their production to lift oil prices. If the US only wants a free ride, there is probably no agreement in sight.

His decision to tariff import of oil might bring the Petro-Dollar to an end. Why must OPEC price their oil in USD when US tariff their oil ?

1719 posts

Posted by Junichiro > Apr 4, 2020 10:05 AM | Report Abuse

By 1975, all of the OPEC nations had agreed to price their own oil supplies exclusively in U.S. dollars in exchange for weapons and military protection.

This petrodollar system, or more simply known as an “oil for dollars” system, created an immediate artificial demand for U.S. dollars around the globe. And of course, as global oil demand increased, so did the demand for U.S. dollars.

If the Petro-Dollar comes to an end, the Fed would no longer have a free hand in printing USD.

5914 posts

Posted by JJchan > Apr 4, 2020 11:22 AM | Report Abuse

If you compare Covid-19 infection rate between Asean Countries( Singa, Malai, Thai ) and Wuhan,
Itali, Spain, LA and New York----the infection Rate is 10X faster / Deadlier in Colder Countries.
USA is entering Summer / Spring (April), and CDC list Louisiana as next epi-centre will verify whether Hot weather Delay infection rate

503 posts

Posted by Addy > Apr 4, 2020 11:24 AM | Report Abuse

目前投资股票好? 投资地产好?投资内需公司还是外需公司?

5914 posts

Posted by JJchan > Apr 4, 2020 11:38 AM | Report Abuse

I think USA will take a glancing Blow instead of a Direct Hit like Italy and Spain. Economy should
recover much faster than most economist expectation. Come Sept (winter), alot of vaccine will
be ready( emergency used) and many Treatment Drugs are readily available by then----
Looking at Wuhan, i don't think USA will achieve V-shape recovery, certainly not L-shape bcos got
2.2Trillion stimulus----somewhere in between 2019-----Oil should price around $40--50 for very
long Time-----Buy Very Big CC suv next year (no sub,sub Compact Car )

2382 posts

Posted by RedEagle > Apr 4, 2020 12:34 PM | Report Abuse

WASHINGTON (Reuters) - It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday.

That said, the decision by a Texas state official to talk with Saudi Arabia and Russia about supporting oil prices marks a sharp contrast with U.S. policy. A year ago President Donald Trump tweeted that OPEC needed to "increase the flow of oil. World Markets are fragile, price of Oil getting too high."

A two-thirds drop in oil prices in the last three months has swiftly changed Washington's thinking on whether or not it should meddle in the energy market.

Trump has called on top producers to stop a market rout caused by the coronavirus pandemic, as OPEC and its allies work on a deal for an unprecedented oil production cut equivalent to around 10% of global supply.

"Trump himself, other federal officials, and Congress cannot violate antitrust (law) by any official actions they take. It doesn't apply to them," said Chris Sagers, who teaches antitrust at the Cleveland-Marshall College of Law.  

When oil prices are high, anti-OPEC bills, nicknamed NOPEC, gained traction in Congress. The bills would allow OPEC to be sued in U.S. courts for violating antitrust laws.

Such bills have been introduced in the U.S. Senate and House of Representatives for more than a decade, but have never succeeded. In February 2019, the latest version was approved by the House Judiciary Committee.

"From an antitrust perspective, businesses have been complaining about OPEC and complaining about these foreign systems for years," said Barbara Sicalides, an antitrust expert at Pepper Hamilton LLP. "I don't think it's an antitrust violation. It's certainly a change in policy."

Oil prices have fallen to around $20 per barrel from nearly $65 at the start of the year as more than 3 billion people went into a lockdown, reducing global oil demand by as much as a third.

Texas regulator Ryan Sitton, one of three members of the Texas Railroad Commission, waded into oil diplomacy on Thursday, calling Russia's energy minister to discuss possible oil production curbs and angling for talks with Saudi Arabia as many producers in the U.S. state's biggest industry warned it was near collapse.

The Oklahoma Energy Producers Alliance has urged its state's regulator to curtail crude oil production.

This kind of conduct in private industry would not be permitted, but under the state action doctrine it is allowed if it is done under the commission's authority, said Sicalides.

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