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| KLSE: CARIMIN (5257) | CARIMIN PETROLEUM BHD | MAIN : Energy |
| Last Price | Today's Change | Day's Range | Trading Volume |
| 0.69 |  +0.005 (0.73%) | 0.65 - 0.755 | 57,450,500 |
Financials
Market Cap: 161 Million
| Latest Audited Result: 30-Jun-2019
| Latest Quarter: 31-Dec-2019 [#2]
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Annual (Unaudited) ( EPS: 12.32, P/E: 5.60 )
| T4Q Result ( EPS: 13.68, P/E: 5.04 )
| Annualized Result ( EPS: 17.24, P/E: 4.00 )
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| Date | Financial Result | Financial Ratio | Per Share Item | Performance | Valuation (End of Quarter) | Valuation (Ann. Date) | |||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| F.Y. | Ann. Date | Quarter | # | Revenue | PBT | NP | NP to SH | Div | Net Worth | Div Payout % | NP Margin | ROE | NOSH | RPS | Adj. RPS | EPS | Adj. EPS | DPS | Adj. DPS | NAPS | Adj. NAPS | QoQ | YoY | EOQ Date | EOQ Price | EOQ P/RPS | EOQ P/EPS | EOQ P/NAPS | EOQ EY | EOQ DY | ANN Date | ANN Price | ANN P/RPS | ANN P/EPS | ANN P/NAPS | ANN EY | ANN DY |
| 30-Jun-2020 | 20-Feb-2020 | 31-Dec-2019 | 2 | 522,035 | 36,139 | 31,155 | 31,996 | 6,548 | 173,654 | 20.47% | 5.97% | 18.43% | 233,878 | 223.21 | 223.21 | 13.68 | 13.68 | 2.80 | 2.80 | 0.7425 | 0.74 | 9.54%
| 857.48% | 31-Dec-2019 | 1.32 | 0.59 | 9.65 | 1.78 | 10.36% | 2.12% | 20-Feb-2020 | 1.15 | 0.52 | 8.41 | 1.55 | 11.90% | 2.43% |
| 30-Jun-2020 | 27-Nov-2019 | 30-Sep-2019 | 1 | 511,161 | 33,576 | 29,532 | 29,209 | 3,742 | 165,632 | 12.81% | 5.78% | 17.63% | 233,878 | 218.56 | 218.56 | 12.49 | 12.49 | 1.60 | 1.60 | 0.7082 | 0.71 | 1.36%
| 323.07% | 30-Sep-2019 | 1.05 | 0.48 | 8.41 | 1.48 | 11.89% | 1.52% | 27-Nov-2019 | 1.27 | 0.58 | 10.17 | 1.79 | 9.83% | 1.26% |
| 30-Jun-2019 | 04-Sep-2019 | 30-Jun-2019 | 4 | 443,005 | 31,093 | 28,573 | 28,817 | 3,742 | 158,218 | 12.99% | 6.45% | 18.21% | 233,878 | 189.42 | 189.42 | 12.32 | 12.32 | 1.60 | 1.60 | 0.6765 | 0.68 | 809.63%
| 214.87% | 28-Jun-2019 | 0.885 | 0.47 | 7.18 | 1.31 | 13.92% | 1.81% | 04-Sep-2019 | 0.93 | 0.49 | 7.55 | 1.37 | 13.25% | 1.72% |
| 30-Jun-2019 | 23-May-2019 | 31-Mar-2019 | 3 | 321,956 | 3,933 | 2,799 | 3,168 | 0 | 151,763 | - % | 0.87% | 2.09% | 233,878 | 137.66 | 137.66 | 1.35 | 1.35 | 0.00 | 0.00 | 0.6489 | 0.65 | 175.00%
| 141.37% | 29-Mar-2019 | 0.83 | 0.60 | 61.27 | 1.28 | 1.63% | 0.00% | 23-May-2019 | 0.68 | 0.49 | 50.20 | 1.05 | 1.99% | 0.00% |
| 30-Jun-2019 | 21-Feb-2019 | 31-Dec-2018 | 2 | 252,145 | -4,021 | -4,555 | -4,224 | 0 | 149,611 | - % | -1.81% | -2.82% | 233,878 | 107.81 | 107.81 | -1.81 | -1.81 | 0.00 | 0.00 | 0.6397 | 0.64 | 67.74%
| 42.25% | 31-Dec-2018 | 0.405 | 0.38 | -22.42 | 0.63 | -4.46% | 0.00% | 21-Feb-2019 | 0.845 | 0.78 | -46.79 | 1.32 | -2.14% | 0.00% |
| 30-Jun-2019 | 29-Nov-2018 | 30-Sep-2018 | 1 | 196,143 | -12,644 | -13,409 | -13,094 | 0 | 145,168 | - % | -6.84% | -9.02% | 233,878 | 83.87 | 83.87 | -5.60 | -5.60 | 0.00 | 0.00 | 0.6207 | 0.62 | 47.81%
| -108.01% | 28-Sep-2018 | 0.255 | 0.30 | -4.55 | 0.41 | -21.96% | 0.00% | 29-Nov-2018 | 0.30 | 0.36 | -5.36 | 0.48 | -18.66% | 0.00% |
| 30-Jun-2018 | 21-Aug-2018 | 30-Jun-2018 | 4 | 136,790 | -24,358 | -25,121 | -25,087 | 0 | 133,731 | - % | -18.36% | -18.76% | 233,878 | 58.49 | 58.49 | -10.73 | -10.73 | 0.00 | 0.00 | 0.5718 | 0.57 | -227.59%
| -473.68% | 29-Jun-2018 | 0.27 | 0.46 | -2.52 | 0.47 | -39.73% | 0.00% | 21-Aug-2018 | 0.275 | 0.47 | -2.56 | 0.48 | -39.01% | 0.00% |
| 30-Jun-2018 | 23-May-2018 | 31-Mar-2018 | 3 | 118,219 | -7,521 | -7,543 | -7,658 | 0 | 149,681 | - % | -6.38% | -5.12% | 233,878 | 50.55 | 50.55 | -3.27 | -3.27 | 0.00 | 0.00 | 0.6400 | 0.64 | -4.70%
| -38.76% | 30-Mar-2018 | 0.315 | 0.62 | -9.62 | 0.49 | -10.39% | 0.00% | 23-May-2018 | 0.29 | 0.57 | -8.86 | 0.45 | -11.29% | 0.00% |
| 30-Jun-2018 | 23-Feb-2018 | 31-Dec-2017 | 2 | 116,335 | -6,462 | -6,803 | -7,314 | 0 | 154,920 | - % | -5.85% | -4.72% | 233,878 | 49.74 | 49.74 | -3.13 | -3.13 | 0.00 | 0.00 | 0.6624 | 0.66 | -16.19%
| -8,226.67% | 29-Dec-2017 | 0.355 | 0.71 | -11.35 | 0.54 | -8.81% | 0.00% | 23-Feb-2018 | 0.375 | 0.75 | -11.99 | 0.57 | -8.34% | 0.00% |
| 30-Jun-2018 | 27-Nov-2017 | 30-Sep-2017 | 1 | 107,405 | -5,474 | -5,625 | -6,295 | 0 | 158,522 | - % | -5.24% | -3.97% | 233,878 | 45.92 | 45.92 | -2.69 | -2.69 | 0.00 | 0.00 | 0.6778 | 0.68 | -43.95%
| -521.35% | 29-Sep-2017 | 0.55 | 1.20 | -20.43 | 0.81 | -4.89% | 0.00% | 27-Nov-2017 | 0.365 | 0.79 | -13.56 | 0.54 | -7.37% | 0.00% |
| 30-Jun-2017 | 24-Aug-2017 | 30-Jun-2017 | 4 | 115,517 | -3,632 | -3,808 | -4,373 | 0 | 158,686 | - % | -3.30% | -2.76% | 233,878 | 49.39 | 49.39 | -1.87 | -1.87 | 0.00 | 0.00 | 0.6785 | 0.68 | 20.76%
| -226.68% | 30-Jun-2017 | 0.345 | 0.70 | -18.45 | 0.51 | -5.42% | 0.00% | 24-Aug-2017 | 0.295 | 0.60 | -15.78 | 0.43 | -6.34% | 0.00% |
| 30-Jun-2017 | 25-May-2017 | 31-Mar-2017 | 3 | 110,199 | -5,647 | -5,052 | -5,519 | 0 | 157,212 | - % | -4.58% | -3.51% | 233,878 | 47.12 | 47.12 | -2.36 | -2.36 | 0.00 | 0.00 | 0.6722 | 0.67 | -6,232.22%
| 70.52% | 31-Mar-2017 | 0.325 | 0.69 | -13.77 | 0.48 | -7.26% | 0.00% | 25-May-2017 | 0.315 | 0.67 | -13.35 | 0.47 | -7.49% | 0.00% |
| 30-Jun-2017 | 27-Feb-2017 | 31-Dec-2016 | 2 | 109,184 | -507 | 205 | 90 | 0 | 162,124 | - % | 0.19% | 0.06% | 233,878 | 46.68 | 46.68 | 0.04 | 0.04 | 0.00 | 0.00 | 0.6932 | 0.69 | -93.98%
| 100.56% | 30-Dec-2016 | 0.32 | 0.69 | 831.57 | 0.46 | 0.12% | 0.00% | 27-Feb-2017 | 0.35 | 0.75 | 909.53 | 0.50 | 0.11% | 0.00% |
| 30-Jun-2017 | 22-Nov-2016 | 30-Sep-2016 | 1 | 119,103 | 891 | 1,482 | 1,494 | 0 | 164,767 | - % | 1.24% | 0.91% | 233,878 | 50.93 | 50.93 | 0.64 | 0.64 | 0.00 | 0.00 | 0.7045 | 0.70 | -56.72%
| 114.69% | 30-Sep-2016 | 0.35 | 0.69 | 54.79 | 0.50 | 1.83% | 0.00% | 22-Nov-2016 | 0.31 | 0.61 | 48.53 | 0.44 | 2.06% | 0.00% |
| 30-Jun-2016 | 22-Aug-2016 | 30-Jun-2016 | 4 | 123,527 | 6,288 | 3,451 | 3,452 | 0 | 163,059 | - % | 2.79% | 2.12% | 233,878 | 52.82 | 52.82 | 1.48 | 1.48 | 0.00 | 0.00 | 0.6972 | 0.70 | 118.44%
| 141.86% | 30-Jun-2016 | 0.395 | 0.75 | 26.76 | 0.57 | 3.74% | 0.00% | 22-Aug-2016 | 0.395 | 0.75 | 26.76 | 0.57 | 3.74% | 0.00% |
| 30-Jun-2016 | 23-May-2016 | 31-Mar-2016 | 3 | 114,608 | -15,212 | -18,723 | -18,720 | 0 | 160,520 | - % | -16.34% | -11.66% | 230,666 | 49.69 | 49.00 | -8.12 | -8.00 | 0.00 | 0.00 | 0.6959 | 0.69 | -17.07%
| -237.80% | 31-Mar-2016 | 0.485 | 0.98 | -5.98 | 0.70 | -16.73% | 0.00% | 23-May-2016 | 0.45 | 0.91 | -5.54 | 0.65 | -18.03% | 0.00% |
| 30-Jun-2016 | 22-Feb-2016 | 31-Dec-2015 | 2 | 123,447 | -12,259 | -15,993 | -15,990 | 0 | 160,795 | - % | -12.96% | -9.94% | 231,960 | 53.22 | 52.78 | -6.89 | -6.84 | 0.00 | 0.00 | 0.6932 | 0.69 | -57.18%
| -257.34% | 31-Dec-2015 | 0.745 | 1.40 | -10.81 | 1.07 | -9.25% | 0.00% | 22-Feb-2016 | 0.50 | 0.94 | -7.25 | 0.72 | -13.79% | 0.00% |
| 30-Jun-2016 | 26-Nov-2015 | 30-Sep-2015 | 1 | 135,181 | -5,422 | -10,175 | -10,173 | 2,338 | 163,281 | - % | -7.53% | -6.23% | 233,961 | 57.78 | 57.80 | -4.35 | -4.35 | 1.00 | 1.00 | 0.6979 | 0.70 | -23.35%
| -283.99% | 30-Sep-2015 | 0.82 | 1.42 | -18.86 | 1.17 | -5.30% | 1.22% | 26-Nov-2015 | 0.71 | 1.23 | -16.33 | 1.02 | -6.12% | 1.41% |
| 30-Jun-2015 | 25-Aug-2015 | 30-Jun-2015 | 4 | 163,439 | -5,161 | -8,249 | -8,247 | 2,338 | 159,720 | - % | -5.05% | -5.16% | 233,885 | 69.88 | 69.88 | -3.53 | -3.53 | 1.00 | 1.00 | 0.6829 | 0.68 | -160.71%
| - % | 30-Jun-2015 | 0.96 | 1.37 | -27.23 | 1.41 | -3.67% | 1.04% | 25-Aug-2015 | 0.80 | 1.14 | -22.69 | 1.17 | -4.41% | 1.25% |
| 30-Jun-2015 | 31-Mar-2015 | 3 | 149,317 | 17,394 | 13,585 | 13,585 | 2,338 | 0 | 17.22% | 9.10% | - % | 233,878 | 63.84 | 63.84 | 5.81 | 5.81 | 1.00 | 1.00 | 0.0000 | 0.00 | 33.67%
| - % | 31-Mar-2015 | 0.95 | 1.49 | 16.36 | 0.00 | 6.11% | 1.05% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00% | 0.00% | ||
| 30-Jun-2015 | 31-Dec-2014 | 2 | 118,504 | 13,355 | 10,163 | 10,163 | 2,338 | 0 | 23.01% | 8.58% | - % | 233,878 | 50.67 | 50.67 | 4.35 | 4.35 | 1.00 | 1.00 | 0.0000 | 0.00 | 83.81%
| - % | 31-Dec-2014 | 0.925 | 1.83 | 21.29 | 0.00 | 4.70% | 1.08% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00% | 0.00% | ||
| 30-Jun-2015 | 30-Sep-2014 | 1 | 65,528 | 7,429 | 5,529 | 5,529 | 0 | 112,946 | - % | 8.44% | 4.90% | 173,177 | 37.84 | 28.02 | 3.19 | 2.36 | 0.00 | 0.00 | 0.6522 | 0.48 | - % | - % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00% | 0.00% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00% | 0.00% | |||
| 30-Jun-2014 | 30-Jun-2014 | 4 | 0 | 0 | 0 | 0 | 0 | - | - % | - % | - % | - | - | - | - | - | 0.00 | 0.00 | - | - | - % | - % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00% | 0.00% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00% | 0.00% | |||
PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.
NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.
Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.
All figures in '000 unless specified.
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 apple168 https://www.bloomberg.com/news/articles/2020-03-29/the-global-oil-market-is-broken-drowning-in-crude-nobody-needs 29/03/2020 8:52 PM emil Bursa 2020 same as in 1997 when KLCI drop to 300pts.... https://www.cnbc.com/2020/03/29/oil-rich-wealth-funds-seen-shedding-upto-225-billion-in-stocks.html 29/03/2020 11:21 PM Will76 Breaking News from CNBC U.S. West Texas Intermediate (WTI) crude futures hit a low of $19.92 in early trading and last traded down 5.2%, or $1.12, at $20.39 a barrel as of 2332 GMT. Brent futures fell 5.6%, or $1.40, to $23.53 a barrel. 30/03/2020 10:13 AM whywhy22 this could be a long hold. If u got a lot of capital, long hold should eventually make money. Else, there are many counter on sale can choose. After virus, still need to see how is the oil discussion end up. 30/03/2020 1:14 PM KAQ4468 Mak cik Kiah pun pening kepala wooo Minyak 19 dollar Hantam panadol satu papan 30/03/2020 7:30 PM Investsucess Trader Harga panadol sekarang naik, tiap tiap hari orang penning kepala....saham jatuh 30/03/2020 7:43 PM johnbrooks Not sure you can value Carimin using FY19 result anymore. Petronas will surely revised its capex spending if oil remains around $20. Malaysia is a lot worse given our oil is sweet crude which is use for jet fuel and gasoline. Now there is no demand for this type of oil. Nigeria are dumping their sweet crude at a discount of $8 vs Brent which is unheard of before. Good luck 31/03/2020 12:20 AM  Star8888 Better sell today, after window dressing today, tomorrow start will big drop. 31/03/2020 4:40 PM Star8888 World Bank cut Malaysia 2020 GDP target for Malaysia to -0.1%, a significant drop from its earlier target of 4.5%. Dow jones drop 410 points last night. Dow jones future drop 250. No more window dressing. Today will big drop. Warning. 01/04/2020 8:35 AM Will76 Breaking News from Bloomberg Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come. Daily consumption will plummet by 15 million to 22 million barrels in April from a year earlier, according to estimates from some of the world’s most influential energy analysts. The crash has already led to refiners slashing processing, drillers halting output and storage tanks swelling across the world. The demand slump is being exacerbated by former OPEC+ allies Saudi Arabia and Russia pumping as much crude as they can in a battle for market share, heaping additional pressure on shipping, tanks and pipelines. Goldman sees around 20 million barrels a day flowing into storage in April, while IHS Markit expects the world will run out of space to store oil by the middle of the year. "Oil price likely to be moving towards USD15/barrel based on the above scenario" 01/04/2020 10:07 AM Will76 "Few in the industry will be spared. April is also set to be the worst ever month for global jet fuel demand, while industry consultant FGE forecasts American gasoline consumption will plunge by 50% from a year earlier. Energy Aspects Ltd. predicts global benchmark Brent crude may drop to near $10 a barrel, a level not seen in more than two decades." 01/04/2020 10:14 AM whywhy22 yea.. oil market is not only impacted by virus. So, it's going to be a long battle before it can really go up. By the time you pump petrol and it cost you > RM 2, then only come back to look at this stock maybe. 01/04/2020 4:30 PM johnbrooks If u guys want to look at the brent crude price. Better looked at the dated brent which is the price of the physical cargoes now. Last i check it was only $17 per barrel. Should be lower today.. the ice brent that u see in bloomberg are futures contract. Today bloomberg starts showing the futures brent for june delivery. Yesterday it was brent for may delivery. Hence why u see the sudden price increase today from $22 at yesterday closing to $25 at today opening. Oil did not go up. Just that the 2 contracts are price differently with longer tenure future having premium over shorter ones (contango market). Most o&g project uses dated brent as reference (at least petronas does). 01/04/2020 5:43 PM  MonkeyFoo 预计俄沙立场不会软化 油价仍有可能跌至单位数 道富环球(State Street Global Advisors)今日(2日)称，没有迹象表明沙地阿拉伯和俄罗斯很快会重返谈判桌，因此预计双方的立场都不会软化，而国际油价仍有可能跌至单位数。 道富环球是全球第3大資產管理公司。 以下是道富环球多元资产高級策略师瓊斯(Ben Jones，图)的评论全文： 据我们估计，全球每日消耗的石油减少了2000万桶，短期内没有需求改善的迹象。全球约有50%的石油消耗量用于交通运输，包括汽车（汽油）、航空（煤油）、海运和铁路运输。当我们看到伦敦、纽约和世界其他主要城市空无一人的街道时，很明显，2020年的驾驶里程数将大大减少。 一般来说，美国全年平均每日的汽油消耗量为900万桶，随着美国驾车季（4月至9月）的到来，未来几个月汽油消耗量通常会增加。然而，今年可能会出现相反的趋势，因为打击石油需求的不仅仅是当地的旅行限制。 随着各国纷纷关闭边境，全球的航空公司已经停飞了大部分飞机。此外，一些航空公司削减了超过90%的航班，美国联邦运输安全管理局（TSA）的检查资料显示，乘客人数也同时按相近的百分比下降。虽然飞机仍在运输货物，但保守估计，与年初相比，全球每日的航班减少50%，石油消耗量将减少500万桶。 尽管有这些统计资料，主要石油生产国仍继续增加产量。从4月1日起，沙地阿美石油公司加速提升产量，从平均每日1000万桶增加至1200万桶。从预算角度来看，沙地需要油价维持在87美元左右才能实现收支平衡，而俄罗斯只需要油价维持在42美元左右。 没有迹象表明沙地和俄罗斯会很快重返谈判桌，所以我们预计双方的立场都不会软化。 尽管美国页岩油的钻井数量已开始下降，但在近期内不太可能出现大幅下滑。因此，美国页岩将不会以现货价格出售石油，但仍有可能以更高的价格出售给美国战略石油储备(SPR)。 由于供过于求，每日超额达2000至2500万桶，如果供需动态没有变化，这些库存可能在3至4个月内很快就会达到饱和。 目前，随着期货市场进入超期货溢价，仓储业务目前仍有盈利。然而，以美元计算，油价经历了有史以来最坏的一个季度，但油价仍有可能跌至单位数。 02/04/2020 4:42 PM signalmw 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。" 03/04/2020 9:30 AM dusti Cash in and line up at food bank. Yummy food I heard!!!!!!!!!!!!!!. Just fooling!!!!!!!!!!!!! 03/04/2020 9:59 AM RedEagle 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. 03/04/2020 9:26 PM tkl88 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 ! 04/04/2020 6:52 AM  |
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