Course adjusting exercise incoming. This industry has a bright future ahead.

Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices.

International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at $31.87 a barrel.

American benchmark West Texas Intermediate (WTI) was at $24.72 a barrel at the same time for a 4.6% gain after ending the previous day at $23.63 per barrel.

The oil producing member countries of OPEC+ will hold a teleconference on Thursday to discuss the low price environment and the supply-demand balance in the global oil market.

Due to the rapid spread of coronavirus, or the COVID-19 disease, weak economic activity around the world has lowered global oil demand, increasing the glut of supply in the market.

Saudi Arabia-led OPEC and Russia-spearheaded non-OPEC failed on March 6 to lower their collective output, causing a massive plummet in prices, which fell on March 30 to their lowest level since 2002.

The OPEC+ group is estimated on Thursday to lower their collective oil production level by between 10-15 million barrels per day in order to trim some of the oversupply.

Morning everyone. Look forward to your lobster today.

Other people start early. Some people start late. Time to sit back and watch this stock fly.

Its just a waiting game. Be patient and wait for it.

But can only be patient if already sitting on it. Like I said earlier, now is the time to start buying in.

Posted by tkl88 > Apr 2, 2020 2:56 PM | Report Abuse

Walaoeh, what happend ?
Damn hot man Sapnrg today !
Now Sapnrg already traded at => 0.085 (+0.01) (+13.3%)

Seems like there is a very strong support at 7.5sen

When there is crisis, there is opportunity. Keep monitoring and buying when it hit low.

The oil market is facing a "double crisis" with a collapse in the OPEC+ alliance affecting supply and the slowdown in the world economy crushing demand, oil guru Dan Yergin said this week.
"Cars not on the road, airplanes not in the air, factories not working, people not going to work," Yergin said. "We see, in this month of April that's coming, what could be a 20 million barrel a day decline in oil demand."
He also explains why he said "any kind of solution" that is found for the oil market "has to be in the G-20."

Oil still has demand in long term, the pandemic causes the demand low nia

Oil price is unlikely to go up much in these 3-6 months

Today's trading volume is approx 2,000,000 more compared to 2 days ago. This oil counter is attracted by so many investors.

When the financial report of the company is nice, it is difficult to buy at this price.

I agree on that, plus genting which is also one of the significant contributors of tax is closed due to the MRO. So government would come out some fiscal policy that are unfavourable to the citizens, particularly the middle income people.

Posted by backdoorstockmarket > Mar 26, 2020 11:48 AM | Report Abuse
Jeffrey, you have to look at the bigger picture than only your own pocket. Our country is quite reliant on o&g to do well. Petronas alone contributes 30% of our govt revenue. In times where oil price is low, yes you'll get to pump cheaper petrol but with lower govt revenue, you can expect low or no growth, inflation, or even worse, recession. Ringgit drop. Prices of goods increase especially imported goods. Govt may resort to certain unfavourable fiscal policies to balance their budget. A cut in spending or increase in tax rates or a mix of both. Bad times.

Why the price didn't drop today?? I queue at 7sen lehhhh

Trading volume drops compared to yesterday. Economy is definitely shrinking

Unlikely. Probably need to drag another 14 days later

Oil price increases today. That would be one of the factors contributes to the price today.

Oil Jumps As Markets Panic

Oil prices rose slightly on Monday, but the oil markets are still in full-blown panic mode as the number of American states in complete lockdown grows, threatening demand for crude oil.

WTI crude may be trading up 2.96% up on the day, but it’s still only $23.30 per barrel—well below the breakeven point for US shale and down more than 50% month over month. The Senate stimulus package that the United States was foolishly hoping would be done on Sunday still isn’t. This contributed to the price slide for oil, but the reality is, the United States is shutting down to slow the spread of COVID-19—and shutdowns mean less transportation, and less transportation means less demand for crude.

7.5sen is not a new resistance la bro. As long as there is demand for the shares then want the price goes up shouldn't be a problem

Volume traded is not high today. However, the price goes up a bit. Interesting scenario

Good day. Brent Crude 30.57 +0.27

There are huge right issues. So need to monitor the oil price as the indicator of the price trend.

Good news today, share price goes up.

Sapura has a lot of assets. It wont go bankrupt that easily

I dont think it will go lower tomorrow. As long as still having cash flow, no point selling it out

Now people do sell call its normal if you sell. Its exceptional if you buy it. It means u dare to take risk in order to get long term gain.

Morning morning. Oil price plummeted and causes the share price to be cheap. When the oil price recovers the share price will also recover. Make sense?

The outbreak shouldn't affect what people do in stocks but inevitably it affects stock market

Warren Buffett said in an interview with Yahoo Finance on Tuesday that Monday's market rout was not as scary as the 2008 financial crisis or the 1987 collapse.

Still, the combination of the coronavirus outbreak and a plunge in oil prices was a "big one-two punch" to markets, Buffett said.

The outbreak shouldn't affect what people do in stocks, Buffett said in a February interview with CNBC. But "in terms of the human race," he said, "it's scary stuff when you have a pandemic."

Warren Buffett said in an interview with Yahoo Finance on Tuesday that Monday's market rout was not as scary as the 2008 financial crisis or the 1987 collapse.

Still, the combination of the coronavirus outbreak and a plunge in oil prices was a "big one-two punch" to markets, Buffett said.

The outbreak shouldn't affect what people do in stocks, Buffett said in a February interview with CNBC. But "in terms of the human race," he said, "it's scary stuff when you have a pandemic."

Oil is on track for its worst weekly performance since the financial crisis of 2008 amid a global price war between OPEC and its allies and market panic due to coronavirus.

Brent crude gained as much as 7.3% to $35.65 per barrel, and West Texas Intermediate crude climbed 7.2% to $33.76 per barrel early Friday in New York. Still, both are down more than 20% for the week.

Supply could reach a record high in April, according to Goldman Sachs. Oil is now in super-contango, meaning that future prices are higher than current ones.

Well said...

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Posted by Huatexpert > Mar 12, 2020 11:35 AM | Report Abuse

No Doubt Shahril did the right thing last yr...
Now only 50% exposure to E & P with Strong cash player OMV as partner.
Sapura E should be no problem to withstand this round of the oil crisis which could last not so long once OPEC and OPEC+ back to table of negotiation.

Last yr only.. Sapura E raised RM 7 bil from selling 50% share to OMV and right issue shares at RM 0.3. PNB became the major shareholders with 40% shares.

Now the Sapura market only value it RM 1.678 bil.
I dont think this is acceptable for PNB at this price which it paid RM 0.3 last yr for the right issue shares.

The current Sapura E with Strong balance sheet, huge backlog contract RM 15.5 bil which can last for 3 yrs. Dont think current price is justified for PNB without talking any actions..

https://www.nst.com.my/business/2019/01/453365/sapura-energy-raised-rm...

Oil price dropped today. Share price dropped a bit today

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The Federal Reserve took drastic action on Thursday as the stock market meltdown accelerated, pledging to inject as much as $1.5 trillion into U.S. markets to cull the growing panic sparked by the Coronavirus pandemic.

The Fed noted in a statement, "These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” adding that the operations “will be adjusted as needed to foster smooth Treasury market functioning."

Latest update. Still difficult to say that the oil price is collapsing

U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war.

Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d) in April, a shocking escalation of the war for market share. That level of output is believed to be beyond what Aramco can produce on a sustainable basis. In other words, Saudi Arabia is going all-out to flood the market.

Looks like sap price is rebounding

Impossible it will bankrupt. Sapura is backed by PNB

When everyone is fear, it's the opportunity for you and me

Shahril acquires so many shares. Obviously there is reasons that make him take the move. If the company is not improving what for buying more shares

Morning morning. OPEC deal has not come to conclusion yet. Too early to determine the oil price

Sap is a good counter to do so when you look at its graph

Seems like overall market outlook is pessimistic. Short term trading could be a better option to trade

The outlook for the global economy continues to darken, and a growing number of analysts see oil demand contracting in 2020.

South Korea cases go up to 5000. Economy will be slower

People contracted coronavirus in Italy increase 50 percent in a day

Italy in Europe becoming China in Asia

Morning morning, hope you find your greenland in red sea

Demand goes down due to the coronavirus outbreak. Some factories even close temporarily, production goes down so less oil required
It's a short term condition
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buah_kurma Demand for energy already crashing. Sapura ,knm, velesto semue kangtoi.....viability of biz semua tak lepas ....Nak tunggu delist ?
02/03/2020 4:22 PM

Skeptical as always huh
Toilet paper company won't get new contract and jobs lo

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DickyMe2 This not for investor but for gamblers only.
Bet small, don't be greedy.
Fundamentally, toilet paper stock!
02/03/2020 5:39 PM

Don't forget, it's O&G company. The worst case scenario, the price would be more than 10sen

Too early to say it is crash. The day onwards the price is unlikely to go down as steeply as today

The company got bank loans to sustain their operations. We can't ascertain that the deliveries would be delayed.

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spinninglotus No you guys are not aware the seriousness issues

Because if the crash

Oil platforms delivery will be delayed 3-6 months

Effectively zero earning for next 1-2 quarters for Sapura energy

Very very serious!!!
02/03/2020 5:45 PM

Margin call would have happened much earlier if it does happen.

Avoid spreading the fake news, we couldn't deny that there is the possibility of shares consolidation

Kudos to people who spread fake news

Then people who doesn't affect by the fake news will collect all the cheap shares everywhere

Morning morning. Looks like people keep spreading fake news of market crash

If share price is at above 20 for a week, then it indicates a strong support

Aiya. When one thing is moving in a constant motion, it will continue its motion until external force exert to it.

Since there is economic package, we see what is inside the package firat