Satay Kajang >RM1
Expensive than KNM..wait for what..just buy and hold dear

Satay Kajang >RM1
Expensive than Alam..wait for what..just buy and hold dear

Satay Kajang >RM1
Expensive than Sapnrg..wait for what..just buy and hold dear

Monday 0.52, Tuesday 0.55, Wednesday OPEX meeting 0.60, Thursday +ve momentum 0.65, Friday 0.75 profit taking..

Chill, Stay at Home
Trump, Putin, King Saudi Work For You
:-)

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.

Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.

Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.


Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.

Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.


Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.


Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.


Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.

Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.

“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.

Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.

Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.

Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.

Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP

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.

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.

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.

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.

WASHINGTON – Presiden Amerika Syarikat (AS), Donald Trump percaya Rusia dan Arab Saudi akan berbincang semula dan mengakhiri perang harga minyak tidak lama lagi dengan menurunkan pengeluaran sekali gus menstabilkan semula harga minyak.

“Saya akan bertemu dengan pengeluar-pengeluar minyak pada hari Jumaat. Saya juga akan bertemu dengan pengeluar-pengeluar minyak bebas sama ada pada hari Jumaat atau Sabtu. Mungkin hari Ahad, kami ada banyak mesyuarat mengenainya,” katanya.

Tambah beliau, industri minyak di seluruh dunia telah musnah dan ia tidak baik untuk Rusia dan Arab Saudi.

”Maksud saya, tidak baik untuk kedua-duanya. Saya rasa mereka akan membuat perjanjian,” ujar beliau.

Harga minyak dunia telah jatuh kira-kira dua per tiga tahun ini kerana koronavirus yang telah menjejaskan ekonomi global.

Keadaan ini diburukkan lagi dengan limpahan minyak oleh pengeluar utama dunia, Arab Saudi dan Rusia.

Kejatuhan harga minyak memberi ancaman kepada industri penggerudian AS sekali gus mengakibatkan pemberhentian kerja besar-besaran dan muflis.

Trump dijangka membincangkan pelbagai pilihan untuk membantu industri, termasuk kemungkinan tarif import minyak dari Arab Saudi, menurut Wall Street Journal.

Presiden AS itu pada minggu ini menyifatkan perang harga minyak antara Rusia dan Arab Saudi sebagai ‘gila’.

Dua pemimpin tenaga dari dua negara itu kemudian saling berhubung dan bersetuju untuk meneruskan perbuncangan dengan pengeluar-pengeluar utama minyak global.

Malah, pentadbiran Trump juga merancang untuk menghantar wakil khas ke Riyadh untuk membincangkan mengenai penurunan pengeluaran.

Arab Saudi telah meningkatkan bekalan minyak mentah pada hari Rabu kepada lebih 12 juta tong sehari, menurut sumber industri, biarpun permintaan menurun. –

WASHINGTON – Presiden Amerika Syarikat (AS), Donald Trump percaya Rusia dan Arab Saudi akan berbincang semula dan mengakhiri perang harga minyak tidak lama lagi dengan menurunkan pengeluaran sekali gus menstabilkan semula harga minyak.

“Saya akan bertemu dengan pengeluar-pengeluar minyak pada hari Jumaat. Saya juga akan bertemu dengan pengeluar-pengeluar minyak bebas sama ada pada hari Jumaat atau Sabtu. Mungkin hari Ahad, kami ada banyak mesyuarat mengenainya,” katanya.

Tambah beliau, industri minyak di seluruh dunia telah musnah dan ia tidak baik untuk Rusia dan Arab Saudi.

”Maksud saya, tidak baik untuk kedua-duanya. Saya rasa mereka akan membuat perjanjian,” ujar beliau.

Harga minyak dunia telah jatuh kira-kira dua per tiga tahun ini kerana koronavirus yang telah menjejaskan ekonomi global.

Keadaan ini diburukkan lagi dengan limpahan minyak oleh pengeluar utama dunia, Arab Saudi dan Rusia.

Kejatuhan harga minyak memberi ancaman kepada industri penggerudian AS sekali gus mengakibatkan pemberhentian kerja besar-besaran dan muflis.

Trump dijangka membincangkan pelbagai pilihan untuk membantu industri, termasuk kemungkinan tarif import minyak dari Arab Saudi, menurut Wall Street Journal.

Presiden AS itu pada minggu ini menyifatkan perang harga minyak antara Rusia dan Arab Saudi sebagai ‘gila’.

Dua pemimpin tenaga dari dua negara itu kemudian saling berhubung dan bersetuju untuk meneruskan perbuncangan dengan pengeluar-pengeluar utama minyak global.

Malah, pentadbiran Trump juga merancang untuk menghantar wakil khas ke Riyadh untuk membincangkan mengenai penurunan pengeluaran.

Arab Saudi telah meningkatkan bekalan minyak mentah pada hari Rabu kepada lebih 12 juta tong sehari, menurut sumber industri, biarpun permintaan menurun. –

WASHINGTON – Presiden Amerika Syarikat (AS), Donald Trump percaya Rusia dan Arab Saudi akan berbincang semula dan mengakhiri perang harga minyak tidak lama lagi dengan menurunkan pengeluaran sekali gus menstabilkan semula harga minyak.

“Saya akan bertemu dengan pengeluar-pengeluar minyak pada hari Jumaat. Saya juga akan bertemu dengan pengeluar-pengeluar minyak bebas sama ada pada hari Jumaat atau Sabtu. Mungkin hari Ahad, kami ada banyak mesyuarat mengenainya,” katanya.

Tambah beliau, industri minyak di seluruh dunia telah musnah dan ia tidak baik untuk Rusia dan Arab Saudi.

”Maksud saya, tidak baik untuk kedua-duanya. Saya rasa mereka akan membuat perjanjian,” ujar beliau.

Harga minyak dunia telah jatuh kira-kira dua per tiga tahun ini kerana koronavirus yang telah menjejaskan ekonomi global.

Keadaan ini diburukkan lagi dengan limpahan minyak oleh pengeluar utama dunia, Arab Saudi dan Rusia.

Kejatuhan harga minyak memberi ancaman kepada industri penggerudian AS sekali gus mengakibatkan pemberhentian kerja besar-besaran dan muflis.

Trump dijangka membincangkan pelbagai pilihan untuk membantu industri, termasuk kemungkinan tarif import minyak dari Arab Saudi, menurut Wall Street Journal.

Presiden AS itu pada minggu ini menyifatkan perang harga minyak antara Rusia dan Arab Saudi sebagai ‘gila’.

Dua pemimpin tenaga dari dua negara itu kemudian saling berhubung dan bersetuju untuk meneruskan perbuncangan dengan pengeluar-pengeluar utama minyak global.

Malah, pentadbiran Trump juga merancang untuk menghantar wakil khas ke Riyadh untuk membincangkan mengenai penurunan pengeluaran.

Arab Saudi telah meningkatkan bekalan minyak mentah pada hari Rabu kepada lebih 12 juta tong sehari, menurut sumber industri, biarpun permintaan menurun. –

WASHINGTON – Presiden Amerika Syarikat (AS), Donald Trump percaya Rusia dan Arab Saudi akan berbincang semula dan mengakhiri perang harga minyak tidak lama lagi dengan menurunkan pengeluaran sekali gus menstabilkan semula harga minyak.

“Saya akan bertemu dengan pengeluar-pengeluar minyak pada hari Jumaat. Saya juga akan bertemu dengan pengeluar-pengeluar minyak bebas sama ada pada hari Jumaat atau Sabtu. Mungkin hari Ahad, kami ada banyak mesyuarat mengenainya,” katanya.

Tambah beliau, industri minyak di seluruh dunia telah musnah dan ia tidak baik untuk Rusia dan Arab Saudi.

”Maksud saya, tidak baik untuk kedua-duanya. Saya rasa mereka akan membuat perjanjian,” ujar beliau.

Harga minyak dunia telah jatuh kira-kira dua per tiga tahun ini kerana koronavirus yang telah menjejaskan ekonomi global.

Keadaan ini diburukkan lagi dengan limpahan minyak oleh pengeluar utama dunia, Arab Saudi dan Rusia.

Kejatuhan harga minyak memberi ancaman kepada industri penggerudian AS sekali gus mengakibatkan pemberhentian kerja besar-besaran dan muflis.

Trump dijangka membincangkan pelbagai pilihan untuk membantu industri, termasuk kemungkinan tarif import minyak dari Arab Saudi, menurut Wall Street Journal.

Presiden AS itu pada minggu ini menyifatkan perang harga minyak antara Rusia dan Arab Saudi sebagai ‘gila’.

Dua pemimpin tenaga dari dua negara itu kemudian saling berhubung dan bersetuju untuk meneruskan perbuncangan dengan pengeluar-pengeluar utama minyak global.

Malah, pentadbiran Trump juga merancang untuk menghantar wakil khas ke Riyadh untuk membincangkan mengenai penurunan pengeluaran.

Arab Saudi telah meningkatkan bekalan minyak mentah pada hari Rabu kepada lebih 12 juta tong sehari, menurut sumber industri, biarpun permintaan menurun. –

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.

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.

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.

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.

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.

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.

gap up kaunter???

-carimin
-alam
-velesto
-hibiscus
-sapnrg
-dayang
-perdana
-hengyuan
-petronm
-perdana

gap up kaunter???

-carimin
-alam
-velesto
-hibiscus
-sapnrg
-dayang
-perdana
-hengyuan
-petronm
-perdana

gap up kaunter???

-carimin
-alam
-velesto
-hibiscus
-sapnrg
-dayang
-perdana
-hengyuan
-petronm
-perdana

gap up kaunter???

-carimin
-alam
-velesto
-hibiscus
-sapnrg
-dayang
-perdana
-hengyuan
-petronm
-perdana

NEW YORK, April 2 (Reuters) - Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms.

Such a sizeable deal, however, would likely require participation from other big producers outside of the OPEC cartel.

Saudi Arabia said it would call an emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC), Saudi state media reported.

The Wall Street Journal reported that the kingdom would consider dropping output to roughly 9 million bpd, or about 3 million bpd less than what it planned on pumping in April.

Brent futures rose US$5.20, or 21.0%, to settle at US$29.94 a barrel, while US West Texas Intermediate (WTI) crude rose US$5.01, or 24.7%, to settle at US$25.32.

Despite the huge gains, oil prices have still lost more than half their value this year.

The market slumped in early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis boosted output to more than 12 million bpd and shipped discounted cargoes worldwide.

Since then, the coronavirus pandemic has severely cut fuel demand. US crude prices fell under US$20 per barrel a few times in recent days.

"The question will come down to, Will they be able to agree to something? It's taken a couple of weeks of Brent at US$25 and WTI at US$20 and it seems as if the Russians are more approachable than they were a month ago," said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.

Brent soared as much as 47% during the session, its highest intraday percentage gain ever. WTI jumped as much as 35%, its second highest ever, after an intraday gain of 36% on March 19.

Oil prices pulled back from those highs as traders questioned whether Russia and Saudi Arabia could actually agree on such a big production cut.

A senior administration official told Reuters the United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask US domestic oil producers to chip in with their own cuts.

"Despite today’s headlines, we remain skeptical that a deal to cut output will materialize," analysts at Capital Economics said, noting Saudi Arabia is unlikely to cut output unless Russia and possibly other non-OPEC producers, like the United States and Canada, join in a coordinated reduction.

With fuel demand expected to fall by 20% to 30% in coming months, pressure was building on oil producers to reach a deal, and Trump expressed growing frustration about the crude price and its effect on the energy industry.

Texas regulators are exploring the possibility of cutting production in that state, which produces more than 5 million bpd.

NEW YORK, April 2 (Reuters) - Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms.

Such a sizeable deal, however, would likely require participation from other big producers outside of the OPEC cartel.

Saudi Arabia said it would call an emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC), Saudi state media reported.

The Wall Street Journal reported that the kingdom would consider dropping output to roughly 9 million bpd, or about 3 million bpd less than what it planned on pumping in April.

Brent futures rose US$5.20, or 21.0%, to settle at US$29.94 a barrel, while US West Texas Intermediate (WTI) crude rose US$5.01, or 24.7%, to settle at US$25.32.

Despite the huge gains, oil prices have still lost more than half their value this year.

The market slumped in early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis boosted output to more than 12 million bpd and shipped discounted cargoes worldwide.

Since then, the coronavirus pandemic has severely cut fuel demand. US crude prices fell under US$20 per barrel a few times in recent days.

"The question will come down to, Will they be able to agree to something? It's taken a couple of weeks of Brent at US$25 and WTI at US$20 and it seems as if the Russians are more approachable than they were a month ago," said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.

Brent soared as much as 47% during the session, its highest intraday percentage gain ever. WTI jumped as much as 35%, its second highest ever, after an intraday gain of 36% on March 19.

Oil prices pulled back from those highs as traders questioned whether Russia and Saudi Arabia could actually agree on such a big production cut.

A senior administration official told Reuters the United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask US domestic oil producers to chip in with their own cuts.

"Despite today’s headlines, we remain skeptical that a deal to cut output will materialize," analysts at Capital Economics said, noting Saudi Arabia is unlikely to cut output unless Russia and possibly other non-OPEC producers, like the United States and Canada, join in a coordinated reduction.

With fuel demand expected to fall by 20% to 30% in coming months, pressure was building on oil producers to reach a deal, and Trump expressed growing frustration about the crude price and its effect on the energy industry.

Texas regulators are exploring the possibility of cutting production in that state, which produces more than 5 million bpd.

NEW YORK, April 2 (Reuters) - Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms.

Such a sizeable deal, however, would likely require participation from other big producers outside of the OPEC cartel.

Saudi Arabia said it would call an emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC), Saudi state media reported.

The Wall Street Journal reported that the kingdom would consider dropping output to roughly 9 million bpd, or about 3 million bpd less than what it planned on pumping in April.

Brent futures rose US$5.20, or 21.0%, to settle at US$29.94 a barrel, while US West Texas Intermediate (WTI) crude rose US$5.01, or 24.7%, to settle at US$25.32.

Despite the huge gains, oil prices have still lost more than half their value this year.

The market slumped in early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis boosted output to more than 12 million bpd and shipped discounted cargoes worldwide.

Since then, the coronavirus pandemic has severely cut fuel demand. US crude prices fell under US$20 per barrel a few times in recent days.

"The question will come down to, Will they be able to agree to something? It's taken a couple of weeks of Brent at US$25 and WTI at US$20 and it seems as if the Russians are more approachable than they were a month ago," said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.

Brent soared as much as 47% during the session, its highest intraday percentage gain ever. WTI jumped as much as 35%, its second highest ever, after an intraday gain of 36% on March 19.

Oil prices pulled back from those highs as traders questioned whether Russia and Saudi Arabia could actually agree on such a big production cut.

A senior administration official told Reuters the United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask US domestic oil producers to chip in with their own cuts.

"Despite today’s headlines, we remain skeptical that a deal to cut output will materialize," analysts at Capital Economics said, noting Saudi Arabia is unlikely to cut output unless Russia and possibly other non-OPEC producers, like the United States and Canada, join in a coordinated reduction.

With fuel demand expected to fall by 20% to 30% in coming months, pressure was building on oil producers to reach a deal, and Trump expressed growing frustration about the crude price and its effect on the energy industry.

Texas regulators are exploring the possibility of cutting production in that state, which produces more than 5 million bpd.

NEW YORK, April 2 (Reuters) - Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms.

Such a sizeable deal, however, would likely require participation from other big producers outside of the OPEC cartel.

Saudi Arabia said it would call an emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC), Saudi state media reported.

The Wall Street Journal reported that the kingdom would consider dropping output to roughly 9 million bpd, or about 3 million bpd less than what it planned on pumping in April.

Brent futures rose US$5.20, or 21.0%, to settle at US$29.94 a barrel, while US West Texas Intermediate (WTI) crude rose US$5.01, or 24.7%, to settle at US$25.32.

Despite the huge gains, oil prices have still lost more than half their value this year.

The market slumped in early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis boosted output to more than 12 million bpd and shipped discounted cargoes worldwide.

Since then, the coronavirus pandemic has severely cut fuel demand. US crude prices fell under US$20 per barrel a few times in recent days.

"The question will come down to, Will they be able to agree to something? It's taken a couple of weeks of Brent at US$25 and WTI at US$20 and it seems as if the Russians are more approachable than they were a month ago," said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.

Brent soared as much as 47% during the session, its highest intraday percentage gain ever. WTI jumped as much as 35%, its second highest ever, after an intraday gain of 36% on March 19.

Oil prices pulled back from those highs as traders questioned whether Russia and Saudi Arabia could actually agree on such a big production cut.

A senior administration official told Reuters the United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask US domestic oil producers to chip in with their own cuts.

"Despite today’s headlines, we remain skeptical that a deal to cut output will materialize," analysts at Capital Economics said, noting Saudi Arabia is unlikely to cut output unless Russia and possibly other non-OPEC producers, like the United States and Canada, join in a coordinated reduction.

With fuel demand expected to fall by 20% to 30% in coming months, pressure was building on oil producers to reach a deal, and Trump expressed growing frustration about the crude price and its effect on the energy industry.

Texas regulators are exploring the possibility of cutting production in that state, which produces more than 5 million bpd.

NEW YORK, April 2 (Reuters) - Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms.

Such a sizeable deal, however, would likely require participation from other big producers outside of the OPEC cartel.

Saudi Arabia said it would call an emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC), Saudi state media reported.

The Wall Street Journal reported that the kingdom would consider dropping output to roughly 9 million bpd, or about 3 million bpd less than what it planned on pumping in April.

Brent futures rose US$5.20, or 21.0%, to settle at US$29.94 a barrel, while US West Texas Intermediate (WTI) crude rose US$5.01, or 24.7%, to settle at US$25.32.

Despite the huge gains, oil prices have still lost more than half their value this year.

The market slumped in early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis boosted output to more than 12 million bpd and shipped discounted cargoes worldwide.

Since then, the coronavirus pandemic has severely cut fuel demand. US crude prices fell under US$20 per barrel a few times in recent days.

"The question will come down to, Will they be able to agree to something? It's taken a couple of weeks of Brent at US$25 and WTI at US$20 and it seems as if the Russians are more approachable than they were a month ago," said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.

Brent soared as much as 47% during the session, its highest intraday percentage gain ever. WTI jumped as much as 35%, its second highest ever, after an intraday gain of 36% on March 19.

Oil prices pulled back from those highs as traders questioned whether Russia and Saudi Arabia could actually agree on such a big production cut.

A senior administration official told Reuters the United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask US domestic oil producers to chip in with their own cuts.

"Despite today’s headlines, we remain skeptical that a deal to cut output will materialize," analysts at Capital Economics said, noting Saudi Arabia is unlikely to cut output unless Russia and possibly other non-OPEC producers, like the United States and Canada, join in a coordinated reduction.

With fuel demand expected to fall by 20% to 30% in coming months, pressure was building on oil producers to reach a deal, and Trump expressed growing frustration about the crude price and its effect on the energy industry.

Texas regulators are exploring the possibility of cutting production in that state, which produces more than 5 million bpd.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump Friday as the administration seeks ways to help the beleaguered industry.

The meeting, which was confirmed by the American Petroleum Institute, comes just as Saudi Arabia unleashes a record volume of crude into the already-glutted global oil market, escalating a price war with Russia. Trump, who once hailed the unprecedented plunge in oil prices as a “tax cut” for American consumers, has stepped up efforts in recent days to intervene as the rout threatens to wipe out tens of thousands of jobs in America’s shale patch.

KUALA LUMPUR: Higher crude oil prices lifted oil and gas stocks higher at the close on Thursday, pushing Bursa Malaysia to close in green.

At 5pm, the FBM KLCI closed up 8.24 points, or 0.62% to 1,330.90. The benchmark index opened 2.04 points lower this morning.

Market breadth turned positive as gainers were on the upper hand against the losers on a ratio of 671-to-203 stocks. Traded volumes stood at 5.14 billion shares worth RM2.43bil.

Dealers said market sentiment was lifted by a rebound in crude oil prices on hopes for a deal to end the price war between Saudi Arabia and Russia.

Crude futures surged after US President Donald Trump expressed optimism that a damaging price war between Saudi Arabia and Russia can be resolved.

Brent crude rose 8.97%, or US$2.22 to US$26.96 while US West Texas Intermediate (WTI) advanced 8.67%, or US$1.76 to US$22.07.

Anchoring the gainers list on Bursa Malaysia is Nestle, which added RM1.70 to RM137.80, followed by Petronas Dagangan, rising RM1.32 to RM21.70 and QL Resources, gaining 40 sen to RM7.90.

Decliners on the broader market include Panasonic Manufacturing, declining 50 sen to RM103, PPB Group falling 12.5 sen to 82 sen and EIG, dropping 12 sen to 39 sen.

On the external front, Chinese shares ended higher with the Shanghai Composite index rising 1.69% at 2,780.64. The blue-chip CSI300 index was up 1.62%.

Hong Kong’s Hang Seng index was up 194.27 points, or 0.84%, at 23,280.06, Japan's Nikkei 225 fell 1.37% to 17,818.72 while South Korea’s Kospi added 2.34% to 1,724.86.

KUALA LUMPUR: Higher crude oil prices lifted oil and gas stocks higher at the close on Thursday, pushing Bursa Malaysia to close in green.

At 5pm, the FBM KLCI closed up 8.24 points, or 0.62% to 1,330.90. The benchmark index opened 2.04 points lower this morning.

Market breadth turned positive as gainers were on the upper hand against the losers on a ratio of 671-to-203 stocks. Traded volumes stood at 5.14 billion shares worth RM2.43bil.

Dealers said market sentiment was lifted by a rebound in crude oil prices on hopes for a deal to end the price war between Saudi Arabia and Russia.

Crude futures surged after US President Donald Trump expressed optimism that a damaging price war between Saudi Arabia and Russia can be resolved.

Brent crude rose 8.97%, or US$2.22 to US$26.96 while US West Texas Intermediate (WTI) advanced 8.67%, or US$1.76 to US$22.07.

Anchoring the gainers list on Bursa Malaysia is Nestle, which added RM1.70 to RM137.80, followed by Petronas Dagangan, rising RM1.32 to RM21.70 and QL Resources, gaining 40 sen to RM7.90.

Decliners on the broader market include Panasonic Manufacturing, declining 50 sen to RM103, PPB Group falling 12.5 sen to 82 sen and EIG, dropping 12 sen to 39 sen.

On the external front, Chinese shares ended higher with the Shanghai Composite index rising 1.69% at 2,780.64. The blue-chip CSI300 index was up 1.62%.

Hong Kong’s Hang Seng index was up 194.27 points, or 0.84%, at 23,280.06, Japan's Nikkei 225 fell 1.37% to 17,818.72 while South Korea’s Kospi added 2.34% to 1,724.86.

KUALA LUMPUR: Higher crude oil prices lifted oil and gas stocks higher at the close on Thursday, pushing Bursa Malaysia to close in green.

At 5pm, the FBM KLCI closed up 8.24 points, or 0.62% to 1,330.90. The benchmark index opened 2.04 points lower this morning.

Market breadth turned positive as gainers were on the upper hand against the losers on a ratio of 671-to-203 stocks. Traded volumes stood at 5.14 billion shares worth RM2.43bil.

Dealers said market sentiment was lifted by a rebound in crude oil prices on hopes for a deal to end the price war between Saudi Arabia and Russia.

Crude futures surged after US President Donald Trump expressed optimism that a damaging price war between Saudi Arabia and Russia can be resolved.

Brent crude rose 8.97%, or US$2.22 to US$26.96 while US West Texas Intermediate (WTI) advanced 8.67%, or US$1.76 to US$22.07.

Anchoring the gainers list on Bursa Malaysia is Nestle, which added RM1.70 to RM137.80, followed by Petronas Dagangan, rising RM1.32 to RM21.70 and QL Resources, gaining 40 sen to RM7.90.

Decliners on the broader market include Panasonic Manufacturing, declining 50 sen to RM103, PPB Group falling 12.5 sen to 82 sen and EIG, dropping 12 sen to 39 sen.

On the external front, Chinese shares ended higher with the Shanghai Composite index rising 1.69% at 2,780.64. The blue-chip CSI300 index was up 1.62%.

Hong Kong’s Hang Seng index was up 194.27 points, or 0.84%, at 23,280.06, Japan's Nikkei 225 fell 1.37% to 17,818.72 while South Korea’s Kospi added 2.34% to 1,724.86.

KUALA LUMPUR: Higher crude oil prices lifted oil and gas stocks higher at the close on Thursday, pushing Bursa Malaysia to close in green.

At 5pm, the FBM KLCI closed up 8.24 points, or 0.62% to 1,330.90. The benchmark index opened 2.04 points lower this morning.

Market breadth turned positive as gainers were on the upper hand against the losers on a ratio of 671-to-203 stocks. Traded volumes stood at 5.14 billion shares worth RM2.43bil.

Dealers said market sentiment was lifted by a rebound in crude oil prices on hopes for a deal to end the price war between Saudi Arabia and Russia.

Crude futures surged after US President Donald Trump expressed optimism that a damaging price war between Saudi Arabia and Russia can be resolved.

Brent crude rose 8.97%, or US$2.22 to US$26.96 while US West Texas Intermediate (WTI) advanced 8.67%, or US$1.76 to US$22.07.

Anchoring the gainers list on Bursa Malaysia is Nestle, which added RM1.70 to RM137.80, followed by Petronas Dagangan, rising RM1.32 to RM21.70 and QL Resources, gaining 40 sen to RM7.90.

Decliners on the broader market include Panasonic Manufacturing, declining 50 sen to RM103, PPB Group falling 12.5 sen to 82 sen and EIG, dropping 12 sen to 39 sen.

On the external front, Chinese shares ended higher with the Shanghai Composite index rising 1.69% at 2,780.64. The blue-chip CSI300 index was up 1.62%.

Hong Kong’s Hang Seng index was up 194.27 points, or 0.84%, at 23,280.06, Japan's Nikkei 225 fell 1.37% to 17,818.72 while South Korea’s Kospi added 2.34% to 1,724.86.

KUALA LUMPUR: Higher crude oil prices lifted oil and gas stocks higher at the close on Thursday, pushing Bursa Malaysia to close in green.

At 5pm, the FBM KLCI closed up 8.24 points, or 0.62% to 1,330.90. The benchmark index opened 2.04 points lower this morning.

Market breadth turned positive as gainers were on the upper hand against the losers on a ratio of 671-to-203 stocks. Traded volumes stood at 5.14 billion shares worth RM2.43bil.

Dealers said market sentiment was lifted by a rebound in crude oil prices on hopes for a deal to end the price war between Saudi Arabia and Russia.

Crude futures surged after US President Donald Trump expressed optimism that a damaging price war between Saudi Arabia and Russia can be resolved.

Brent crude rose 8.97%, or US$2.22 to US$26.96 while US West Texas Intermediate (WTI) advanced 8.67%, or US$1.76 to US$22.07.

Anchoring the gainers list on Bursa Malaysia is Nestle, which added RM1.70 to RM137.80, followed by Petronas Dagangan, rising RM1.32 to RM21.70 and QL Resources, gaining 40 sen to RM7.90.

Decliners on the broader market include Panasonic Manufacturing, declining 50 sen to RM103, PPB Group falling 12.5 sen to 82 sen and EIG, dropping 12 sen to 39 sen.

On the external front, Chinese shares ended higher with the Shanghai Composite index rising 1.69% at 2,780.64. The blue-chip CSI300 index was up 1.62%.

Hong Kong’s Hang Seng index was up 194.27 points, or 0.84%, at 23,280.06, Japan's Nikkei 225 fell 1.37% to 17,818.72 while South Korea’s Kospi added 2.34% to 1,724.86.

KUALA LUMPUR: Higher crude oil prices lifted oil and gas stocks higher at the close on Thursday, pushing Bursa Malaysia to close in green.

At 5pm, the FBM KLCI closed up 8.24 points, or 0.62% to 1,330.90. The benchmark index opened 2.04 points lower this morning.

Market breadth turned positive as gainers were on the upper hand against the losers on a ratio of 671-to-203 stocks. Traded volumes stood at 5.14 billion shares worth RM2.43bil.

Dealers said market sentiment was lifted by a rebound in crude oil prices on hopes for a deal to end the price war between Saudi Arabia and Russia.

Crude futures surged after US President Donald Trump expressed optimism that a damaging price war between Saudi Arabia and Russia can be resolved.

Brent crude rose 8.97%, or US$2.22 to US$26.96 while US West Texas Intermediate (WTI) advanced 8.67%, or US$1.76 to US$22.07.

Anchoring the gainers list on Bursa Malaysia is Nestle, which added RM1.70 to RM137.80, followed by Petronas Dagangan, rising RM1.32 to RM21.70 and QL Resources, gaining 40 sen to RM7.90.

Decliners on the broader market include Panasonic Manufacturing, declining 50 sen to RM103, PPB Group falling 12.5 sen to 82 sen and EIG, dropping 12 sen to 39 sen.

On the external front, Chinese shares ended higher with the Shanghai Composite index rising 1.69% at 2,780.64. The blue-chip CSI300 index was up 1.62%.

Hong Kong’s Hang Seng index was up 194.27 points, or 0.84%, at 23,280.06, Japan's Nikkei 225 fell 1.37% to 17,818.72 while South Korea’s Kospi added 2.34% to 1,724.86.

It's a reversal signal (short term rebound finished?!) it's time to take your profit.

It's a reversal signal (short term rebound finished?!) it's time to take your profit.