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2020-03-12 12:03 | Report Abuse
Crude oil price will drop below usd 3.00.
Prepare for the worst.
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2020-03-12 12:02 | Report Abuse
Crude oil price will drop below usd 3.00.
Better beware of the worst .
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2020-03-12 11:01 | Report Abuse
Crude Oil price going to drop below rm 30
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2020-03-12 10:59 | Report Abuse
Kyy bring lots of investors to visit Holland for this trip
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2020-03-12 10:59 | Report Abuse
Idss anytime, prepare for the worst
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2020-03-12 10:58 | Report Abuse
Idss anytime, prepare for the worst
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2020-03-12 10:18 | Report Abuse
Sell before wti crude dropping 10% .
Idss soon
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2020-03-12 10:16 | Report Abuse
WTI Crude 30.84 -2.14 -6.49%(10 Minutes Delay)
Brent Crude 33.64 -2.15 -6.01%
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2020-03-12 10:09 | Report Abuse
WTI Crude 30.90 -2.08 -6.31%
Brent Crude 33.67 -2.12 -5.92%
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2020-03-12 10:06 | Report Abuse
WTI Crude 31.01 -1.97 -5.97%
Brent Crude 33.86 -1.93 -5.39%
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2020-03-12 10:04 | Report Abuse
Really bad, oil price already drop almost 10 percent since last night
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2020-03-12 09:59 | Report Abuse
Oil price already dropped 10% since last night
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2020-03-12 09:59 | Report Abuse
WTI Crude 31.30 -1.68 -5.09%
Brent Crude 34.21 -1.58 -4.41%
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2020-03-12 09:58 | Report Abuse
Why must kyy promote dayang so hard, until so many investors get burn
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2020-03-12 09:36 | Report Abuse
WTI Crude 32.14 -0.84 -2.55%
Brent Crude 35.02 -0.77 -2.15%
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2020-03-12 09:34 | Report Abuse
Oil price already dropped 6% since last night
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2020-03-12 09:30 | Report Abuse
Oil price drop again after last night dropping
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2020-03-12 09:29 | Report Abuse
WTI Crude 32.22 -0.76 -2.30%
Brent Crude 34.99 -0.80 -2.24%
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2020-03-12 09:28 | Report Abuse
Saudi Arabia doubles down on threat to flood the oil market
By Mark Thompson, CNN Business
Updated 4:33 PM EDT, Wed March 11, 2020
London(CNN Business)Oil prices are falling again Wednesday after Saudi Arabia doubled-down on its threat to flood the world with millions more barrels of crude despite the coronavirus shock to global energy demand.
Just a day after confirming that it would jack up production by about 2.5 million barrels per day starting April 1 in a battle for market share with Russia and US producers, state oil company Saudi Aramco said it would increase its "maximum sustainable" capacity by 1 million barrels to 13 million per day. In other words, the Saudis are digging in for a war of attrition.
Why Russia and Vladimir Putin are waging an oil war with America
Why Russia and Vladimir Putin are waging an oil war with America
"As this does not affect production in the short term, we believe this does not impact short term prices much, but could influence sentiment negatively, which explains the modest price decline today," said Bjoernar Tonhaugen, head of oil markets at Rystad Energy.
Saudi Arabia had signaled its intention to go all-out for market share over the weekend after the acrimonious collapse of an alliance with Russia that had restrained oil supply in recent years, keeping a floor under prices.
Brent crude futures, the global oil benchmark, and US oil fell 4% to $32.98 on Wednesday. Brent prices have fallen by about 28% since Thursday, and 48% since a peak in early January.
OPEC, led by Saudi Arabia, had proposed additional production cuts through the end of 2020 but Russia refused to agree and warned it would produce as it pleases from next month in a bid to recover market share lost to US shale companies in recent years.
The falling out has opened the door to a free-for-all fight for customers just as the oil industry faces its biggest challenge since the global financial crisis. The coronavirus epidemic is destroying demand for fuel as air travel slumps and as efforts to contain the spread of the disease force businesses to close, at least temporarily.
Saudi Arabia told its preferred customers over the weekend that it would cut its official selling prices by $6 to $8 a barrel. Other members of OPEC are now piling in. ADNOC, the UAE's state oil producer, said Wednesday it was ready to supply 4 million barrels per day in April, up from about 3 million at present.
"In addition, we will accelerate our planned five million barrels per day capacity target," it said in a statement. It had been aiming to hit that target by 2030.
Russia shows no sign of blinking in the standoff with its erstwhile OPEC allies, as it sees an opportunity to undercut American energy dominance. The United States has supplanted Russia as the world's biggest oil producer thanks to the recent shale boom.
"Saudi Arabia announced that it had reduced the prices ... announced the increase in oil production. We believe that in these conditions this is probably not the best option," Russian energy minister Alexander Novak told state media on Wednesday. "It would be right to keep the production at the levels achieved in the first quarter."
Two economic scenarios for the impact of coronavirus on the US
Two economic scenarios for the impact of coronavirus on the US
Now, the energy meltdown threatens to cause a repeat of the 2014-2016 crash that bankrupted dozens of oil and gas companies and caused hundreds of thousands of layoffs.
It could also seriously damage countries such as Iraq, Angola, Nigeria and Algeria at a time of mounting concern about the health of the global economy because of coronavirus.
Fatih Birol, head of the International Energy Agency, told CNN Business on Tuesday that producers should stop playing "Russian roulette" with the oil market because it could have "grave consequences."
"The only thing I would hope, that in the oil markets, common sense will prevail and all the actors behave responsibly as the world is facing major challenges today," he told CNN Business' Richard Quest. "Weak economy and the coronavirus is a problem for all of us. If they don't do it, the citizens of this world will not forget it."
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2020-03-12 09:09 | Report Abuse
Oil price and dow Jones index drop like shit last night
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2020-03-11 13:22 | Report Abuse
Oil rises for 2nd day amid hopes for output cut by US producers
PUBLISHED TUE, MAR 10 202010:26 PM EDTUPDATED 2 HOURS AGO
Reuters
KEY POINTS
Brent crude futures rose $1.44, or 3.9%, to $38.66 a barrel by 0226 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.12, or 3.3%, to $35.48 a barrel, following a jump of over 8% the previous day.
GP: Oil field 200227 Asia
A derek pumps in an oil field in Kuwait near the Saudi Arabian border.
Joe Raedle | Getty Images
Oil prices climbed for a second day on Wednesday, lifted by hopes that U.S. producers will cut output, but gains were limited compared with Monday’s crash after Saudi Arabia and Russia triggered a price war.
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2020-03-11 13:11 | Report Abuse
（纽约11日综合电）由于俄罗斯能源部长诺瓦克表示，俄国对于未来和石油输出国家组织（OPEC）合作稳定油市，抱持开放的态度，国际油价周二反弹大涨。
纽约商品交易所西德州中级原油4月交割价周一大跌25%后，周二大涨10.4%，收在每桶34.36美元。
伦敦北海布兰特原油5月交割价周一大跌24%后，周二大涨8.3%，收在每桶37.22美元。
国际油价周一出现1991年波斯湾战争以来的单日最大跌幅，原因在两大产油国沙地阿拉伯和俄罗斯打起价格战，同时市场对冠病疫情的经济冲击也忧心忡忡。
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2020-03-11 10:30 | Report Abuse
Oil price jumps 8% on stimulus hopes, spending cuts by US producers
ENERGY
Wednesday, 11 Mar 20206:44 AM MYT
oil exxonmobil refinery texas
NEW YORK:Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
On Monday, U.S. President Donald Trump pledged "major" steps to gird the U.S. economy against the impact of the spreading coronavirus outbreak. Japan's government said it planned to spend more than $4 billion in a second package of steps to cope with the virus.
U.S. shale producers, including Occidental Petroleum Corp , deepened spending cuts that could reduce production.
"There was almost an immediate response from U.S. producers to cut spending that will likely result in diminished U.S. oil output in the months ahead," said John Kilduff, partner at Again Capital LLC in New York, noting "The rapidity of that response helped buoy the market after Monday's collapse."
Oil plunged about 25% on Monday. It rebounded on Tuesday along with equities and other financial markets.
Benchmark Brent futures rose $2.86, or 8.3%, to settle at $37.22 a barrel. U.S. West Texas Intermediate (WTI) crude rose $3.23, or 10.4%, to settle at $34.36.
"The oil price went up today because it went insanely down yesterday, and some bargain hunters are driving things up," said Bjoernar Tonhaugen, head of oil markets at energy consultant Rystad, noting "It will go down further with some days going up in between."
Both benchmarks plunged on Monday to their lowest since February 2016, their biggest one-day percentage declines since Jan. 17,1991, at the outset of the first Gulf War.
Trading volumes in the front-month for both contracts were well below the record highs seen on Monday, when volumes soared after Saudi Arabia, Russia and other major oil producers ended three years of cooperation to limit supply and started a price war for market share.
Saudi, the world's biggest oil exporter, escalated tensions with plans to supply 12.3 million barrels per day (bpd) in April, well above current production levels of 9.7 million bpd, according to Saudi Aramco <2222.SE> CEO Amin Nasser.
"Oil prices have managed to hold on to some gains despite Saudi Arabia's announcement to open the floodgates in April," Rystad's Tonhaugen said, noting "Saudi Arabia is not bluffing and the market will feel it next month."
With oil erasing over a third of its value this week, OPEC members were bleeding over $500 million a day in lost revenue, according to Reuters calculations.
Russian oil minister Alexander Novak said he did not rule out joint measures with OPEC to stabilize the market, adding that the next OPEC+ meeting was planned for May-June.
Saudi Arabia's energy minister, however, told Reuters he did not see a need to hold an OPEC+ meeting in May-June if there was no agreement on measures to deal with the impact of the coronavirus on oil demand and prices.
"I fail to see the wisdom for holding meetings in May-June that would only demonstrate our failure in attending to what we should have done in a crisis like this and taking the necessary measures," Prince Abdulaziz bin Salman said.
"Price wars and pandemics are nothing new to the commodity markets, but both occurring simultaneously is something we have yet to witness in our careers," RBC analysts said in a note.
Sentiment was also lifted after Chinese President Xi Jinping made his first visit to Wuhan since the coronavirus outbreak forced an unprecedented lockdown of the city of 11 million people, a sign that efforts to control the virus are working.
Crude prices drew some support from this, although analysts expect global oil demand will continue to slump during the outbreak, which has spread beyond China and prompted Italy to implement a nationwide lockdown.
U.S. crude oil inventories rose 6.4 million barrels last week to 453 million barrels, data from industry group the American Petroleum Institute showed on Tuesday. Analysts had expected a build of 2.3 million barrels. Official U.S. government data is due on Wednesday. - Reuters
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2020-03-11 10:06 | Report Abuse
WTI Crude 35.75 +1.39 +4.05%
Brent Crude 38.90 +1.68 +4.51%
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2020-03-10 22:18 | Report Abuse
Russia hints at further talks with Saudi Arabia after oil prices crash
PUBLISHED TUE, MAR 10 2020 7:03 AM EDT
UPDATED 44 MIN AGO
Sam Meredith
@SMEREDITH19
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KEY POINTS
International benchmark Brent crude traded at $37.45 Tuesday morning, up over 8%, while U.S. West Texas Intermediate (WTI) stood at $34.05, around 9% higher.
It comes after Brent and WTI both dropped 24% on Monday, sinking to more than four-year lows.
Russia's energy ministry has proposed to hold a meeting with Russian oil companies on Wednesday, Reuters reported, citing two unnamed sources.
Premium: Alexander Novak Russia 180124
Russia Energy Minister Alexander Novak pictured at a joint press conference during the 173rd Ordinary Meeting of the Organisation of Petroleum Exporting Countries (OPEC) in Vienna, Austria on November 30, 2017.
Omar Marques | Anadolu Agency | Getty Images
Russia has refused to rule out talks with OPEC to stabilize energy markets, according to reports, after oil prices registered their worst declines in almost 30 years on Monday.
International benchmark Brent crude traded at $37.32 Tuesday afternoon, up over 8.5%, while U.S. West Texas Intermediate (WTI) stood at $33.69, around 8.2% higher.
It comes after Brent and WTI both dropped 24% on Monday, sinking to more than four-year lows.
The moves follow a breakdown in talks between the kingpin of oil-producing group OPEC, Saudi Arabia, and non-OPEC member Russia late last week.
Markets had been hoping for an agreement by both countries, and other oil producers, to curb oil output in an effort to bolster prices; their failure to agree led oil prices to crash on Monday.
Speaking to reporters Tuesday, Russian Energy Minister Alexander Novak said that Moscow had not ruled out measures with OPEC to stabilize oil markets, according to Interfax news agency.
Russia's energy ministry has proposed to hold a meeting with Russian oil companies on Wednesday, Reuters reported, citing two unnamed sources.
They are expected to discuss whether to prolong Russia's alliance with OPEC.
The collapse of the OPEC and non-OPEC agreement "does not appear to have been part of any pre-meditated strategy or plan on Russia's part or done with the intention of undermining U.S. shale production," Daragh McDowell, head of Europe and principal Russia analyst at Verisk Maplecroft, told CNBC via email.
"The arrangement was unpopular with key members of the Russian elite — notably Rosneft's Igor Sechin — and the economic damage caused by the COVID-19 outbreak provided a handy pretext for abandoning the deal."
How did we get here?
Last week, the 14-member group recommended additional production cuts of 1.5 million bpd starting in April and extending until the end of the year. But OPEC-ally Russia rejected the additional cuts when the broader energy alliance met on Friday.
The meeting concluded with no directive about the production cuts that are currently set to expire at the end of the month.
In response, Saudi Arabia announced massive discounts to its official selling prices for April, with state-owned oil giant Saudi Aramco expected to ramp up production.
Riyadh currently pumps 9.7 million bpd but has the capacity to increase production up to 12.5 million bpd
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2020-03-10 15:32 | Report Abuse
Notconfused Warriors88 , please stop the spam
10/03/2020 3:27 PM
It's not spam. All the info with link.
Dow Jones futures rose 800 points
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Stock: [ARMADA]: BUMI ARMADA BERHAD
2020-03-12 12:19 | Report Abuse
https://www.theedgemarkets.com/article/uae-joins-saudi-opening-oil-taps-row-russia-slams-crude-prices