Unchanged today. At least better than Reach's 1.5 sen drop.

Point is, that huge multi-billion deal carries the implication of many many thousands of American jobs. If Trump does anything to scuttle that deal, like by bullying Saudi to keep lowering oil price, then his own job as Prez is going to be in danger.

Saudi just signed an agreement to proceed with purchase of US$15 bil Terminal High Altitude Air Defence (THAAD) missile defence system with US defence contractor Lockheed & Martin. And that is only part of an entire US$110 bil arms acquisition deal.

So, Donald Trump can't keep pressing Saudi to push down oil price anymore. Becos Saudi are going to need high oil price to finance that big purchase.

If Donald makes any more hassling & hustling on MBS, Saudi just chucks deal into the bin, then buys S400 system from Russia, instead of US-made THAAD.

So, it's touche.

Oil price collapse only 'transitional', i.e. TEMPORARY.

Falling oil prices could prompt world leaders to agree on production policy at G-20 summit, analysts say.

https://www.cnbc.com/2018/11/28/oil-prices-g-20-summit-could-see-world-leaders-agree-on-policy-ahead-of-opec-meeting.html

B4B4, post those sites by Andy Hall and Mark Fisher.

Excellent Quarter result

So, what is so disappointing about a RM7 mil qrtr profit, I wonder. Still much better than Sapnrg's RM19 bil debt.

Congratulations to those guys who sold cut loss in panic @25.5

Very clever players they are. Very generous too. Thanks loads, fellas.

:-P

When Mother flies, Daughter will be flying even faster. Becos Daughter is more nimble & more agile than Mother.

It's official. Perdana is current O&G flavour of the month.

Good volume. Coming close to my first sell target. Then out, and then in again.

Looking good & firm

Holding up very well

Brent holding well around 66 - 67 range. Could be hitting 70s again fairly soon.

Could be attacking 69 by tomorrow

If both OPEC & Russia proceed with proposed production cut, there is nothing that Donald Trump can do. He is only issuing empty threats on Twitter now.

And they should both stop allowing themselves to be bossed around by him.

Brent creeping back up toward 72

With latest developments on OPEC front, Perdana in for good times ahead.

You need to cheer up a bit more, Contrarian. Try to see the positive side of things.

OPEC-Russia juggernaut on the move. Brent going to return to 80 again. And there ain't much that Donald Trump can do about it anymore. He has run out of all stinkin bullshit dirty tricks.

Sunday Abu Dhabi is OPEC Joint Ministerial Meeting, with Russia in as kind of a collaboration partner. They're all pissed off with Donald Trump.

First he pressured them all to up output substantially, purportedly to cover for predicted Iranian shortfall. Then, when supply is already upped, he deliberately gives sanction waivers to eight countries who are buyers of Iranian oil, causing oil price to fall even more. Who wouldn't be angry.

Sunday Abu Dhabi meeting is special OPEC-Russia meeting to discuss oil production strategy for 2019.

December meeting is exclusive OPEC meeting for OPEC members only. But Russia might still be there as special observer by special invitation.

LOL. Unusually secretive for DC. Wonder why.

Beautiful day today

A ministerial committee composed of some members of OPEC and OPEC allies, e.g. Russia, meets on Sunday in Abu Dhabi to discuss the outlook for 2019.

OPEC was feeling the Trump pressure, but producers took action with the thinking that they just needed to get past the U.S. election," said Joe McMonigle, analyst at Hedgeye in Washington, in a note Wednesday. "We expect to start hearing public comments from OPEC ministers this weekend" about PULLING BACK (i.e. REVERSING DIRECTION) on the recent production boost.

Oil producing countries may be more willing to cut output, now that the U.S. midterm elections are over. Trump, whose Republican party was fighting to retain control of congress, had complained of higher gasoline (i.e. petrol) prices. But now he has lost the House of Representatives to Democrats.

LOL

40 in danger of being breached decisively soon

Touched 27.5

Also, when you develop downstream wing after hvg established upstream wing, you already hv strong networking with the upstream guys globally. So you can draw on that advantage in sourcing for your cheapest & most reliable crude supplies.

Posted by WealthSoWonderful > Nov 5, 2018 02:38 PM | Report Abuse X

It's always good for any serious upstream operator to own & develop a downstream wing. Helps spread the risk. Also, downstream biz in petrochem sector for instance uses crude as a raw material. So, for downstream wing, for petrochem biz, lower crude price = higher profit.

That is the rationale for Petronas going into downstream petrochem in a big way at Pengerang.

Could be continuing uptrend Monday

Good news coming from many directions

US-China trade war could begin moving gradually toward peaceful resolution.

https://www.marketwatch.com/story/kudlow-its-possible-new-tariffs-wont-be-imposed-on-china-2018-10-31?siteid=bigcharts&dist=bigcharts

LOL. When that Urgent song comes up, there's always something good coming your way.

Quite possible

LOL

Brent holding well above 77

Main factors that have combined to knock US markets down this month:

(1) some disappointing earnings;
(2) fear of rising interest rates;
(3) a brewing conflict between Italy & EU over budget spending;
(4) criticism of oil power Saudi Arabia regarding the Kashoggi killing; and
(5) worries that world growth is losing steam.

None of those are really such immense earth shaking issues that are going to remain unresolved forever

Brent is simply knee jerking to that silly statement by Saudi oil minister, who was just trying to kiss US arse after that ridiculous shit his country did in Istanbul.

Ha ha. But you are not alone, TYS.

Brent now climbing back up to 77

It will come back. Nobody can stop it.

Only becos many guys still do not know how powerful the punching power of Carimin is.

47 still doable

Cannot compare two cars of vastly different cc. Proton Saga 65k, Toyota Camry 170k. Cannot be same price.

Reach biding its time

Good price foe entering

Yes. Cautious optimism.