I think d oil stored by China Japan n others can satisfy their consumption for 2 to 3 years even if ths countries stopped importing for a long time so how can d prices go up?
China has no place to store oil even if oil is given free. The oil is even stored in oil tanker floating in sea. When oil price recover. They may want to sell it to stop paying storage fee.
Under this kind of scenerio. To claim oil is bottom is as good as pointing to an egg to say its a chicken.
China has been buying oil at 60. Which they now realised it has been a mistake n foolish act. They assume oil would quick rebound. In many places. Oil are sold in black mkt at 15 a barrel.
Personally i feel oil wil b below 20 in yrs to come. Endless skl shouting oil wil rebound since 80. Only to see it 26. Everytime it stage a tech rebound. The same group of shameless skl jump out to proclaim oil has bottom. A true bottom wil only b found when those skl turn bearish on every tech rebound.
As long as oil is below 60. What u see r mostly tech rebound with huge hedge fund moving up n down short term price.
Previously my friend earning usd 15k to 25k a month...now 6 month sit at home with less than rm3k allowance a month...and he will receive a terminate of appointment letter anytime
Banks has frozen loan to o&g staff. Irregardless of company. They knew the oil ind is going for prolong consolidation. So what if oil return to 60. Petronas is still struggling to break even while others depend on petronas would b dead.
The deadly oil n gas corp finance that assume oil price forever 100 is the killer. Almost irreversible.
I m sure when oil recover another few days many will come here attack say wrong prediction bla bla. You have been told its not a 1 or 2 weeks prediction but longterm prediction.
ever wonder why WB is accumulating oil refiner Philip now if oil is really bottoming out?....knowing that oil going up wont be good for refining business! So,I suppose WB is expecting oil price to drop further...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Vc Looi
232 posts
Posted by Vc Looi > 2016-01-24 08:58 | Report Abuse
油價是否探底是個問題,但是另一個問題卻鮮少人問就是要在底部多久?