Brent crude still trading above usd20 as below that price only a few countries can survive.
Cost for Saudi and Kuwait to produce that oil is below usd10 while Russia is just breaking even
Malaysia sweet tapis oil is selling at a premium so Malaysia still ok.
Petronas must now draw on its cash reserve in this time of emergency
1. Cut back or delay or stagger capex. This won't be good for oil exploration topside like Dayang, carimin, penergy or deleum. Only T7 global and destini in subsea maintenance will survive.
2. Cut back oil revenue to Govt or it might endanger it's cash surplus position
In any case the fall of oil prices will directly benefit Malaysia Glove exporting companies
In this context just sell Ogse stocks and switch into glove stocks
Apollo! No worries! Soon! But no use! Can only drive short distance!
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Posted by StockStock > 2020-04-21 23:24 | Report Abuse
There is a probability that we will wake up tomorrow morning seeing Dow drop 2000+- points,and we will see all the o&g counters hit limit down.