Posted by tkl88 > 2020-04-10 00:15 | Report Abuse

Wow, Congratulations to you all guys who is still keep tight tight & Sailang Armada at current low price !
Good news from the OPEC+ meeting which the output cut was Deal and the oil price then was spike up sharply!

As at ‬12.13am,
Nymex => $26.02 ‪(+0.93) (+3.71%)‬
Brent=> $33.86 ‪(+1.02) (+3.11%)‬

Posted by tkl88 > 2020-04-10 00:41 | Report Abuse

Russia and Saudi Arabia agree deal on oil output cuts: Report
OPEC members are on Thursday set to discuss 'deep cuts' of up to 20 million barrels per day
By MEE and agencies
Published date: 9 April 2020 14:40 UTC
Last update: 18 min 21 sec ago

https://www.middleeasteye.net/news/russia-and-saudi-arabia-agree-deal-oil-output-cuts

Russia and Saudi Arabia have overcome all hurdles to cut oil production at a meeting of OPEC, ending a month-long price war.
Oil prices jumped after Reuters reported that the two countries have agreed to a "deep cut" in crude production.
OPEC and other oil producers were set to debate on Thursday oil cuts as big as 20 million barrels per day (bpd), equivalent to about 20 percent of global supplies, one OPEC source and a Russian source told Reuters.
"That is a global deal," the OPEC source said.
He did not specify if the United States would be involved - something Russia and OPEC producers have insisted on.
A worldwide lockdown to slow the spread of the coronavirus pandemic has cut fuel demand by roughly 30 percent and contributed to a crash in prices that took major benchmarks down by more than two-thirds.
Prices surge
Prices surged over 10 percent earlier on Thursday as producers appeared set to cut production sharply, but the exact details of the cuts remain unclear.
The OPEC and allies including Russia - a group known as OPEC+ - were in talks on Thursday to cut production sharply, with numbers as high as 20 million bpd bandied about, OPEC and Russian sources said.
That would be equivalent to about 20 percent of global supplies, to support prices hammered by the coronavirus crisis. However, it is unclear if a figure that lofty includes cuts made for economic decisions by private producers in the United States, Canada and elsewhere, or if OPEC assumes those countries will mandate cuts, which the US has not wanted to do.
A cut of 20 million bpd would be by far the biggest output cut ever agreed by OPEC. But Russia has insisted it will only reduce output if the United States joins the deal. US laws prevent coordination among private companies.
Analysts, meanwhile, said that even if such record cuts are agreed, they will not be enough.
"Ultimately, the size of the demand shock is simply too large for a coordinated supply cut," analysts at Goldman Sachs said on Thursday.
Following the OPEC+ meeting, energy ministers from the Group of 20 major economies are set to meet on Friday.
The last OPEC meeting in early March ended acrimoniously, with Russia and Saudi Arabia unable to come to an agreement to curb output as the virus spread, adding to the slump in prices.
A source briefed on Saudi Arabia's oil policy said it is ready to cut up to 4 million bpd of its production, but only from its record output levels of 12.3 million bpd achieved in April.
Russia has said it wants output to be cut from the January-March levels before Saudi production jumped.

Posted by tkl88 > 2020-04-10 04:11 | Report Abuse

Great, Dow Jones continue it’s bull run !
DJI closed at =>
23,719.37 (+285.80) (+1.22%) !

Posted by RedEagle > 2020-04-10 07:05 | Report Abuse

Great Bursa

Posted by tkl88 > 2020-04-10 07:15 | Report Abuse

Oil producers agree to cut production by a fifth
* 09 April 2020 Business

https://www.google.com.my/amp/s/www.bbc.com/news/amp/business-52226236

Opec producers and allies have agreed to cut output by more than a fifth to counter the slump in demand caused by coronavirus lockdowns.
The group said it would cut output in May and June by 10 million barrels to help prop up prices. The cuts will then be eased gradually until April 2022.

Opec+, made up of Opec producers and allies including Russia, held talks on Thursday via video conference.
Talks were complicated by disagreements between Russia and Saudi Arabia.

The group and its allies agreed to cut 10 million barrels a day or 10% of global supplies. Another 5 million barrels is expected to be cut by other nations.

It said the cuts would be eased to eight million barrels a day between July and December. Then they would be eased again to six million barrels between January 2021 and April 2022.
Oil prices slumped in March after Opec+ failed to agree cuts .

In the wake of the March meeting, Saudi Arabia and Russia moved to boost production in order to retain market share amid falling global demand.
That, together with the collapse in demand for oil amid the coronavirus pandemic, help to push oil prices to 18-year lows by the end of March.

Prices have recovered some ground since then. Last week, prices jumped 20% after US President Donald Trump said he expected Saudi Arabia and Russia to end their feud.

Thursday's talks will be followed by a conference call on Friday between energy ministers from the G20 countries. It will be hosted by Saudi Arabia.

Kirill Dmitriev, head of Russia's wealth fund and one of Moscow's top oil negotiators told Reuters: "We are expecting other producers outside the Opec+ club to join the measures, which might happen tomorrow during G20."

The US has not committed itself to any cuts although it did say that its oil output was gradually reducing anyway due to plunging oil prices.
President Donald Trump had warned Saudi Arabia that the US would impose sanctions if it did not cut oil production.

Posted by RedEagle > 2020-04-10 07:23 | Report Abuse

VONTOBEL ASSET MANAGEMENT

Michel Salden, head of commodities: "Today's 'deal' did not bring much clarity so far and looks more like an invitation to the G20 energy ministers to agree on a 5 mbpd cut tomorrow which would bring the overall cut in oil output to 15 mbpd."

UNITED ICAP:

Scott Shelton, energy specialist: "While OPEC is cutting as expected, there is simply too much crude in the physical space for sale, with too few pipelines to move it and too few buyers to take it. The most expensive priced oil in the U.S. is Cushing WTI for May and that is likely to lead us to lower prices regardless of what OPEC does."

RBC CAPITAL MARKETS:

Michael Tran, managing director of energy strategy: "The market’s muted price reaction is a sobering indicator of the headwinds that remain, namely demand destruction. An acute near-term surge in crude prices would cripple refining economics and result in further run cuts."

WELLS FARGO:

Roger Read, senior energy analyst: "Until the extreme social distancing economic shutdown measures are significantly relaxed across North America, Europe and parts of Asia, OPEC+ supply cuts are simply playing catch-up at best."

BAIRD

Ethan Bellamy, senior analyst: "10 million barrels per day is insufficient to balance the market.... OPEC’s only real choice to bring the U.S. and other higher-cost producers along is to allow price to ration supply. With half a trillion in reserves, we think the Russians can outlast U.S. producers in a fight for market share."

RYSTAD ENERGY

Bjornar Tonhaugen, head of oil markets: "A 10 million-bpd deal is far lower than what the market needs at the moment. And even that seems to be of a fragile nature, as OPEC+ producers appear to struggle to agree, dragging negotiations longer than expected."

GOLDMAN SACHS

"Our updated 2020 global oil balance suggests that a 10 million barrels per day (bpd) headline cut (for an effective 6.5 million bpd cut in production) would not be sufficient, still requiring an additional 4 million bpd of necessary price induced shut-ins."

MIZUHO

Bob Yawger, director of energy futures: "It will only slow filling of storage. It's not going to save the day, but it's better than nothing."

INTERNATIONAL ENERGY AGENCY

The head of the International Energy Agency, Fatih Birol, said a production cut of as much as 10 million bpd would still result in a 15 million-bpd buildup of crude in the second quarter.

BCS GLOBAL MARKETS

Kirill Tachennikov, director and senior oil analyst: "It is not technically possible to achieve these numbers in less than a month, and it is not enough to offset current oversupply that is exceeding 20 million bpd as it stands. As a result, the challenges of oil storage gradually filling up is still a very real issue." - Reuters

Posted by davidkkw79 > 2020-04-10 08:11 | Report Abuse

Still high risk this counter

Posted by riko > 2020-04-10 08:13 | Report Abuse

This sohai... Will say
Like this ah...

KNM probably will close at - 0.3

Posted by RedEagle > 2020-04-10 08:15 | Report Abuse

The UAE has received an invitation to participate as an honorary guest in the G20 Energy Ministers Meeting, which will be held remotely on Friday, April 10, the Ministry of Energy and Industry said.

Posted by roger3210 > 2020-04-10 08:57 | Report Abuse

Buy buy buy

Posted by Jack Y > 2020-04-10 12:13 | Report Abuse

when ppl said O&G counters will explode...
then down........faint....
waiting CEO to buy ....waiting..

Posted by Ben3333 > 2020-04-10 14:21 | Report Abuse

Knm share price will only spike when new CEO Sardin appear

Posted by riko > 2020-04-10 17:40 | Report Abuse

like this ah ....
KNM today probably will close at 0.155

Posted by riko > 2020-04-10 18:32 | Report Abuse

The sohai say the deal can make knm close 0.3...

Kongkam in hokkien

Posted by Investsucess Trader > 2020-04-10 19:00 | Report Abuse

Hahaha..... I don't understand in hokkien,

Posted by Flyinghorse > 2020-04-10 19:04 | Report Abuse

Will drops back to 0.110?? Will grab more.

Posted by Investsucess Trader > 2020-04-10 21:38 | Report Abuse

0.12 can lah, 0.11 a bit hard to get

Posted by BearishTrend > 2020-04-10 23:21 | Report Abuse

oil got storage problem..price drop..less demand..Mco every country

Posted by char1234 > 2020-04-10 23:44 | Report Abuse

oil in excess every where ....so thats why it's cheap

Posted by char1234 > 2020-04-10 23:45 | Report Abuse

oil companies cut production and layoff people ??

Posted by char1234 > 2020-04-10 23:45 | Report Abuse

no demand for oil as whole world is MCO

Posted by char1234 > 2020-04-10 23:46 | Report Abuse

all oil shares Shld drop ...oil price Shld drop more

Posted by char1234 > 2020-04-10 23:46 | Report Abuse

for us..buy when cheap

Posted by Goodprofit > 2020-04-11 00:04 | Report Abuse

when more car on the road

Posted by CUTLOST > 2020-04-11 02:42 | Report Abuse

Knm going back to 8-9cts next week..so pity 4 those chase 17 to 18cts

Posted by RedEagle > 2020-04-11 03:06 | Report Abuse

Thanks trumph

Posted by Godofgambler > 2020-04-11 11:28 | Report Abuse

https://www.google.com/amp/s/oilprice.com/Energy/Energy-General/Missiles-Fired-In-Iraq-As-Proxy-War-Heats-Up.amp.html

Posted by riko > 2020-04-11 12:27 | Report Abuse

most likely KNM range 0.15-0.18 for the next week...

also expect daily sohai say ... oil spike crazy ... like that ah , knm probably close at 0.3 today

but we all still waiting sardin ..... talk 3 talk 4.....

in this unprecedented period for the covid-19, all the big borrowing companies will be in certain risk.

right issue , private placement , bankruptcy ... nobody can predict what will happen after the covid.

Posted by Investsucess Trader > 2020-04-11 19:25 | Report Abuse

Most probably the price is bearish for next week. COVID-19 are getting worse world wide.

Posted by abccccd > 2020-04-11 21:01 | Report Abuse

Buy next week will up to 40C

Posted by apolloang > 2020-04-11 21:03 | Report Abuse

10cts or 40cts? u type silap kah? hehe

Posted by Godofgambler > 2020-04-13 02:44 | Report Abuse

The world’s top #oil producers pulled off a historic deal on April 12 to cut global crude output and put an end to a devastating price war: Bloomberg reports. OPEC+ will cut 9.7 million barrels a day -- just below the initial proposal of 10 million.

Posted by foo > 2020-04-13 15:15 | Report Abuse

Which companies on Bursa have high cash and low debt
KUALA LUMPUR: The second extension of the movement control order to contain the Covid-19 outbreak — now totalling six weeks until April 28 — means that economic activities will remain subdued for at least another 14 days.
The pandemic, which has infected nearly two million and killed over 100,000 worldwide, presents the worst start possible for the recession expected ahead. As the infection curve has yet to near its peak, it is anyone’s guess on the depth of the economic downturn.
Against this backdrop, survival is the prominent concern now. Investors’ attention is drawn to companies’ balance sheets instead of growth prospects, which is widely expected to be minimal in the best-case scenario, as business volume dwindles and operating cash flow shrink.
Asia Analytica data shows that of some 880 listed companies (after excluding the 40 banks, insurers and investment trusts), 597 companies listed on Bursa Malaysia have cash that is less than their short-term liabilities.
Companies in many different sectors are underlined here, from furniture companies to retailers, automotive-related firms, and a wide range of manufacturers and trading companies.
Meanwhile, 223 listed companies have an interest cover ratio of below one times, meaning their earnings before interests and tax cannot cover interest expenses for a full year. The market capitalisation of most of these companies are below RM2 billion.
Some 321 companies were already in the red last year. Of the 599 profitable ones, around 45.6% of them saw profit decline in the period. Again, most on the list are small-cap firms, according to Asia Analytica data.
It is also worth noting that the economic downturn would be a tough test on companies’ sales quality. Companies with a high portion of credit sale with mounting receivables could be at risk amid the potential cash trap.
A random check shows that 75 listed companies or 8.2% have net gearing of over 100%. Sectors with the most companies in this category are logistics, construction, oil and gas, building materials and property development.
Others with net gearing of above 80% include power companies, telecommunications companies and building materials companies. Power producers’ liabilities are usually backed up by the steady cash flow from power purchase agreements.
On the flip side, notable sectors with low net gearing average include Internet and gas utility companies, and technology solution providers.
Of 79 generic companies with market capitalisation of above RM2 billion (ex-banks, real-estate investment trusts and insurers) only 22 have a cash ratio of above one times and net gearing of below 50%, led by Petronas Chemicals Group Bhd, Petronas Gas Bhd and IOI Corp Bhd.
As reflected by the price-to-book valuations, preference is given for companies with high cash, low debt, steady recurring income and high-quality clients, such as tech companies, and broadband providers.
There are also lesser-known small-cap companies that are cash-rich with sturdy past operations.
As a fund manager pointed out that a downturn is a brewing pot for merger and acquisition activities, as smaller, cash-rich companies with good assets or business prospects usually become undervalued after the market selldown.
The first quarter’s (1Q20) financial result will show how much cash was exhausted amid the two-week shutdown in the second half of March, while prospects of the entire half of 2Q20 being under movement restriction are still visible.

Posted by CUTLOST > 2020-04-13 16:08 | Report Abuse

Back to 8cts by next week

Posted by Investsucess Trader > 2020-04-13 18:33 | Report Abuse

sure or not?

Posted by mf > 2020-04-13 18:37 |

Post removed.Why?

Posted by ocmz66 > 2020-04-13 18:38 | Report Abuse

tomolo up

Posted by riko > 2020-04-13 21:20 | Report Abuse

like that ah
KNM tomorrow probably will close at 0.3

Posted by Investsucess Trader > 2020-04-13 21:37 | Report Abuse

Hahaha, one fellow said 0.30, another said 0.06, the different is so much.......

Posted by stklearner > 2020-04-13 21:39 | Report Abuse

mayb one one to sell, the other one to buy, at best price lo...

Posted by roger3210 > 2020-04-13 23:49 | Report Abuse

Buy buy buy

Posted by Investsucess Trader > 2020-04-14 06:06 | Report Abuse

Dow jones drops 326 pts,

Posted by sharon8888 > 2020-04-14 08:50 | Report Abuse

328.60 * but Nasdaq is up

Posted by sharon8888 > 2020-04-14 08:52 | Report Abuse

European and Asian markets are up, lets hope KNM can close green today!!

Posted by Ean Wee Soon > 2020-04-14 09:36 | Report Abuse

KNM support on 0.150 was very strong, So in this week KNM will not going down below 0.150. Maybe will maintaining around 0.155 to 0.165, the barrier on 0.165 and 0.170 was quite hard to break, if there is no any news or anything that could bring investor to buy in huge quantity, resistance on 0.170 will not break

Posted by 11395861 > 2020-04-14 11:30 | Report Abuse

Everyone cool....green zone will comeback

Posted by riko > 2020-04-14 12:38 | Report Abuse

like that ah
KNM today probably will close at 0.3..........................


waiting .............................SARDIN.

Posted by jek2288 > 2020-04-14 14:26 | Report Abuse

20cents on the horizon v.v.soon. no money dont talk or hope knm drop below 15.

Posted by CUTLOST > 2020-04-14 19:46 | Report Abuse

Slow2 drop.. Idss going to selling down

Posted by 010855 > 2020-04-14 20:08 | Report Abuse

Up tomorrow again...