Posted by Warriors88 > 2020-03-11 10:06 | Report Abuse

WTI Crude 35.75 +1.39 +4.05%
Brent Crude 38.90 +1.68 +4.51%

Posted by Warriors88 > 2020-03-11 10:06 | Report Abuse

Oil price continue to rice

Posted by LeslieGoh > 2020-03-11 10:11 | Report Abuse

All in buy Armada...

Posted by paktua73 > 2020-03-11 10:28 | Report Abuse

bullrun paktua as president of kebangangan utama..
maka..demi martabat terutama kesatuan kebangangan utama..
maka..
paktua telah istihar..
MEMECAT T.Mahathir,dan TS Muhyiddin..
mereka xlayak disokong oleh kesatuan kebangangan utama..
kerana cubaan mereka utk merampas tittle kebangangan peringkat tertinggi darjah utama..


tut tut
apa punya bangang depa berdua tu..

Posted by Warriors88 > 2020-03-11 10:28 | Report Abuse

https://www.thestar.com.my/business/business-news/2020/03/11/oil-price-jumps-8-on-stimulus-hopes-spending-cuts-by-us-producers

Posted by tkl88 > 2020-03-11 10:29 |

Post removed.Why?

Posted by Warriors88 > 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

Posted by DickyMe > 2020-03-11 10:31 | Report Abuse

Yahooo, SHALE OIL is BACK!!!

Posted by bullrun1985 > 2020-03-11 10:38 | Report Abuse

@Paktua, no wonder the armada up becoz you already pecat both of them

Posted by pang72 > 2020-03-11 12:07 | Report Abuse

Wow... Congrate everyone!!

Posted by KAQ4468 > 2020-03-11 12:09 | Report Abuse

peewwiittttt

Posted by Mabel > 2020-03-11 12:37 | Report Abuse

@DickyMe Yahooo, SHALE OIL is BACK!!!
11/03/2020 10:31 AM

https://www.youtube.com/watch?v=GzGtEPdmR3g

Pirates of the Caribbean music really makes you imagine the life a pirate

Most US Shale Oil companies (Fossil Fuel main competitors) especially those laden with debt, are not economically viable when the price of Brent crude falls much below the $50 mark. When the price last plunged in 2014, Wall Street bailed many of them out - something it will not be likely to do this time around.

We can already there are warning signs. This oil shock will force Shale gas operator’s shutdown... no more bailout from wall street. Oil output from Shale oil expected going down with bank not willing to loan more money to them. End of Shale Gas Boom.... Bright future for Fossil Fuel Players

Meow..

Posted by InvestorKING > 2020-03-11 12:42 | Report Abuse

Armada history repeats again: Same like last year March, price back to 0.15 then gradually up to 0.20-0.21, armada operator will collect and collect all sohai shorties shares at this price range, then 2020 1st quarter report (this round might include kraken impairment write back, so it will be better than last year 1cent earning)

So Armada operator will spend this two months to collect cheap again

Posted by DickyMe > 2020-03-11 12:43 |

Post removed.Why?

Posted by TAK1 > 2020-03-11 12:47 | Report Abuse

Shale oil to drop by 4.5mbpd in april russia and saudi to deliver mbpd

Posted by Warriors88 > 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。

Posted by Warriors88 > 2020-03-11 13:20 | Report Abuse

https://www.cnbc.com/2020/03/11/oil-markets-us-producers-in-focus.html

Posted by Warriors88 > 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.

Posted by InvestorKING > 2020-03-11 13:22 | Report Abuse

If Russia should agree on production cut last Friday, now only show open to talk

Posted by InvestorKING > 2020-03-11 13:46 | Report Abuse

Armada history repeats again: Same like last year March, price back to 0.15 then gradually up to 0.20, so it's same like last year, trading around 0.15 to 0.20 again, armada operator will collect and collect all sohhai shorties shares at this price range, then 2020 1st quarter report (this round might include kraken impairment write back, so it will be better than last year 1cent earning)

So Armada operator will spend this two months to collect cheap cheap again, because Armada actually worth 0.55 (NTA)

Posted by bullrun1985 > 2020-03-11 14:05 | Report Abuse

IK, you plan to buy how many mils shares now????

Posted by Warriors88 > 2020-03-11 14:06 | Report Abuse

https://www.ft.com/content/5db09f76-634b-11ea-a6cd-df28cc3c6a68

Posted by InvestorKING > 2020-03-11 14:18 | Report Abuse

Monday trading, whenever price trying to up to 0.205 or 0.21, someone will sell and sell at 0.205 & 0.21, that's should be EPF

Posted by Mabel > 2020-03-11 15:13 | Report Abuse

Thanks to the Russian, this round my collections starts below 15 sen..thanks to the panic dumping on Monday. The last collection was yesterday..

Now all I have to do is wait... exactly what I did in the previous cycle..

Meow..

Posted by pang72 > 2020-03-11 15:20 | Report Abuse

Park your money at 15c..
It will happen in 1 or 2 days time!!

Posted by pang72 > 2020-03-11 15:21 | Report Abuse

If 12.5c can be matched then you are lucky!!

Posted by pang72 > 2020-03-11 15:22 | Report Abuse

One more crash to9

Posted by bullrun1985 > 2020-03-11 15:22 | Report Abuse

sell

Posted by bullrun1985 > 2020-03-11 15:24 | Report Abuse

Banggang RJ87, have you averaged down your Armada???

Posted by bullrun1985 > 2020-03-11 15:24 | Report Abuse

tomorrow opening price 0.17

Posted by bullrun1985 > 2020-03-11 15:30 | Report Abuse

run before it is too late

Posted by i3lurker > 2020-03-11 15:37 | Report Abuse

today is technical rebound

tomorrow is technical down coz it's dragon's birthday, he celebrates it by selling down the shares

Posted by bullrun1985 > 2020-03-11 15:45 | Report Abuse

@i3lurker, later banggang RJ87 come out and fuck u as shorties and zero share holder

Posted by i3lurker > 2020-03-11 15:52 | Report Abuse

bull
you dun qualify coz you dun even have securities account.
if you have a securities account you will know people dun buy/sell 10 lots

Posted by InvestorKING > 2020-03-11 16:16 | Report Abuse

This is called rebound??? Down from 0.47 to 0.16, now only 0.18, this is called rebound?

Posted by bullrun1985 > 2020-03-11 16:23 | Report Abuse

IK, its rebound from 12.5c to 19.5c today. RSI quite high now

Posted by tkl88 > 2020-03-11 16:52 | Report Abuse

U.S. Shale Collapse Will Lead To Higher Oil Prices
By Nick Cunningham - Mar 10, 2020, 8:00 PM CDT
https://oilprice.com/Energy/Oil-Prices/US-Shale-Collapse-Will-Lead-To-Higher-Oil-Prices.html

U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war.

Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d) in April, a shocking escalation of the war for market share. That level of output is believed to be beyond what Aramco can produce on a sustainable basis. In other words, Saudi Arabia is going all-out to flood the market.

Also, Saudi energy minister Prince Abdulaziz bin Salman didn’t sound interested in meeting with Russia anytime soon. “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 told Reuters.

According to Energy Intelligence, Saudi Arabia is conducting budgeting exercises to game out scenarios in which oil crashes to between $12 to $20 per barrel, and will even look at an extreme scenario in which oil falls below $10.

Russia says it can withstand the price war at $25 to $30 per barrel for 6 to 10 years. Neither side appears willing to budge.

“Monday will go down as one of the bleakest market days in the history of the energy sector,” Raymond James wrote in a note. “Was this capitulation day? It certainly feels like it... it is hard to imagine how much worse sentiment can get.”
Related: Russia Fires Back: Could Boost Oil Production By 500,000 Bpd

As a result, the immediate victim will be U.S. shale. “[O]il should bottom out when producers begin physically shutting in wells, which is indeed what set the floor four years ago,” the investment bank added.

The reaction was swift. With share prices in freefall, the number of shale companies announcing budget cuts multiplied at the start of the week. Diamondback Energy and Parsley Energy immediately announced plans to cut spending and reduce drilling activity.

Canadian oil company Cenovus Energy slashed 2020 capex by 32 percent and its production guidance by 5 percent. Ovintiv said it would cut spending and tried to reassure skittish investors that it had enough liquidity. Marathon Oil cut spending by $500 million.

Even Chevron admitted that it might need to cut spending, just days after it unveiled lofty goals on free cash flow over the next five years. “We are reviewing alternatives to reduce capital expenditures, that are expected to lower short-term production and preserve long-term value,” Chevron said in a statement to Reuters late on Monday. Chevron was the first oil major to suggest that it might cut spending, and the oil giant said that it needs $55 per barrel in order to cover its spending and shareholder payouts.

At these prices almost no shale well drilled today can make money. Rystad Energy says just a handful of companies have breakevens lower than today’s oil price. Friezo Loughrey of data firm Oil Well Partners LLC told Bloomberg that Permian breakevens are closer to $68 per barrel if investors want an adequate return within 24 months. Today, prices are trading at half of that.
Related: Saudi Arabia's Archenemy Is Taking Advantage Of The Oil War

“Many US fracking companies already had their backs to the wall before the price slump due to high debts and financing difficulties,” Commerzbank wrote in a note. “Drilling activity declined continuously until mid-January, and has since stagnated at a low level.”

The one-two combo of the coronavirus pandemic and the Saudi-Russia price war could deliver a knockout blow to U.S. shale.

But perspectives on the impact on production vary. JBC Energy said that they “prefer a more cautious call on US supply declines,” adding that it may take a few months before production begins to fall.

But others see an immediate retreat. “A decline in US shale oil production of 1-2m bl/day from current total US oil production of 13.1m bl/day is natural to expect,” Bjarne Schieldrop, chief commodities analyst at SEB, said in a statement. “We now think that a last-minute deal between Russia and OPEC before the expiry of the current cuts at the end of March 2020 is very unlikely. Russia has probably firmly decided that now is the time to pull away the rug from under the feet of the shale oil producers, so now is the time for the second shale oil reset.”

By Nick Cunningham of Oilprice.com

Posted by bensonlam33222 > 2020-03-11 18:08 | Report Abuse

Saudi and Russia will reach a win win solution on 18 march . Saudi Arabia needs oil at $80-$85 a barrel to balance budget.oil price war is not sustainable especially for Saudi .oil price will go above US$50 soon.

https://www.reuters.com/article/us-saudi-economy-imf/saudi-arabia-would-need-oil-at-80-85-a-barrel-to-balance-budget-imf-official-idUSKCN1Q01N0

Posted by mf > 2020-03-11 18:31 | Report Abuse

Oil falls as Saudi Aramco aims to increase output capacity
Reuters | Mar 11, 2020 06:14AM ET

Posted by SuperPanda > 2020-03-11 18:49 | Report Abuse

the low oil price now will show its real effect in next 2 mths time and fwd..

current is a technical rebound for bargain hunter buying, overall market still very weak

billions of money gone from market and it will not come back so early, this is just the beginning of something big to happen - recession

Posted by InvestorKING > 2020-03-11 19:20 | Report Abuse

Personally feel that Velesto is going up very fast, heading back to 0.30

Posted by Mabel > 2020-03-11 19:46 | Report Abuse

Meow..

Posted by Ziko Ro > 2020-03-11 19:47 | Report Abuse

Opening bell dow crash fall 780 ponts. Hopefully can cover to night.

Posted by Ziko Ro > 2020-03-11 19:50 | Report Abuse

Brent also fall more than 5% at the opening.

Posted by Warriors88 > 2020-03-11 20:09 | Report Abuse

https://www.cnbc.com/2020/03/11/oil-prices-saudi-aramco-moves-to-ramp-up-production-amid-russia-feud.html

Posted by Warriors88 > 2020-03-11 20:10 | Report Abuse

Gone!

Posted by InvestorKING > 2020-03-11 20:19 | Report Abuse

Ziko, where got drop 5%? Both djia and oil only drop 2%, that's healthy, because yesterday djia up too much

Posted by InvestorKING > 2020-03-11 20:20 | Report Abuse

But anyway, when djia and oil price big up, Armada also not following big up, only up abit

Posted by SuperPanda > 2020-03-11 20:27 | Report Abuse

dow 25k pts still high, it will drop below 20k in a month

Posted by InvestorKING > 2020-03-11 20:41 | Report Abuse

Don't think before USA election, will drop that much, because trump wants to make sure he is successful elected again