Posted by mf > 2020-03-11 20:43 | Report Abuse

Saudi Arabia unveils plans to maximize oil output, escalating a price war with Russia

Posted by i3lurker > 2020-03-11 20:51 | Report Abuse

actually the US imports much much more than it exports.
low oil price
global recession
wars. (Missiles prices range from few hundred thousand to million plus USD)
all these will actually benefit the DJIA
the DJIA will not drop permanently, just fear fluctuations.

the previous MBS, Mortgage Backed Securities induced drop by Lehman Brothers was actually caused by mainland Chinese and Taiwanese and Malaysian Chinese etc etc. They will fly to US, take a loan to buy a house, and then flip it at higher price. Those loans were combined together to form collaterised securities and sold to savings and loans associations. When things go bad, such overseas Chinese could not be traced. I know a lot about this coz someone asked me to fly to US to do this mortgage flipping. I just refused coz it is obviously immoral.

Posted by SuperPanda > 2020-03-11 21:30 | Report Abuse

mortgage flip i did 25 yrs back, no need go to us, maybe you still in kindergarden school

Posted by i3lurker > 2020-03-11 21:36 | Report Abuse

you did mortgage flip in Malaysia can borrow 120%?
get 20% free cash in USD after paying property developer?

Posted by SuperPanda > 2020-03-11 21:56 | Report Abuse

anything can be done in mortgage flip without a penny

Posted by KAQ4468 > 2020-03-11 21:56 | Report Abuse

Indeed !!!

I like





Posted by SuperPanda > Mar 11, 2020 8:27 PM | Report Abuse

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

Posted by SuperPanda > 2020-03-11 21:57 | Report Abuse

but now you cant

Posted by Warriors88 > 2020-03-11 22:05 | Report Abuse

Nightmare for everyone

Posted by Warriors88 > 2020-03-11 22:05 | Report Abuse

The nightmare started

Posted by RISK8888 > 2020-03-11 22:07 | Report Abuse

Tomorrow good chance to buy low. Lets queue 0.12

Posted by SuperPanda > 2020-03-11 22:36 | Report Abuse

if oil below 40 prolong for 3 mths, prod will stop and contract services will be terminated

no one will pump oil when prod cost is higher than selling price

Posted by SuperPanda > 2020-03-11 22:38 | Report Abuse

oil is 36usd ! not 50 anymore, cant you see big fund is selling, lowest will be another lowest until you cant recognize your own mother

Posted by SuperPanda > 2020-03-11 22:41 | Report Abuse

if you want to buy, go buy the beneficial of cheap oil not the opposite

Posted by azman376144 > 2020-03-11 22:51 | Report Abuse

Go for good consumer and tech stocks.. such ad xdl and ifca..

Posted by InvestorKING > 2020-03-11 23:21 | Report Abuse

https://oilprice.com/Latest-Energy-News/World-News/Russian-Oil-Firms-To-Discuss-The-Fate-Of-OPEC-Alliance.html

Posted by InvestorKING > 2020-03-11 23:22 | Report Abuse

Breaking news

Posted by InvestorKING > 2020-03-11 23:24 | Report Abuse

But djia one day up 1000.points, one day down 1000.points?????

Posted by Ziko Ro > 2020-03-11 23:29 | Report Abuse

Aiyaaa !! Dow fall 1,124 points .

Posted by TAK1 > 2020-03-12 00:14 | Report Abuse

There should be no cuts Armada need to cut cost again to survive. All US should cut to with opec+ then its fair brace for it.

Posted by TAK1 > 2020-03-12 00:16 | Report Abuse

Is idss allowed in the oil share market as they were banned on monday by klse.

Posted by Warriors88 > 2020-03-12 00:45 | Report Abuse

https://seekingalpha.com/article/4330721-why-russia-killed-opec-deal

Posted by Mabel > 2020-03-12 01:04 | Report Abuse

The plunge in crude oil prices is likely to cause the government to lose billions of ringgit in oil revenue that could see the fiscal deficit balloon under current spending plans.

At the price of US$48 per barrel for oil, Malaysia stands to have RM4.5bil shaved off from its oil revenue. And should the prices plummet to the range of US$20 to US$25 per barrel, the additional losses would be to the tune of between RM11.1bil and RM12.6bil.

Brent crude oil was at the range of US$36 per barrel as at press time.

Posted by Warriors88 > 2020-03-12 01:09 | Report Abuse

https://www.facebook.com/11726505964/posts/10156930788830965/

Posted by Warriors88 > 2020-03-12 01:09 | Report Abuse

Game over klse index

Posted by Zuliana > 2020-03-12 01:18 | Report Abuse

Mabel meow cat, u baru sedar kini kah tentang government Msia rugi kah?
Kalau oil price tak naik, government akan naikkan cukai nanti lah.

I harap oil price akan naik tak lama lagi supaya tak ada new taxes dalam apa bentuk sekalipun dikenakan di Msia.



Posted by Mabel > Mar 12, 2020 1:04 AM | Report Abuse

The plunge in crude oil prices is likely to cause the government to lose billions of ringgit in oil revenue that could see the fiscal deficit balloon under current spending plans.

At the price of US$48 per barrel for oil, Malaysia stands to have RM4.5bil shaved off from its oil revenue. And should the prices plummet to the range of US$20 to US$25 per barrel, the additional losses would be to the tune of between RM11.1bil and RM12.6bil.

Brent crude oil was at the range of US$36 per barrel as at press time.

Posted by TAK1 > 2020-03-12 02:50 | Report Abuse

US AND CANADA cannot sell crude oil which it can only pump at cost of isd 40 when market at 35 will cost the output there to decrease and will stabilize the glut. It not only them but a few more they will only be able to start pumping when oil hits 40 and shale will come back at 50. 1 month need to hold covid vaccine is there global medical fund at 40B for research and production.

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

Dow drops deeper into bear market territory, now down 1,500 points in final hour of trading

Posted by bensonlam33222 > 2020-03-12 06:03 | Report Abuse

Posted by tkl88 > Mar 11, 2020 4:55 PM | Report Abuse

Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d)

Saudi's MAXIMUM OIL PRODUCTION IS 10 MILLION BARRELS PER DAY.SAUDI IS SELLING ITS OIL RESERVE.HOW LONG CAN IT DO THAT ?

Posted by InvestorKING > 2020-03-12 06:54 | Report Abuse

But oil price not drop much, now oil price up 1%++

Posted by bullrun1985 > 2020-03-12 08:53 | Report Abuse

Banggang RJ87, this year one round let you die gaw gaw. let go and restart new life. if not, you will feel very suffer this 2 years

Posted by Warriors88 > 2020-03-12 09:08 | Report Abuse

https://www.cnbc.com/2020/03/11/oil-lobbyists-met-with-white-house-staffers-amid-opec-price-war-coronavirus.html

Posted by Warriors88 > 2020-03-12 09:09 | Report Abuse

Oil price and dow Jones index drop like shit last night

Posted by Warriors88 > 2020-03-12 09:11 | Report Abuse

https://oilprice.com/Energy/Energy-General/Is-This-The-Worst-Oil-Deal-Of-The-Decade.html

Posted by bullrun1985 > 2020-03-12 09:12 | Report Abuse

bought at 0.17.

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

brace yourself for the worst, italy now on crisis and hospital not able to handle the pandemic

it cant built hospital like china did, icu no more space, more patients will die

Posted by SuperPanda > 2020-03-12 09:14 | Report Abuse

juventus player found +ve, all football match now suspended

trump has been talking with wall streets, banks and economist, you know when these people are sitting together, is a serious business

Posted by SuperPanda > 2020-03-12 09:16 | Report Abuse

i predict armada can drop to .145 again

Posted by KAQ4468 > 2020-03-12 09:17 | Report Abuse

Ronaldo ka ??

hahahahah





Posted by SuperPanda > Mar 12, 2020 9:14 AM | Report Abuse

juventus player found +ve, all football match now suspended

Posted by bullrun1985 > 2020-03-12 09:24 | Report Abuse

cut lost, sold back to 0.17

Posted by SuperPanda > 2020-03-12 09:25 | Report Abuse

6:20 pm: Juventus player tests positive for COVID-19

Italian soccer giants Juventus said defenseman Daniele Rugani tested positive for coronavirus COVID-19 and is asymptomatic, the club confirmed in a statement Wednesday.

The club said it is "activating all the isolation procedures required by law, including the census of those who have had contact with him."

On Monday, Italian Prime Minister Giuseppe Conte announced the stoppage of sporting events across Italy, including play in Serie A, the league in which Juventus competes. The Italian Olympic Committee called for all sporting events to be canceled until April 3. –Eudaily

Posted by Warriors88 > 2020-03-12 09:28 | Report Abuse

Saudi Arabia doubles down on threat to flood the oil market
By Mark Thompson, CNN Business
Updated 4:33 PM EDT, Wed March 11, 2020


London(CNN Business)Oil prices are falling again Wednesday after Saudi Arabia doubled-down on its threat to flood the world with millions more barrels of crude despite the coronavirus shock to global energy demand.

Just a day after confirming that it would jack up production by about 2.5 million barrels per day starting April 1 in a battle for market share with Russia and US producers, state oil company Saudi Aramco said it would increase its "maximum sustainable" capacity by 1 million barrels to 13 million per day. In other words, the Saudis are digging in for a war of attrition.

Why Russia and Vladimir Putin are waging an oil war with America
Why Russia and Vladimir Putin are waging an oil war with America
"As this does not affect production in the short term, we believe this does not impact short term prices much, but could influence sentiment negatively, which explains the modest price decline today," said Bjoernar Tonhaugen, head of oil markets at Rystad Energy.


Saudi Arabia had signaled its intention to go all-out for market share over the weekend after the acrimonious collapse of an alliance with Russia that had restrained oil supply in recent years, keeping a floor under prices.

Brent crude futures, the global oil benchmark, and US oil fell 4% to $32.98 on Wednesday. Brent prices have fallen by about 28% since Thursday, and 48% since a peak in early January.

OPEC, led by Saudi Arabia, had proposed additional production cuts through the end of 2020 but Russia refused to agree and warned it would produce as it pleases from next month in a bid to recover market share lost to US shale companies in recent years.

The falling out has opened the door to a free-for-all fight for customers just as the oil industry faces its biggest challenge since the global financial crisis. The coronavirus epidemic is destroying demand for fuel as air travel slumps and as efforts to contain the spread of the disease force businesses to close, at least temporarily.

Saudi Arabia told its preferred customers over the weekend that it would cut its official selling prices by $6 to $8 a barrel. Other members of OPEC are now piling in. ADNOC, the UAE's state oil producer, said Wednesday it was ready to supply 4 million barrels per day in April, up from about 3 million at present.

"In addition, we will accelerate our planned five million barrels per day capacity target," it said in a statement. It had been aiming to hit that target by 2030.

Russia shows no sign of blinking in the standoff with its erstwhile OPEC allies, as it sees an opportunity to undercut American energy dominance. The United States has supplanted Russia as the world's biggest oil producer thanks to the recent shale boom.

"Saudi Arabia announced that it had reduced the prices ... announced the increase in oil production. We believe that in these conditions this is probably not the best option," Russian energy minister Alexander Novak told state media on Wednesday. "It would be right to keep the production at the levels achieved in the first quarter."

Two economic scenarios for the impact of coronavirus on the US
Two economic scenarios for the impact of coronavirus on the US
Now, the energy meltdown threatens to cause a repeat of the 2014-2016 crash that bankrupted dozens of oil and gas companies and caused hundreds of thousands of layoffs.

It could also seriously damage countries such as Iraq, Angola, Nigeria and Algeria at a time of mounting concern about the health of the global economy because of coronavirus.

Fatih Birol, head of the International Energy Agency, told CNN Business on Tuesday that producers should stop playing "Russian roulette" with the oil market because it could have "grave consequences."

"The only thing I would hope, that in the oil markets, common sense will prevail and all the actors behave responsibly as the world is facing major challenges today," he told CNN Business' Richard Quest. "Weak economy and the coronavirus is a problem for all of us. If they don't do it, the citizens of this world will not forget it."

Posted by bullrun1985 > 2020-03-12 09:28 | Report Abuse

Banggang RJ87, hold few mil shares with margin. pls sell it and restart a new life. let go your ego, you still can work for another 40 years

Posted by Warriors88 > 2020-03-12 09:29 | Report Abuse

WTI Crude 32.22 -0.76 -2.30%
Brent Crude 34.99 -0.80 -2.24%

Posted by Warriors88 > 2020-03-12 09:30 | Report Abuse

Oil price drop again after last night dropping

Posted by Warriors88 > 2020-03-12 09:34 | Report Abuse

Oil price already dropped 6% since last night

Posted by Warriors88 > 2020-03-12 09:34 | Report Abuse

https://oilprice.com/Energy/Energy-General/Oil-Tanks-As-Russia-Rejects-Deeper-OPEC-Cuts.html

Posted by Warriors88 > 2020-03-12 09:36 | Report Abuse

WTI Crude 32.14 -0.84 -2.55%
Brent Crude 35.02 -0.77 -2.15%

Posted by InvestorKING > 2020-03-12 09:38 | Report Abuse

Hockben disappear already??

Posted by InvestorKING > 2020-03-12 09:40 | Report Abuse

Now everyone here is suffering

Posted by SuperPanda > 2020-03-12 09:53 | Report Abuse

not here only, whole world