Posted by TAK1 > 2020-04-04 11:23 | Report Abuse

It already manipulated the Thur and especially friday never see counter going down when news is good. Bad news the drop was 10 cents good news 3cent if mco extended lots of robbery planned by good people and cops becareful.

Posted by Investsucess Trader > 2020-04-04 11:27 | Report Abuse

Better becareful...... When KLSE was 1700 pts and oil was US50-70, Armada was 0.15-0.21. Now KLSE was 1300 pts and oil was US20-27 Armada was 0.10-0.165....Morever now we have the Covid-19 and world lock down.. Pls invest carefully...

Posted by bullrun1985 > 2020-04-04 11:30 | Report Abuse

becareful of sell down, opec meeting could crush the oil price below USD10

Posted by TAK1 > 2020-04-04 11:38 | Report Abuse

It only raise by 3 sen bull for china buy. Never rise yet for cuts.

Posted by armadatuah2017 > 2020-04-04 12:29 | Report Abuse

just to remind why Russia didnt agree on last OPEC to cut production. they wanted US to cut production as well not just OPEC reducing their oil market share to US. Trump onlu l

Posted by armadatuah2017 > 2020-04-04 12:30 | Report Abuse

what Trump said is not the mutual agreement between Saudi and Russia. US Is very hypocrite country. just invest your money wisely and believe me its not the time yet to all in. im

Posted by armadatuah2017 > 2020-04-04 12:31 | Report Abuse

got to trust our boss AK, he hasn't done accumulating for second push

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

Remember, each US$1 per barrel increase in oil prices brings our Treasury RM300 million in revenue per year. As Apan earlier during USA Presidential Election year Brent Crude Oil price will bullish or add on around USD 20-25 ..so take USD 25 lowest..God Speed we will see Brent Crude Oil will be back to USD 45-USD 50 pretty soon..

Meow..

Posted by apanama > 2020-04-04 15:19 | Report Abuse

i wont be surprise if Armada this time is heading towards RM 0.33 sen..eventhough COVID 19 issue. :)

Posted by Investsucess Trader > 2020-04-04 17:25 | Report Abuse

The recent upswing was mere speculations and not fundamentals. In the next few days or weeks it will drops back. Pls invest wisely with your saving....

Posted by stkstudent > 2020-04-04 17:31 | Report Abuse

If not invest, trade can ar ?

Posted by stkstudent > 2020-04-04 17:33 | Report Abuse

All shops closed now, mayb for few mths, ehc business got fundamentals to ‘ invest in’ now ? Thks

Posted by mala173318 > 2020-04-04 18:09 | Report Abuse

Oil’s Stunning Demand Collapse Threatens Closures Everywhere

Posted by Keyman188 > 2020-04-04 22:14 | Report Abuse

OPEC+ Meeting Delayed on New Saudi, Russia RiftBy 

(April 4, 2020, 8:57 AM GMT+8Updated on April 4, 2020, 8:41 PM GMT+8)


~ Meeting now tentatively scheduled for April 9, say delegates

~ Diplomatic row puts new agreement to curb production at risk


OPEC+ delayed a meeting aimed at ending the oil price war, as Riyadh and Moscow trade barbs about who’s to blame for the collapse in oil prices.

The alliance is tentatively aiming to hold the virtual gathering on April 9 instead of Monday as it previously intended, a delegate familiar with the matter said. Producers need more time for negotiations, said another. Beyond the alliance, Saudi Arabia and Russia have indicated they want other oil countries to join in any output cuts, complicating efforts to call a meeting, the delegate said, asking not to be named discussing diplomatic matters.

The delay came hours after Saudi Arabia made a pointed diplomatic attack on Russian President Vladimir Putin, opening a fresh rift between the world’s two largest oil exporters and jeopardizing a deal to cut production.

In a statement early on Saturday, the Saudi Foreign Minister Prince Faisal bin Farhan said comments by Putin laying blame on Riyadh for the end of the OPEC+ pact between the two countries in March were “fully devoid of truth.”

The direct criticism of Putin, echoed in a statement by Energy Minister Prince Abdulaziz bin Salman, threatens a new agreement to stabilize an oil market that’s been thrown into chaos by the global fight against coronavirus. President Donald Trump had devoted hours of telephone diplomacy last week to brokering a truce in the month-long price war between Moscow and Riyadh.

“We always remained skeptical about this wider deal as U.S. producers cannot be mandated to cut,” said Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd. “If so, Russia doesn’t come to the table. And if everyone doesn’t cut, Saudi Arabia’s long held stance is that they will not cut either.”

The prospect of a new deal spurred a 50% recovery in benchmark oil prices last week as traders saw some relief from the catastrophic oversupply caused by a lockdown of the world’s largest economies, in a bit to halt the coronavirus pandemic. With billions of people forced to stay at home, demand for gasoline, diesel and jet has collapsed by about as much 35 million barrels a day.

“Russia was the one that refused the agreement” in early March, the Saudi foreign ministry said. “The kingdom and 22 other countries were trying to to persuade Russia to make further cuts and extend the agreement.”

Sponsored by Trump, who’s fretting about the future of America’s shale industry, momentum for a new agreement had built in recent days.

A delay is “not a good sign,” said Ayham Kamel, head of Middle East and North Africa at the Eurasia Group consultancy. “This entirely plays negatively for the discussions.”

“Part of Putin’s comments are about saving face and also justifying why the oil price crashed and partly to deter criticism from the U.S. Putin doesn’t want to be blamed for any losses in the U.S. energy industry. It seems to me that there’s both a defensive effort to shield from criticism abroad for both the Saudis and the Russians,” Kamel said.


##https://www.bloomberg.com/news/articles/2020-04-04/saudi-arabia-says-putin-s-comments-on-opec-deal-is-incorrect?srnd=premium-asia

Posted by tkl88 > 2020-04-05 00:13 | Report Abuse

The alliance (OPEC+) is tentatively aiming to hold the virtual gathering on April 9 instead of Monday as it previously intended, a delegate familiar with the matter said.

Posted by tkl88 > 2020-04-05 00:14 | Report Abuse

Meeting suppose on April 6 (Monday), delayed to April 9 (Thursday).
So, got 3 more days for us to Sailang on O & G stocks before it’s share price spike up to sky high !
Huat ah ! Heng ah ! Ong ah !

Posted by Keyman188 > 2020-04-05 00:28 | Report Abuse

Oil set to ‘crater’ Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia

PUBLISHED SAT, APR 4 202012:00 PM EDT

~ The virtual meeting between OPEC and its allies scheduled for Monday has been postponed, sources familiar with the matter told CNBC, as tensions between Saudi Arabia and Russia mount.

~ The meeting will now “likely” be held on Thursday, sources said.

~ The Monday meeting was set after President Donald Trump said to CNBC on Thursday that he expected Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman to announce a deal on production cuts.


The virtual meeting between OPEC and its allies scheduled for Monday has been postponed, sources familiar with the matter told CNBC, amid mounting tensions between Saudi Arabia and Russia. The meeting will now “likely” be held on Thursday, sources said.

The Monday meeting was set after President Donald Trump said to CNBC on Thursdaythat he expected Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman to announce a deal to cut production by up to 15 million barrels, and that he had spoken to both countries’ leaders.

The delay is likely to hit oil prices next week following a record-setting comeback week for crude. U.S. oil surged 25% on Thursday for its best day on record, and gained another 12% on Friday. It finished the week with a 32% surge, breaking a 5-week losing streak and posting its best weekly performance ever, back to the contract’s inception in 1983.

“It’s probably going to crater,” Again Capital’s John Kilduff said. “There was a lot of optimism priced into oil Thursday and Friday. With this new Saudi, Russia spat, it doesn’t look like it’s going to come together.”

Despite last week’s surge, West Texas Intermediate crude is still down nearly 40% in the last month on the heels of demand destruction from the coronavirus outbreak, and the price war between Saudi Arabia and Russia.

Friday’s jump was fueled by a Reuters report that OPEC+ was contemplating a production cut equivalent to about 10% of world supply, and that Putin said a cut of 10 million barrels a day appeared possible.

Both Saudi Arabia and Russia have sought U.S. cooperation in balancing the world oil supply. American drillers are still pumping near record levels as the world is coming to the edge of its ability to store oil.

U.S. oil executives met with the president Friday at the White House, and there was speculation he would ask them to cooperate in cuts. No agreement came of the meeting, but Trump did seem to reflect an industry view that market forces should determine prices. 

“These are great companies and they’ll figure it out,” he said at a White House briefing following his meeting with the energy CEOs. “It’s a free market, they’ll figure it out.”

At its March meeting, OPEC proposed cutting production by 1.5 million barrels per day in an effort to combat the demand slowdown, but OPEC-ally Russia rejected the additional cuts. The meeting ended with no agreement, and in retaliation Saudi Arabia slashed its oil prices in an effort to gain market share, and subsequently increased its production to a record high of more than 12 million barrels per day.

Tensions between Saudi Arabia and Russia have escalated since. In comments Friday, Putin blamed the collapse in oil prices on Saudi Arabia pulling out of the more than 3-year-old OPEC plus deal, along with its increase in production and agreements for discounts, all of which exacerbated the blow from the coronavirus.

Saudi Arabia lashed back. In a statement Saturday, Saudi Foreign Minister Prince Faisal bin Farhan reportedly said Putin’s comments were “devoid of truth.”

Saudi Arabia energy minister Prince Abdulaziz bin Salman also issued a statement Saturday saying comments from Russia’s energy minister Alexander Novak “were categorically false and contrary to fact.” The statement said the Saudi minister “expressed his surprise at the attempts to bring Saudi Arabia into hostilities against the shale oil industry.” The minister noted that Saudi Arabia was a major investor in the U.S. oil sector.

“Now we have two issues,” said Helima Croft, head of global commodities research at RBC. “After President Trump’s statement it seems rather unlikely any production commitment is forthcoming. And it looks like we might have a new diplomatic rift between Russia and the Saudis…The Saudi minister is pushing back furiously on the Russian minister’s assertion that the Saudis are targeting shale.”


##https://www.cnbc.com/2020/04/04/oil-set-to-crater-monday-as-opec-meeting-delayed-tensions-flare-between-saudi-arabia-and-russia.html

Posted by tkl88 > 2020-04-05 06:39 | Report Abuse

普京证实俄愿减产 April 5, 2020
https://www.google.com/amp/s/www.enanyang.my/news/20200405/%25E3%2580%2590%25E5%2585%25A8%25E7%2590%2583%25E5%25A4%25A7%25E6%258A%2597%25E7%2596%25AB%25E3%2580%2591%25E6%2599%25AE%25E4%25BA%25AC%25E8%25AF%2581%25E5%25AE%259E%25E4%25BF%2584%25E6%2584%25BF%25E5%2587%258F%25E4%25BA%25A7/amp/

（莫斯科4日讯）俄罗斯总统普京表示，俄罗斯准备好与沙地阿拉伯和其他主要产油国一道大幅削减石油产量，以阻止油价下跌。这一表态呼应了美国总统特朗普之前的说法。

“我们做好准备在OPEC+框架内与合作伙伴达成协议，并准备与美国在这个问题是进行合作，”普京周五在与政府高级官员和石油行业高管的视频会议上说。
 “我认为有必要共同努力，以平衡市场并减少产量。”
普京说，俄罗斯认为全球石油产量每天减少约1000万桶是可能的，并准备“在伙伴关系”的基础上参与。
普京的表态是俄罗斯首次证实特朗普周四通过推文发布的消息。推文称俄罗斯愿意参与减产，该消息推动布伦特原油价格一度暴涨47%。

Posted by OOMMGG > 2020-04-05 08:11 | Report Abuse

If there is any big cut like 10 million barrels per day, it won’t going to happen in few days. Look from info gathered so far, we can conclude that all major oil producer has to cut proportionally. That mean out of opec++, US has to cut probably few million barrels too.

For US oil producer to cut at pro ratio, is that easy to happen? How many oil major and small shale oil producer in US? How they are geographically located? To convene them and for them to agreeing cutting at pro ratio is that easy and can happen in just a few days?

Some more US is practicing free market, it may face issue as certain oil major not agreeing on oil cut with OPEC. But anything can happen at this unprecedented juncture.

All the good luck for those join this unprecedented and volatile journey.

Posted by OOMMGG > 2020-04-05 08:17 | Report Abuse

I don’t think it going to settle by coming 9 April. Perhaps few weeks from last Friday the least.

Posted by OOMMGG > 2020-04-05 08:29 | Report Abuse

One need to evaluate the situation before join the board. If the efforts fail, how low the oil price will go? If finally pull through at 10 million barrel CUT/ day what is the fair level of oil price should be as the current glut is more than 15 million barrels/ day.

Posted by up88up > 2020-04-05 08:59 | Report Abuse

More time to collect

Posted by Mabel > 2020-04-05 10:16 | Report Abuse

A 25 percent spike in oil prices in a single day is enough to make even the most cynical market observers believe a market rebound is upon us. The truth is, the movement you saw was nearly entirely sentiment-driven and has next to nothing to do with oil market fundamentals.

Oil prices shot up on Thursday on the back of a flurry of tweets from Trump and some positive noises coming out of Saudi Arabia about production cuts. But even a brief look at oil market fundamentals should be enough for market observers to understand that the current rally will be brief.

Those that have taken profits on Friday, well done. I have taken profits in quite a number of my collection of Battleships to lower my holding cost except for Dayang and Hibiscus since these two are still under collection mode.

I still believe all 3 parties will eventually comes to an agreements. Right now all these wayang is part of their negotiation strategies. So trade wisely and adapt to these developments.

Meow..

Posted by up88up > 2020-04-05 10:20 | Report Abuse

Meow Mabel, good morning! Always looking forward for your comments.

Posted by tuapuikia > 2020-04-05 10:34 | Report Abuse

TP? 40 cents?

Posted by Depeche > 2020-04-05 10:37 | Report Abuse

If the hillbilly shale producers refuse to join in the production cut....Saudi and Russia could just drive the oil price down again to below USD20...until Trump comes begging.

Posted by OOMMGG > 2020-04-05 10:52 | Report Abuse

The 10 million barrels/ day cut already reflected in current oil price of US34. Tomorrow gonna see oil price down again.

Posted by tkl88 > 2020-04-05 10:56 | Report Abuse

t.p by next week => Break above 0.40
t.p by next Apr 2020 => Break above 0.60
t.p by next Jun 2020 => Break above 0.90
t.p by next Sep 2020 => Break above RM1.20
t.p by next Dec 2020 => Break above RM1.60
t.p by next Mar 2021 => Break above RM2.00
t.p by next Jun 2021 => Break above RM2.50
t.p by next Sep 2021 => Break above RM3.00

Posted by OOMMGG > 2020-04-05 10:56 | Report Abuse

If the final overall cut is at 15 million, we may see oil back to US50

Posted by Investsucess Trader > 2020-04-05 10:58 | Report Abuse

Different peoples has different opinions, best is to trade wisely...

Posted by OOMMGG > 2020-04-05 10:59 | Report Abuse

Unless the cut is over 20 million barrels/ day we can see oil price move back to US60

Posted by OOMMGG > 2020-04-05 11:01 | Report Abuse

Oil glut level VS oil price dynamic

Posted by Investsucess Trader > 2020-04-05 11:05 | Report Abuse

Lock down would be extended to 30 april, Short selling are lifted after april. Invest wisely......World wide cars are off the roads and aeroplanes are not flying, factories are not running. who are using the oil??? Don't be optimistic....

Posted by Investsucess Trader > 2020-04-05 11:33 | Report Abuse

Oil set to 'crater' Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia

Posted by HuatlaiOnglai > 2020-04-05 11:39 | Report Abuse

Trump don't like oil price too high nor too low. Optimum level $60/tong.

Posted by apanama > 2020-04-05 11:45 | Report Abuse

Win win situation for the time being , Brent will trade USD 40-45 per barrel while WTI..around USD 30-35..there are still upside USD 10 per barrel..

Posted by RedEagle > 2020-04-05 12:11 | Report Abuse

Satay Kajang >RM1
Expensive than Armada..wait for what..just buy and hold dear

Posted by truly > 2020-04-05 14:11 | Report Abuse

<<<<<<<<<<<<<<<<<<>>>>>>

monday gap down -30%

Trump threatens tariffs on oil imports to 'protect' U.S. energy workers

https://www.investing.com/news/commodities-news/trump-says-he-will-consider-tariffs-on-oil-imports-to-protect-us-jobs-2131405

Posted by HuatlaiOnglai > 2020-04-05 14:28 | Report Abuse

Stock market movement is based on leading indicator. What trump is doing is to push price higher. Is inevitable that oil price will go up next week onward.

Posted by lancefire > 2020-04-05 14:28 | Report Abuse

@truly you posted the same comment for all oil counters and pos malaysia and AirAsia for last few weeks. Be constructive please.

Posted by Kanm100 > 2020-04-05 15:33 | Report Abuse

Closed red tomorrow due to opec emergency postponed and Russia n saudi trying to blame each other.

Posted by Lucky81 > 2020-04-05 16:09 | Report Abuse

even though cutting down the productions, the demand still very low unless the cure is found.

Posted by ming > 2020-04-05 17:13 | Report Abuse

Weekly trend : Open flat but close higher..


Oil price is oligopoly business.. price is not subject to demad/supply

Posted by tkl88 > 2020-04-05 18:10 | Report Abuse

Yemen’s Saudi-aligned government says Houthis attacked oil pipeline pumping station in Ma’rib: Saudi Press Agency
/ The Mighty 790 KFGO | KFGO
Thomson Reuters
April 05, 2020 01:45 am

https://kfgo.com/2020/04/05/yemens-saudi-aligned-government-says-houthis-attacked-oil-pipeline-pumping-station-in-marib-saudi-press-agency/


DUBAI (Reuters) - The oil ministry of the internationally-recognized, Saudi-aligned government in Yemen said on Sunday the Iran-aligned Houthi group had attacked an oil pipeline pumping station in the province of Ma'rib, the state-run Saudi Press Agency reported.
The pipeline is operated by the Safer oil company, owned by Yemen's Saudi-aligned government, the agency added, without giving details on the attack. A spokesman for the Houthi group was not immediately reachable for comment.

(Reporting by Maher Chmaytelli; Editing by Mark Potter)

Posted by up88up > 2020-04-05 19:53 | Report Abuse

Any taker, tomorrow open and closing price?

Posted by TAK1 > 2020-04-05 20:09 | Report Abuse

Collect at right price 17+17=34 armada can touch or not 34

Posted by mala173318 > 2020-04-05 20:22 | Report Abuse

collect at 0.12

Posted by Investsucess Trader > 2020-04-05 20:28 | Report Abuse

better at 0.12-013, sorry to those who buy higher.

Posted by TAK1 > 2020-04-05 20:38 | Report Abuse

Since its a nice gamble let start tmr price at 20 and bid down because any amount collected lets u play longer since you will miss the up if u can afford the rise as you saw last Thu from now onwards its going to be a drama with good news and bad news.

Posted by tkl88 > 2020-04-05 20:39 | Report Abuse

With oil price $35 , Armada 0.20 ~ 0.30 no problem
With oil price $40 , Armada 0.40 ~ 0.50 no problem
With oil price $45 , Armada 0.60 ~ 0.70 no problem
With oil price $50 , Armada 0.80 ~ RM1.00 no problem
With oil price above $50 ,
Armada RM1.00 ~ RM3.00 no problem