Posted by Remo > 2020-04-09 17:07 | Report Abuse

Still uncertain on OPEC deal & most probably the MCO will be extended, which lead to supply more than demand. Stay calm !

Posted by limgor > 2020-04-09 17:17 | Report Abuse

stfu la remo missed the bus then at here talk cock

Posted by iwantmymoneyback > 2020-04-09 17:24 | Report Abuse

hahahahaah

Posted by tkl88 > 2020-04-09 17:55 | Report Abuse

OMG, Oil price continue to spike up sky high !
As at 5.55pm,
Nymex => $26.60 (+1.51) (+6.02%)
Brent => $34.20 (+1.36) (+4.14%)

Posted by paktua73 > 2020-04-09 18:08 | Report Abuse

Paktua n his troops always dare to speak frankly..
n we glad meet people who say we're just a bla bla only..
many was we cabar to come..
some come n until now still due "hutang" their have to pay out table..
to that person(paktua still have dignity not to expose your id here men)
please PAY your debt!!


tut tut
hoi..berani cabar berani bayar laa!!!
tu hari iya iya cabar paktua!!

Posted by ocmz66 > 2020-04-09 18:12 | Report Abuse

esok Bumi Armada 21sen.TP 35 terdekat..beli jgn tak beli

Posted by nasrulfahmi > 2020-04-09 18:17 | Report Abuse

hope for 35 sen

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

u didn't hope for 1.00? hahaha

Posted by limgor > 2020-04-09 18:27 | Report Abuse

volume so huge hard to move to 1.00

Posted by IvanC > 2020-04-09 18:34 | Report Abuse

sold all today. Bye bye Armada

Posted by limgor > 2020-04-09 18:36 | Report Abuse

@IvanC need to tell whole world that he sold

Posted by IvanC > 2020-04-09 18:58 | Report Abuse

@limgor just told you guys don't too greedy, got profit then run. Oil price still unstable.

Posted by limgor > 2020-04-09 19:16 | Report Abuse

@IvanC if small balls x dare take risks, dont play bursa la, go back to ur fd

Posted by vespa > 2020-04-09 20:14 | Report Abuse

Enquest break even at USD27 for 2021, fingers crossed it survives this crisis for Armada's sake

Posted by RedEagle > 2020-04-09 20:14 | Report Abuse

The current OPEC members are the following: Algeria, Angola, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia (the de facto leader), the United Arab Emirates and Venezuela.

Posted by apanama > 2020-04-09 20:25 | Report Abuse

Look at Armada graph..looks like to spike beyond 20sen...dont worrylah for Brent Oil..just few dollars to touch USD 40. With production cut plus soften DXY Index or Dollar Index..we can expect another USD 5-10 for speculator to play. So for sure USD 40-42-45 is in making.

No doubt people will argue about demand for crude oil. But this will be tone down by China unexpected demand after Wuhan already back to business. Media can change the dynamic of the market within a blink of eyes.

Expect dynamic of oil market will change soon.

All the best to all Armada warriors. Good luck. For those who dont dare enough to take the risk, just put your money at unit trust , fixed deposits and bawah bantal. or buy a tong drum and play punai inside there..:)

Posted by KAQ4468 > 2020-04-09 20:33 | Report Abuse

5 kupang on the way

Posted by stingray_ea > 2020-04-09 20:57 | Report Abuse

US OIl up or down ??? i know...

lai lai lai do some charity

gather all deep pocket big brother kasi pecah AVI ==> 0.1. help the poor buyer there.

Posted by Mabel > 2020-04-09 22:06 | Report Abuse

@tkl88 OMG, Oil price continue to spike up sky high !
As at 5.55pm,
Nymex => $26.60 (+1.51) (+6.02%)
Brent => $34.20 (+1.36) (+4.14%)
09/04/2020 5:55 PM

Ahead of OPEC+ conferences meeting, oil price rally up to 5% and stock market is bullish all around the world: The Bulls are taking control..for now..

Meow

Posted by Expertise > 2020-04-09 22:14 | Report Abuse

Wow today Brent oil price will jump to usd 38....

Posted by Expertise > 2020-04-09 22:33 | Report Abuse

https://oilprice.com/Energy/Energy-General/Saudi-Arabia-Could-Cut-Up-To-4-Million-Bpd.html

Posted by evan > 2020-04-09 22:39 | Report Abuse

Oil prices jumped on Thursday on reports that Saudi Arabia and Russia have reached a deal on a deep output cut, according to Reuters which cited an OPEC source, and that cuts could reportedly be as high as 20 million barrels per day. The reported deal comes as a virtual meeting between OPEC and its allies, known as OPEC+, kicked off in which some of the world’s largest producers were set to discuss production as the coronavirus saps demand for crude.
- CNBC

Posted by Najib Zamry > 2020-04-09 22:40 | Report Abuse

https://www.cnbc.com/2020/04/09/oil-jumps-ahead-of-make-or-break-opec-meeting.html

Posted by Jerry Yip > 2020-04-09 22:48 | Report Abuse

buy

Posted by up88up > 2020-04-09 22:48 | Report Abuse

Tomorrow pecah bumbung!!

Posted by Gordon Weng M.T > 2020-04-09 22:50 | Report Abuse

Bumi Armada can started recover from previous losses???

Posted by Expertise > 2020-04-09 22:51 | Report Abuse

25cents tomorrow

Posted by bux0880 > 2020-04-09 22:55 | Report Abuse

Sell on news?

Posted by Mabel > 2020-04-09 23:11 | Report Abuse

Meow Meow Meow

Posted by iwantmymoneyback > 2020-04-09 23:34 | Report Abuse

Only know results of meeting tomorrow morning?

Posted by Silent75 > 2020-04-09 23:52 | Report Abuse

Wah... Suddenly drop.... Burst meeting result???

Posted by momo33 > 2020-04-09 23:56 | Report Abuse

only 6 mpbd cut only for April . 4m saudi ,2m russians.

Posted by tkl88 > 2020-04-10 00:13 | 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 00:39 | 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 iwantmymoneyback > 2020-04-10 00:39 | Report Abuse

If only 6 mill, will price still increase rapidly?...

Posted by bux0880 > 2020-04-10 00:53 | Report Abuse

WSJ NEWS EXCLUSIVE BUSINESS
Saudis Take Big Stakes in European Oil Companies.

Saudi Arabia’s sovereign-wealth fund has amassed stakes worth roughly $1 billion in four major European oil companies, according to people familiar with the matter, buying assets it perceives as undervalued in a market depressed by the coronavirus pandemic and low oil prices.

Posted by TAK1 > 2020-04-10 00:53 | Report Abuse

We have a deal finally.

https://oilprice.com/Energy/Oil-Prices/Global-Oil-Producers-Agree-On-Joint-10-Million-Bpd-Output-Cut.html

Posted by Gemini > 2020-04-10 03:59 | Report Abuse

All confidence shattered cut production no use already.

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 Mabel > 2020-04-10 06:59 | Report Abuse

Meow Meow Meow

Price fluctuations is part of the playing fields. All you have to do is to react to it.

Capitalising on this volatility, I collected alot of Barakah shares dirt cheap at 1 sen when many were selling, yesterday I sold some of holding at 2 sen. Make Handsome profits.

Silent Mary Barakah which my weakest PN17 Battleship has now turned into a positive and profitable venture.

Now I just have to wait for the Regulation Plan promised by the CEO. Barakah has registered positive QR recently.. Once they announce the Regulation Plan, it will rocket like my Royal Fortune Icon..

Meow...

Posted by tkl88 > 2020-04-10 07:14 | 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 07:22 | 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 CHLEONG888 > 2020-04-10 08:28 | Report Abuse

Buy buy buy

Posted by stingray_ea > 2020-04-10 08:38 | Report Abuse

US OIl up or down ??? i know... i will tell you later. i help you, you help the poor buyer... deal

lai lai lai do some charity first. lots of money out there ...

gather all deep pocket big brother kasi pecah AVI ==> 0.1. help the poor buyer there.

Posted by Keyman188 > 2020-04-10 08:48 | Report Abuse

Saudi-Russia Oil Deal Under Threat as Mexico Walks Out of OPEC+ Talks

(April 9, 2020, 11:14 PM GMT+8 Updated on April 10, 2020, 7:43 AM GMT+8)

An agreement between Saudi Arabia and Russia for record oil-production cuts was endangered late on Thursday as Mexico refused to participate in the curbs and left the meeting without approving the deal.

Ministers will continue to discuss ways to secure the Latin American country’s approval on Friday, delegates said. The situation, which came after more than 9 hours of talks via video link, cast doubt over a global effort to revive the oil market from a debilitating coronavirus-induced slump.

Earlier on Thursday, OPEC+ had tentatively agreed to cut production by about 10 million barrels a day in May and June, delegates said. Saudi Arabia and Russia, the biggest producers in the group, would each take output down to about 8.5 million a day, with all members agreeing to cut supply by 23%, one delegate said.

Attention should have turned on Friday to the Group of 20 energy ministers meeting. A contribution from major producers including the U.S. and Canada -- possibly as much as 5 million barrels a day of further supply reductions -- could boost efforts to revive prices after the initial OPEC+ agreement failed to push crude higher on Thursday.

The dogged refusal of Mexico’s Energy Secretary Rocio Nahle Garcia to accept the production level proposed for her country as part of the deal upended that schedule.

Political Pressure

The unexpected setback doesn’t change the urgent need for the Organization of Petroleum Exporting Countries and its allies to reduce production. Oil’s spectacular price crash this year has threatened the stability of oil-dependent nations, forced major companies such as Exxon Mobil Corp. to rein in spending and risked the very existence of small independents.

The cartel has been put under intense pressure by President Donald Trump -- who spoke with the leaders of Russia and Saudi Arabia by phone on Thursday -- and American lawmakers, who fear thousands of job losses in the U.S. shale patch.

“Both Saudi and Russia were going to have to cut anyway, and these cuts allow them to win political points too,” said Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd.

While the headline cut equates to a reduction of about 10% of global supply, it makes up just a fraction of the demand loss, which some traders estimate at as much as 35 million barrels a day.

Brent dropped 4.1% to $31.48 a barrel in London. Prices have tumbled by half this year as the spread of the coronavirus coincided with a bitter price war that saw producers flood the market.

“Covid-19 is an unseen beast that seems to be impacting everything in its path,” Mohammad Barkindo, secretary-general of the Organization of Petroleum Exporting Countries, said in a speech at the online gathering. “The supply and demand fundamentals are horrifying” and the expected oversupply, particularly in the second quarter, is “beyond anything we have seen before.”

Barkindo urged action to tackle the growing surplus, which he estimated at 14.7 million barrels a day in the second quarter. And he wants action not only from OPEC+ producers but from nations beyond the alliance.

Russia has insisted that the U.S. in particular do more than just let market forces reduce its record production. Trump, meanwhile, has said America’s cut will happen “automatically” as low prices put shale in dire straits, a sentiment reiterated by his energy secretary on Thursday.

America welcomed the OPEC+ cuts, saying it would send a signal that all major oil-producing countries will respond in an orderly manner to market realities caused by the virus, a senior administration official said.

Tapering Off

OPEC+’s tentative plan would see the output curbs tapering off after two months, depending on the evolution of the coronavirus. The 10 million-barrel-a-day cut may shrink to 8 million a day from July and then 6 million a day from January 2021, according to one delegate.

Saudi Arabia will apply its reduction to a production level of about 11 million barrels a day, a delegate said. That’s lower than recent output levels, which rose above 12 million a day in early April. Russia would curb its supply by a similar level.


##https://www.bloomberg.com/news/articles/2020-04-09/opec-agrees-on-deep-oil-output-cuts-to-fight-market-slump?srnd=premium-asia

Posted by Silent75 > 2020-04-10 08:58 | Report Abuse

Wtf... Drop till USD 31.....going down to 20?

Posted by TAK1 > 2020-04-10 09:18 | Report Abuse

US pulls out of deal.

Posted by iwantmymoneyback > 2020-04-10 09:24 | Report Abuse

Another meeting today tho right?...

Posted by bullrun1985 > 2020-04-10 09:32 | Report Abuse

run for your life

Posted by signalmw > 2020-04-10 09:36 | Report Abuse

Pak tua, all in