(Bloomberg) -- The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.
Year 2002? Didn't check or edit by writer or section panel or the person who posted it.., that showed their work ethics or attitudes...you want to believe him?.. Happy weekend buy stay safe, stay home....wakakaka
Mabel would have recommended FGV, unfortunately right now Mr Felda is trying to court her to be taken Private. It can be another MMC. Right now this is a political counter. Only collect if the price is below RM 1.30..
When comes to Plantation, go for the East Malaysian Plantation. Oil & Gas Companies has only one Engine of Growth which is High Brent Oil Prices. So far so good as Oil is entering Winter Season & Oil demand might even spike higher if winter is very Cold.
Plantation Palm oil has 3 Engines of Growth: Her motivation to invest in Palm Oil is feeding 8 Million people across the Planet + Bio Diesel Renewable Energies +Land Opportunities. Malaysia Palm oil and palm oil products contributed more than RM70 billion in 2020 with an export volume of 17.7 million tonnes.
Despite lack of workers due to Pandemic, Do you know that Palm oil is currently contributing 3.6% of Malaysian GDP? This figure will improve in the future.
China will be the next engine of growth for our Palm Oil Industry due to the New Policies that has been imposed by the Chinese Government. The latest derivative is expected to entice international investors, particularly the commodity traders in China’s palm oil market at Dalian Commodity Exchange, to trade on both Exchanges concurrently.
LONDON (Reuters) -OPEC and its allies are likely to stick to an existing deal to lift output by 400,000 barrels per day (bpd) of oil in November, three OPEC+ sources said on Monday, as they weigh the threat of new coronavirus surges against consumer calls for cheaper crude.
Opec most probably will stick with it's original plan according sources. Possibility brent will hit usd 80 and above tomorrow. Hang on for another ride tomorrow...
Oct 4 (Reuters) - Oil jumped to a three-year peak on Monday after OPEC+ confirmed it would stick to its current output policy as demand for petroleum products rebounds, despite pressure from some countries for a bigger boost to production. The producer club's decision to keep increasing oil output gradually sent prices sharply higher, adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. read more OPEC+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until at least April 2022 to phase out 5.8 million bpd of existing production cuts. Brent crude settled up $1.98, or 2.5%, to $81.26 a barrel. It rose 1.5% last week for a fourth consecutive weekly gain, and was back up to highs last seen in 2018.
U.S. oil settled up $1.74, or 2.3%, to $77.62 a barrel after gaining for the past six weeks, and was at its highest since 2014. "Given the demand picture and the outcome of the OPEC meeting, the overall sentiment around crude is bullish," said John Kilduff, partner at Again Capital LLC in New York. Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil closely trailing, according to energy watchdog, the International Energy Agency. Three-quarters of global energy demand is still met by fossil fuels, with less than a fifth by non-nuclear renewables. OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, has faced pressure from some countries to add back more barrels to the market as demand has recovered faster than expected in some parts of the world.
Four OPEC+ sources told Reuters recently that producers were considering boosting output by more than had already been agreed. read more The oil price rally has also been fuelled by an even bigger increase in gas prices, which have spiked by 300%, prompting switching to fuel oil and other crude products to generate electricity and for other industrial needs.
Oil will not will but confirm hit all time higher, no doubt on that as opec allies stick with their original plan which is gradually increase the output and ignored USA calling to increase output. I think OPEC do with intentionally and they want price to go higher. Another extraordinary qtr coming soon.
Another good news... border will open soon and once flight takes off....fuel consumption will shoot up. This will give significant effect on world crude oil supply.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
strattegist
23,459 posts
Posted by strattegist > 2021-10-01 16:25 | Report Abuse
merah