Opec+ already ta pao the supply of oil to world market. If they don't increase supply and demand keep rising where is the price going? Up or down ? Answer this question and win big.
Everyone have their own opinion. It is .o.k. just follow your instincts. Summer time I thought more use for oil in northern hemisphere as more people drive during vacation. Especially this year as it is safer to use your own transport than to fly. So lots of people in U.S. , Canada, and Europe will be driving long distances. China and India plus many countries with large populations will also be driving longer distances and avoiding air travel. Just imagine the huge demand while supply is being controlled by Opec+. Previously Opec countries were not very united but since the shock of the Pandemic they have no choice but to huddle together and speak with one voice if not they are finished. Another factor that could boost markets is when Johnson & Johnson get approval for their vaccine. Biden is also wanting to control U.S. oil output as their shale oil is very very polluting to the environment. The U.S. $ weakening going forward due to large scale money printing will also boost commodities prices. So my friends there are actually many many reasons for oil price to continue to climb. I am not saying there is a 100% guarantee but the chances are quite high. Good luck to everyone.
brent market close below 62usd.. im not always right, but used to be right.. cheers _____________ SuperPanda oil has to retrace bcoz has rally from 57 to 65 in 2 wks, a correction is needed, possibly below 62 19/02/2021 1:18 PM
Goldman: European Oil Major Stocks Poised To Rally This Year By Charles Kennedy - Feb 18, 2021, 3:00 PM CST Join Our Community
The expected recovery of global oil demand for transportation and more positive earnings this year, compared to the nightmare of 2020, are setting the stage for a rally in the stocks of the biggest European oil companies, Goldman Sachs says.
Shares in Europe’s Big Oil could jump by between 20 percent and 50 percent over the next year, thanks to recovering demand and the potential launch of share repurchases, Goldman Sachs analysts led by Michele Della Vigna said in a note as carried by Barron’s.
“A transportation recovery can reignite momentum for the underlying commodity and Big Oils equities, which we expect could be one of the key recovery/value trades in the coming months,” Goldman Sachs said.
The edge today runs am article titled, repsol said to be looking to exit Malaysia (page 18)
The article also mentioned other foreign companies besides repsol that plan to exit Malaysia.
One of them is Exxon mobil that was supposed to announce winner of its bid last yr. According to the edge, the market banter has it that HIBISCUS is leading in the bid.
Hibiscus is a growing company. It still has intention to grow by acquiring new assets and developing existing ones. It does have a dividend policy statement but has not been paying dividends for a few years. I believe dividends will be paid once it matures and has sustainable profits. But for now appreciation of the share price is what everyone looks for. Hopefully it will head back above RM1 with the price of oil in recovery mode.
Hibiscus’ current 2P net reserves of 46.1mil barrels in North Sabah and the UK account for half of Sapura Energy-OMV’s largely gas-based 92.3mil barrels of oil equivalents. However, in terms of oil reserves, Hibiscus’ 2P reserves is 7.7x SapuraOMV’s 6.2mil barrels ~AmInvest
let see how much profit they made this time around as their breakeven is very low. With his price.. you can imagine bunga raya profit and revenue this Quarter and Next Quarter. For sure one this on its way to RM1.
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char1234
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Posted by char1234 > 2021-02-19 20:48 | Report Abuse
price of oil going down....correction time, time to buy