OPEC+ will do what it takes to make sure prices stay >$80, to ensure sufficient buffer to cover production cost and further exploration on long term tenure. Oil is here to stay for another decade at least, amid push for cleaner energy which are cost more to develop for now and oil giants are too big to take the fall so soon. Hbis Pet is safe around RM1.05 - RM1.15 region.
Saudi+Russia+China trying to push the oil price in order to ensure inflation are always on the high note and this will force US FED to maintain or higher the interest rate hike. This will also force many country to think again on hold USD. They will start talking about de-dollarization as dollar is very strong due to interest rate hike and other currency is weaker. So many country will start think about de-dollarization.
Saudi+Russia+China trying to push the oil price in order to ensure inflation are always on the high note and this will force US FED to maintain or higher the interest rate hike. This will also force many country to think again on hold USD. They will start talking about de-dollarization as dollar is very strong due to interest rate hike and other currency is weaker. So many country will start think about de-dollarization.
Price jump comes after news oil producers will slash output by about 1.16 million barrels per day.
Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data had boosted market optimism. Brent oil futures jumped $4.30 to $84.19 a barrel on news output would be cut by about 1.16 million barrels per day, while US crude climbed $4.17 to $79.84. The change comes before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia.
i think energy counter today will be calm a bit after surged yesterday.. So relax and sit tight.. As Crude/brent price increasing, Energy stocks in malaysia also will going up slowly...
and US definitely will not just keep quite and do nothing... Its them who dont agree with OPEC and RUSSIA movement recently.
If Oil Price increasing, of course other price of consumer things will become higher... This will add more burden to americans..
so relax.... OIL WAR = ECONOMIC WAR between US and RUSSIA n its allies..
Have u all heard that Russia, China, India, Brazil discussing about new currency for their International trading?
Inventori minyak AS dah turun sebanyak 5.1 juta tongs minggu lepas. Permintaan minyak akan naik bulan depan kerana cuti hari pekerja yg panjang di China
“The concept of using sustainable fuels has also become a choice in the aviation sector, and this matter has gained the attention of MOT, especially at LIMA 2023 (Langkawi International Maritime and Aerospace Exhibition 2023),” he added.
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....
pang72
47,481 posts
Posted by pang72 > 2023-04-03 10:39 | Report Abuse
Add another usd10 per analysts prediction will be usd90..