Peter Leong Index down 21.07 points. What do you expect. Not only this counter down. Must have holding power. Best of luck to you all. Don't always think of KFC. Think of Kenny Rogers. 19/11/2020 5:55 PM
KUALA LUMPUR: Malaysia said on Wednesday it has signed an agreement with China to cooperate on the development of a safe and efficacious vaccine, as part of efforts to combat the Covid-19 pandemic.
Under the agreement, in force for an initial period of five years, the Southeast Asian nation will be given priority access to Covid-19 vaccines developed by China. Both will share knowledge and expertise and facilitate scientific and technological capabilities to advance vaccine development in their countries, Malaysia said in a joint ministerial statement. Science, Technology and Innovation Minister Khairy Jamaluddin signed the agreement with his Chinese counterpart Wang Zhigang in a virtual ceremony.
Cooperation between Malaysia and China under the agreement would be supervised by a committee chaired by the foreign affairs ministers of both countries that was formed in October to address post-pandemic challenges.
"Both countries will also support the participation of their public and private sectors including universities, institutions, societies and organisations in joint collaborative projects," the Malaysian ministries said.
Crude oil had enjoyed its premium status of a sound financial asset for years, with some even comparing its intrinsic value to that of gold. However, things have changed in 2020. The performance of crude oil so far this year can be described as anything but stable. The US targeted assassination of Iran’s most powerful military commander, the ongoing Covid-19 pandemic and the Saudi-Russia oil price war have been among key factors contributing to the commodity’s wild ride.
Yet, Oil prices are set to rise to $60 a barrel by the end of next year as the oversupply will have been drawn down by then, according to Citigroup, which is bullish on oil. Growing economies will lead to global oil demand returning to the pre-coronavirus levels in late 2021, Citi’s global head of commodities research Ed Morse told Bloomberg in an interview.
According to Citigroup, Brent Crude prices – which slumped below $40 a barrel last week amid growing concerns about demand – are set to average around $55 per barrel next year and recover to $60 a barrel by the end of 2021. WTI Crude – at $37 early on Monday – is expected to jump to $58 per barrel by the end of next year.
Another major bank, Goldman Sachs, also sees prices hitting $60 a barrel and even more next year. Goldman Sachs expects Brent Crude to reach $65 a barrel in the third quarter of 2021, although it could end the year lower, at $58 a barrel. Goldman Sachs also expected West Texas Intermediate to rally to $55.88 a barrel by the third quarter of next year, up from $51.38 a barrel in earlier forecasts, Business Insider reports.
"Oil Producers and Energy related companies in Malaysia that are considered to possess capability of returns by end-2021 includes Hibiscus Petroleum with a target price of 0.70 cents and Sapura Energy Berhad."
Aviation oil demand drop 80%, now recovering. Bubble travel is overwhelming, massive massive shall start at Jan, apparently some country already start vaccine, oil will start fly I guess
Goreng (Oil) by hedge Fund is always 6 months ahead before a rally start. They cannot Buy / Dump 200Billion in One lot. It will takes 2--3 month to dump into a rally without crushing the rally.
You Buy low and Sell High....Dont be a sohai Buy high, high And Sell low, low ----Aim Dec 2021
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....
BigZakar
261 posts
Posted by BigZakar > 2020-11-19 20:05 | Report Abuse
no need hold 10 years........because next year oil price will up