Posted by Baby Shark > 2020-03-11 16:39 | Report Abuse

Yes.. good timing cut loss..

Posted by Baby Shark > 2020-03-11 16:43 | Report Abuse

Many can kena force sell if oil USD31 tonight ..

Posted by williamtkb > 2020-03-11 16:45 | Report Abuse

Tomorrow break 20cents? Looks like everyone very confident can break 20cents tomorrow as not willing to sell today. LOL

Posted by williamtkb > 2020-03-11 16:58 | Report Abuse

Tomorrow TP 20cents?

Posted by tkl88 > 2020-03-11 17:01 | Report Abuse

U.S. Shale Collapse Will Lead To Higher Oil Prices
By Nick Cunningham - Mar 10, 2020, 8:00 PM CDT
https://oilprice.com/Energy/Oil-Prices/US-Shale-Collapse-Will-Lead-To-Higher-Oil-Prices.html

Posted by tkl88 > 2020-03-11 17:01 | Report Abuse

U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war.

Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d) in April, a shocking escalation of the war for market share. That level of output is believed to be beyond what Aramco can produce on a sustainable basis. In other words, Saudi Arabia is going all-out to flood the market.

Also, Saudi energy minister Prince Abdulaziz bin Salman didn’t sound interested in meeting with Russia anytime soon. “I fail to see the wisdom for holding meetings in May-June that would only demonstrate our failure in attending to what we should have done in a crisis like this and taking the necessary measures,” Prince Abdulaziz told Reuters.

According to Energy Intelligence, Saudi Arabia is conducting budgeting exercises to game out scenarios in which oil crashes to between $12 to $20 per barrel, and will even look at an extreme scenario in which oil falls below $10.

Russia says it can withstand the price war at $25 to $30 per barrel for 6 to 10 years. Neither side appears willing to budge.

“Monday will go down as one of the bleakest market days in the history of the energy sector,” Raymond James wrote in a note. “Was this capitulation day? It certainly feels like it... it is hard to imagine how much worse sentiment can get.”
Related: Russia Fires Back: Could Boost Oil Production By 500,000 Bpd

As a result, the immediate victim will be U.S. shale. “[O]il should bottom out when producers begin physically shutting in wells, which is indeed what set the floor four years ago,” the investment bank added.

The reaction was swift. With share prices in freefall, the number of shale companies announcing budget cuts multiplied at the start of the week. Diamondback Energy and Parsley Energy immediately announced plans to cut spending and reduce drilling activity.

Canadian oil company Cenovus Energy slashed 2020 capex by 32 percent and its production guidance by 5 percent. Ovintiv said it would cut spending and tried to reassure skittish investors that it had enough liquidity. Marathon Oil cut spending by $500 million.

Even Chevron admitted that it might need to cut spending, just days after it unveiled lofty goals on free cash flow over the next five years. “We are reviewing alternatives to reduce capital expenditures, that are expected to lower short-term production and preserve long-term value,” Chevron said in a statement to Reuters late on Monday. Chevron was the first oil major to suggest that it might cut spending, and the oil giant said that it needs $55 per barrel in order to cover its spending and shareholder payouts.

At these prices almost no shale well drilled today can make money. Rystad Energy says just a handful of companies have breakevens lower than today’s oil price. Friezo Loughrey of data firm Oil Well Partners LLC told Bloomberg that Permian breakevens are closer to $68 per barrel if investors want an adequate return within 24 months. Today, prices are trading at half of that.
Related: Saudi Arabia's Archenemy Is Taking Advantage Of The Oil War

“Many US fracking companies already had their backs to the wall before the price slump due to high debts and financing difficulties,” Commerzbank wrote in a note. “Drilling activity declined continuously until mid-January, and has since stagnated at a low level.”

The one-two combo of the coronavirus pandemic and the Saudi-Russia price war could deliver a knockout blow to U.S. shale.

But perspectives on the impact on production vary. JBC Energy said that they “prefer a more cautious call on US supply declines,” adding that it may take a few months before production begins to fall.

But others see an immediate retreat. “A decline in US shale oil production of 1-2m bl/day from current total US oil production of 13.1m bl/day is natural to expect,” Bjarne Schieldrop, chief commodities analyst at SEB, said in a statement. “We now think that a last-minute deal between Russia and OPEC before the expiry of the current cuts at the end of March 2020 is very unlikely. Russia has probably firmly decided that now is the time to pull away the rug from under the feet of the shale oil producers, so now is the time for the second shale oil reset.”

By Nick Cunningham of Oilprice.com

Posted by SinGor > 2020-03-11 17:16 | Report Abuse

120mil {Sell} 96mil { Buy } Who can buy 120mil from sellers? All PNB agents. Got to push back to
30cents. Tonite Dow should be Green after England cut Rate. Trump will out do England (got to)
bcos CoronaVirus will hit USA, like it or Not

Posted by Kopimilo > 2020-03-11 17:35 | Report Abuse

Russia did not bow to OPEC, specifically Saudi request to cut production may justify that on the geopolitical view. Since US sanction on Russian mega gas pipeline project Nordstream 2, impacting delayed completion for remaining 20% for at least 6 months or beyond. This very painful on Russian economically which affected new expected revenue, upon asking to cut oil production will be nonsense to be accepted. Bear in mind that Rusian economy are subjected to numerous US sanction, to another sanction since the Ukraine crisis, Crimea crisis, MH17 shoot down, Skripal poisoning, few other alleged Russian poisoning of ex-Russian citizens in Europe, sanction Russian friendly economic ally Venezuela and Iran, bowing to price cut already the thin red line to cross.
Whether intentionally or not, that the current oil price war may really inflicted badly to US shale oil industry, thus US hegemony on Russia will be timely met with long overdue respond.

Posted by SinGor > 2020-03-11 17:37 | Report Abuse

https://finance.yahoo.com/news/ecb-lagarde-warns-2008-style-082824487.html

Christine Largarde ----President of EU Central bank said:

Posted by SinGor > 2020-03-11 18:02 | Report Abuse

not so easy to kill all Shale operators. The one in financial ruins will surely kaput. Many shale
operators hedged their output. If Oil is 60, they sell at 50. If Oil is 30, Buyer had to buy at 40

Posted by bensonlam33222 > 2020-03-11 18:04 | Report Abuse

Saudi and Russia will reach a win win solution on 18 march . Saudi Arabia needs oil at $80-$85 a barrel to balance budget.oil price war is not sustainable especially for Saudi .oil price will go above US$50 soon.

https://www.reuters.com/article/us-saudi-economy-imf/saudi-arabia-would-need-oil-at-80-85-a-barrel-to-balance-budget-imf-official-idUSKCN1Q01N0

Posted by SinGor > 2020-03-11 19:21 | Report Abuse

Corona Virus problem. How to get consumption up? Everybody is not driving during this summer

Posted by JoshuaMS7 > 2020-03-11 19:47 | Report Abuse

It seems oil price crashing again! US future crashing -660++!!

Posted by Mabel > 2020-03-11 19:51 | Report Abuse

Meow

Posted by Kopimilo > 2020-03-11 20:41 | Report Abuse

Italy already like Wuhan, certain city or area lock down due to covid-19. Expect some more city over Europe whose government may treat covid-19 lightly. If that's the case the 2008 economic collapse is not impossible.

Posted by mf > 2020-03-11 20:44 | Report Abuse

Saudi Arabia unveils plans to maximize oil output, escalating a price war with Russia

Posted by James Ng > 2020-03-11 21:29 | Report Abuse

https://klse.i3investor.com/blogs/general/2020-03-11-story-h1484807301.jsp
[转贴] [Facebook live video:浅谈Velesto Energy berhad (Velesto)] - James的股票投资James Share Investing

Posted by Kopimilo > 2020-03-11 23:55 | Report Abuse

Opec new guidance for 2020 oil demand growth down by 94%.
If Saudi, Russia, other OPEC members follow suits pumping, flooding more oil than world demand, will oil price further deeper down that the pain blow back to USA, Saudi, Rusia, other producers, exporters, then at this un-imaginable prices between USD10 to USD15 per barrel, resulting no winner at all in this free for all price war, finally all coming to the table talk, or will it come earlier tham the late midnight train stages.

Posted by JoshuaMS7 > 2020-03-12 05:46 | Report Abuse

Guys dji crashed another - 1400pts with oil price crash - 4% more!! It's confirmed bearish crash in us share market! Better keep your cash into bank account to wait for next golden chance!

Posted by bensonlam33222 > 2020-03-12 06:10 | Report Abuse

Posted by tkl88 > Mar 11, 2020 4:55 PM | Report Abuse

Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d)

Saudi's MAXIMUM OIL PRODUCTION IS 10 MILLION BARRELS PER DAY.SAUDI IS SELLING FROM ITS OIL RESERVE.HOW LONG CAN IT DO THAT ?

Posted by Alimalay > 2020-03-12 08:45 | Report Abuse

9cent coming

Posted by Baby Shark > 2020-03-12 08:54 | Report Abuse

I wait minyak USD25..

Posted by Kopimilo > 2020-03-12 09:09 | Report Abuse

Time to collect a few, do not be greedy

Posted by Lewis Lee > 2020-03-12 16:02 | Report Abuse

Kaunter minyak semua terbakar sampai barbeque !!

Posted by tkl88 > 2020-03-12 16:31 | Report Abuse

Now is the Glove theme:
Topglove -> 6.60 (+0.32) (+5.1%)
Kossan -> 5.36 (+0.24) (+4.7%)
Harta -> 6.61 (+0.13) (+2.1%)

When will be the O & G theme ?

Posted by JoshuaMS7 > 2020-03-12 18:25 | Report Abuse

Guys tonight us market probably crash another 2000 pts and oil price might crash another 10% and above, tomorrow should be another crazy panic selling..

Posted by williamtkb > 2020-03-12 18:53 | Report Abuse

Wait for Monday only collect. Weekend might sharp drop again. Do not keep over night as might be nightmare after wake up next morning. Relax and enjoy weekend

Posted by Shines > 2020-03-12 19:42 | Report Abuse

How much more can it down

Posted by Kopimilo > 2020-03-12 21:07 | Report Abuse

Covid-19 paralysed every sectors of world economy, entertainment, sports, air travel industry including its peripherals, food services, tourism & leisure, gambling, sea cruising, manufacturing, religious activities, be it at locality or may otherwise globally, finally energy industry, oil & gas due to significant low demand that spiralling to global equity market, constraint financial institutions vulnerability.

Posted by Will76 > 2020-03-12 22:41 | Report Abuse

Breaking News from CNBC

Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track for its worst week since December 2008, and its third largest weekly decline on record.

On Thursday WTI fell $2.04, or 6.2%, to trade at $30.95 per barrel. Earlier in the session it traded as low as $30.02.

International benchmark Brent crude fell $2.51, or 7%, to trade at $33.26 per barrel.

Posted by JoshuaMS7 > 2020-03-13 04:38 | Report Abuse

Probably back to 0.150 or below, run!!

Posted by williamtkb > 2020-03-13 05:39 | Report Abuse

Be prepare crude oil below USD20 anytime. Below 5cents is possible. Good luck.

Posted by JoshuaMS7 > 2020-03-13 06:18 | Report Abuse

With 20++ usd no oil company in Malaysia can survive even hibiscus! Guys think about it!

Posted by JoshuaMS7 > 2020-03-13 06:24 | Report Abuse

Furthermore dji everyday crazy dropping, no rebound at all, temporarily no light for investment!

Posted by Kopimilo > 2020-03-13 09:35 | Report Abuse

Temporarily go sell goreng pisang, kuey tiaw goreng, yutiaw goreng dlu la, let both oil war & covid-19 finish off first.

Posted by shakira > 2020-03-13 10:59 | Report Abuse

Lucky you were born that far away so
We could both make fun of distance
Lucky that I love a foreign land for
The lucky fact of your existence
Baby I would climb the Andes solely
To count the freckles on your body
Never could imagine there were only
Ten million ways to love somebody
Can't you see
I'm at your feet
Whenever, wherever
We're meant to be together
I'll be there and you'll be near
And that's the deal my dear
There over, hereunder
You'll never have to wonder
We can always play by ear
But that's the deal my dear
Lucky that my lips not only mumble
They spill kisses like a fountain
Lucky that my breasts are small and humble
So you don't confuse them with mountains
Lucky I have strong legs like my mother
To run for cover when I need it
And these two eyes that for no other
The day you leave will cry a river
At your feet
I'm at your feet
Whenever, wherever
We're meant to be together
I'll be there and you'll be near
And that's the deal my dear
Thereover, hereunder
You'll never have to wonder
We can always play by ear
But that's the deal my dear
Think out loud
Say it again
Tell me one more time
That you'll live
Lost in my eyes
Whenever, wherever
We're meant to be together
I'll be there and you'll be near
And that's the deal my dear
There over, hereunder
You've got me head over heels
There's nothing left to fear
If you really feel the way I feel
Whenever, wherever
We're meant to be together
I'll be there and you'll be near
And that's the deal my dear
There over, hereunder
You've got me head over heels
There's nothing left to fear
If you really feel the way I feel

Posted by kmohan62 > 2020-03-13 11:45 | Report Abuse

with so much debt...this counter will soon be a PN17 resident.

Posted by Kopimilo > 2020-03-13 11:50 | Report Abuse

Even gloves factory dipping today. Nowhere to hide, cover. Time sit out for long time before all the issues receded.

Posted by Lucky88 > 2020-03-13 14:33 | Report Abuse

Thank you Operators ! Up Up Up.......

Posted by Lucky88 > 2020-03-13 14:34 | Report Abuse

Buy..Buy..Buy...

Posted by Lucky88 > 2020-03-13 14:34 | Report Abuse

Ha..Ha..Ha...

Posted by Lucky88 > 2020-03-13 14:36 | Report Abuse

Buy at Low,,. Sell at Top prices.....Huat ah!!!!!!

Posted by Lucky88 > 2020-03-13 14:38 | Report Abuse

buy buy buy good price...,....

Posted by tkl88 > 2020-03-13 14:52 | Report Abuse

Good news,
Crude oil price make a big U-turn spike up back !
As at 2.50pm,
Nymex => $32.27 (+0.77) (+2.44%)
Brent => $34.09 (+0.87) (+2.62%)

Posted by Lucky88 > 2020-03-13 14:52 | Report Abuse

Buy Buy Buy.........

Posted by tkl88 > 2020-03-13 15:05 | Report Abuse

Dow Jones future also from red red this morning make a big U-turn to spike up to become green green !
As at 3.00pm,
DJI => 21,471.0 (+386.0) (+1.83%)

Posted by Lucky88 > 2020-03-13 15:28 | Report Abuse

Buy Buy Buy.....Up Up Up.....

Posted by Lucky88 > 2020-03-13 15:36 | Report Abuse

Buy Buy Buy Up Up Up.....Huat ah !!!!!

Posted by Lucky88 > 2020-03-13 15:41 | Report Abuse

Huat ah.....

Posted by Kopimilo > 2020-03-13 17:27 | Report Abuse

Hold firm for one year may come the usual market normalisation.