Posted by RedEagle > 2020-04-09 20:17 | Report Abuse

The current OPEC members are the following: Algeria, Angola, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia (the de facto leader), the United Arab Emirates and Venezuela.

Posted by Allantanks > 2020-04-09 22:53 | Report Abuse

Wow. Oil price up so fast agreement done d?

Posted by Mabel > 2020-04-09 23:12 | Report Abuse

It's already on the news...

Both Russia and Saudi agree to cut 20 million barrel per day.

Oil Spike 12 %...

Tomorrow I expect all O&G counters will explode...

Meow....

Posted by RedEagle > 2020-04-09 23:14 | Report Abuse

20million cut..Great deal..

Posted by super_newbie > 2020-04-09 23:20 | Report Abuse

that's outdated news la, oil price drop back again :((

Posted by Legend > 2020-04-09 23:27 | Report Abuse

get ready to see the biggest falls

Posted by super_newbie > 2020-04-09 23:30 | Report Abuse

won't falls laa, Saudi and Russia already agreed to big cut, just that no like expected and only 2 months period.

Posted by Twowah123 > 2020-04-09 23:44 | Report Abuse

Good. Tmrw huat ahh !!

Posted by tkl88 > 2020-04-10 00:19 | Report Abuse

Wow, Congratulations to you all guys who is still keep tight tight & Sailang Armada at current low price !
Good news from the OPEC+ meeting which the output cut was Deal and the oil price then was spike up sharply!

As at ‬12.13am,
Nymex => $26.02 ‪(+0.93) (+3.71%)‬
Brent => $33.86 ‪(+1.02) (+3.11%)‬

Posted by tkl88 > 2020-04-10 00:48 | Report Abuse

Russia and Saudi Arabia agree deal on oil output cuts: Report
OPEC members are on Thursday set to discuss 'deep cuts' of up to 20 million barrels per day
By MEE and agencies
Published date: 9 April 2020 14:40 UTC
Last update: 18 min 21 sec ago

https://www.middleeasteye.net/news/russia-and-saudi-arabia-agree-deal-oil-output-cuts

Russia and Saudi Arabia have overcome all hurdles to cut oil production at a meeting of OPEC, ending a month-long price war.
Oil prices jumped after Reuters reported that the two countries have agreed to a "deep cut" in crude production.
OPEC and other oil producers were set to debate on Thursday oil cuts as big as 20 million barrels per day (bpd), equivalent to about 20 percent of global supplies, one OPEC source and a Russian source told Reuters.
"That is a global deal," the OPEC source said.
He did not specify if the United States would be involved - something Russia and OPEC producers have insisted on.
A worldwide lockdown to slow the spread of the coronavirus pandemic has cut fuel demand by roughly 30 percent and contributed to a crash in prices that took major benchmarks down by more than two-thirds.
Prices surge
Prices surged over 10 percent earlier on Thursday as producers appeared set to cut production sharply, but the exact details of the cuts remain unclear.
The OPEC and allies including Russia - a group known as OPEC+ - were in talks on Thursday to cut production sharply, with numbers as high as 20 million bpd bandied about, OPEC and Russian sources said.
That would be equivalent to about 20 percent of global supplies, to support prices hammered by the coronavirus crisis. However, it is unclear if a figure that lofty includes cuts made for economic decisions by private producers in the United States, Canada and elsewhere, or if OPEC assumes those countries will mandate cuts, which the US has not wanted to do.
A cut of 20 million bpd would be by far the biggest output cut ever agreed by OPEC. But Russia has insisted it will only reduce output if the United States joins the deal. US laws prevent coordination among private companies.
Analysts, meanwhile, said that even if such record cuts are agreed, they will not be enough.
"Ultimately, the size of the demand shock is simply too large for a coordinated supply cut," analysts at Goldman Sachs said on Thursday.
Following the OPEC+ meeting, energy ministers from the Group of 20 major economies are set to meet on Friday.
The last OPEC meeting in early March ended acrimoniously, with Russia and Saudi Arabia unable to come to an agreement to curb output as the virus spread, adding to the slump in prices.
A source briefed on Saudi Arabia's oil policy said it is ready to cut up to 4 million bpd of its production, but only from its record output levels of 12.3 million bpd achieved in April.
Russia has said it wants output to be cut from the January-March levels before Saudi production jumped.

Posted by Awang89 > 2020-04-10 01:28 | Report Abuse

Tomorrow we will see...

Posted by mf > 2020-04-10 03:34 | Report Abuse

Oil drops 9%, giving back early double-digit gain as traders await OPEC cut details

Posted by tkl88 > 2020-04-10 04:15 | Report Abuse

Great, Dow Jones continue it’s bull run !
DJI closed at =>
23,719.37 (+285.80) (+1.22%) !

Posted by JoshuaMS7 > 2020-04-10 04:55 | Report Abuse

Oil price crashed another -7.50% to 23 usd, why wti crashed so much after deal? Any idea?

Posted by JoshuaMS7 > 2020-04-10 04:56 | Report Abuse

Brent crashed another - 2.80% to 31 usd after opec+ announced to cut production for 2 months! Why it drop?

Posted by Legend > 2020-04-10 07:25 | Report Abuse

take your money...faster

Posted by tkl88 > 2020-04-10 07:29 | Report Abuse

Oil producers agree to cut production by a fifth
* 09 April 2020 Business

https://www.google.com.my/amp/s/www.bbc.com/news/amp/business-52226236

Opec producers and allies have agreed to cut output by more than a fifth to counter the slump in demand caused by coronavirus lockdowns.
The group said it would cut output in May and June by 10 million barrels to help prop up prices. The cuts will then be eased gradually until April 2022.

Opec+, made up of Opec producers and allies including Russia, held talks on Thursday via video conference.
Talks were complicated by disagreements between Russia and Saudi Arabia.

The group and its allies agreed to cut 10 million barrels a day or 10% of global supplies. Another 5 million barrels is expected to be cut by other nations.

It said the cuts would be eased to eight million barrels a day between July and December. Then they would be eased again to six million barrels between January 2021 and April 2022.
Oil prices slumped in March after Opec+ failed to agree cuts .

In the wake of the March meeting, Saudi Arabia and Russia moved to boost production in order to retain market share amid falling global demand.
That, together with the collapse in demand for oil amid the coronavirus pandemic, help to push oil prices to 18-year lows by the end of March.

Prices have recovered some ground since then. Last week, prices jumped 20% after US President Donald Trump said he expected Saudi Arabia and Russia to end their feud.

Thursday's talks will be followed by a conference call on Friday between energy ministers from the G20 countries. It will be hosted by Saudi Arabia.

Kirill Dmitriev, head of Russia's wealth fund and one of Moscow's top oil negotiators told Reuters: "We are expecting other producers outside the Opec+ club to join the measures, which might happen tomorrow during G20."

The US has not committed itself to any cuts although it did say that its oil output was gradually reducing anyway due to plunging oil prices.
President Donald Trump had warned Saudi Arabia that the US would impose sanctions if it did not cut oil production.

Posted by Plantermen > 2020-04-10 07:34 | Report Abuse

The slump in oil prices has hurt all producers. US, Russia 1and opec feel the pinch

Posted by RedEagle > 2020-04-10 07:36 | Report Abuse

The UAE has received an invitation to participate as an honorary guest in the G20 Energy Ministers Meeting, which will be held remotely on Friday, April 10, the Ministry of Energy and Industry said.

Posted by JoshuaMS7 > 2020-04-10 07:47 | Report Abuse

Buy on news, sell on rumor!!

Posted by Legend > 2020-04-10 08:03 | Report Abuse

Take your money...

Posted by ashrafashari > 2020-04-10 08:08 | Report Abuse

the OPEC+ meeting has yet to conclude after more than 10 hours

Posted by Lucky88 > 2020-04-10 09:30 | Report Abuse

wait for LOWER prices...........Ha..Ha..Ha.....oil will drop more.......

Posted by lancefire > 2020-04-10 09:47 | Report Abuse

It's the perfect storm. I would think that it's a good time to buy now, regardless of the opec deal.

Posted by Mabel > 2020-04-10 09:55 | Report Abuse

Thanks to the profits from my Barakah trading yesterday, collected another batch of Armada and Velesto today...

Buy on Dips Sell on Momentum.

Meow..

Posted by flyover2 > 2020-04-10 11:15 | Report Abuse

..but barakah hasn't move... unless the 2 sense is the peak? ..hahaha matai lh

Posted by Lewis Lee > 2020-04-10 12:12 | Report Abuse

Every oil investors & players are waiting nervously for the outcome of OPEC +++ meeting !!!

Bark ! Bark ! Bark !!!!!

Posted by JJchan > 2020-04-10 12:17 | Report Abuse

those 30mil parked at 0.170 is being pull-down / sold-off just now.....next week good time to collect
if no more--"accidents" by Opec+

Posted by Mabel > 2020-04-10 12:28 | Report Abuse

@flyover2 ..but barakah hasn't move... unless the 2 sense is the peak? ..hahaha matai lh
10/04/2020 11:15 AM

Those that has collected higher, your option is to average down if you have extra cash. Never use margin..

Price fluctuations is part of the playing fields. All you have to do is to react to it.

Capitalising on this volatility, I collected alot of Barakah shares dirt cheap at 1 sen when many were panic selling, yesterday I sold at 2 sen. Make Handsome profits and retain some holdings as I want to be part of their turnaround story just like what Armada and KNM faced last year. Silent Mary Barakah which is my weakest PN17 Battleship has now turned into a positive and profitable venture.

Now I just have to wait for the Regulation Plan promised by the CEO. Barakah has registered positive QR recently.. Once they announce the Regulation Plan, it will rocket like my Royal Fortune Icon..

Like always, it's your call. You decide what's best for you. Those who has not enter, please continue to stay on the side lines and keep cheering for us. We certainly need some cheering during this volatile period..

Meow...

Posted by flyover2 > 2020-04-10 12:34 | Report Abuse

thks...

Posted by JoshuaMS7 > 2020-04-10 13:01 | Report Abuse

Sell sell sell!! No more waiting!!

Posted by investory321 > 2020-04-10 13:40 | Report Abuse

it will retrace to 0.12 - 0.13 range b4 rebound

Posted by investory321 > 2020-04-10 13:40 | Report Abuse

get yr fund ready to buy at 0.12 - 0.13

Posted by Mabel > 2020-04-10 13:49 | Report Abuse

Meow Meow...

Will wait patiently at 0.10 sen as I have collected enough..

Meow..

Posted by JoshuaMS7 > 2020-04-10 15:19 | Report Abuse

Gogogo breaking 0.150 today!! Yahoo!!

Posted by JoshuaMS7 > 2020-04-10 15:21 | Report Abuse

No more 0.155 buying!! Attack 0.150!! hibiscus is crashing now.. Run!!

Posted by Lewis Lee > 2020-04-10 15:28 | Report Abuse

when is the Opec +++++++++++++++++++++++++++++++++++ meeting ?? done already ???

Posted by lancefire > 2020-04-10 16:57 | Report Abuse

Lol. Joshuams7 is asking everyone to run while waiting to collect himself?

Posted by Lewis Lee > 2020-04-10 17:11 | Report Abuse

looks like we just need to wait for outcome of Opec + meeting ...
if saudi, russia, USA can reach an agreement on output cut or even bigger cut , all oil counters will shoot up !
If all parties can't reach an agreement and continue their price war, good luck for those oil investors !!
I think scenario 1 is more likely than 2, who wants to lose money ? IF oil price go down further and drag on, all oil producing countries will sink together and ecoomics in deep trouble !
and yet Trump won't let his happen and he will do whatever it takes to make sure the output cut happens quick and fast !!!! Threat to impose tariff on saudi's oil, lifting sanction against russia to sweeten the deals etc ... I help you you help me , you screw me i screw you ....

Bark ! Bark ! Bark !

Posted by lancefire > 2020-04-10 18:23 | Report Abuse

Unfortunately, general sentiment is that price is not gonna shoot up even if every opec members are cooperating (including troll mexico). Probably need to have some patience if buying in this time

Posted by Lewis Lee > 2020-04-10 21:16 | Report Abuse

Unless tonight meeting , all parties can agree to cut more-than-market-expected outputs then we will have dfferent stories !!

Posted by Lewis Lee > 2020-04-10 21:45 | Report Abuse

https://www.bloomberg.com/news/articles/2020-04-10/mexico-reaches-oil-output-cuts-agreement-with-opec-and-trump?srnd=premium-asia

See ? as I said, Trump will do anything to make sure those disagree one to agree !! by threat or by sweet !!!!

Posted by Cojack31 > 2020-04-12 10:05 | Report Abuse

Next week ready bullet. Time to collect again.

Posted by Goodprofit > 2020-04-12 20:50 | Report Abuse

On Monday prices spike

Posted by RedEagle > 2020-04-12 22:09 | Report Abuse

Reversal signal, buy back 15/4/2020?

Posted by izoklse > 2020-04-12 22:19 | Report Abuse

This is unprecedented. The event brought all together including OPEC Member, Russia, US, CANADA, NON-OPEC FROM ASIA,EUROPE, AFRICA, CENTRAL AND SOUTH AMERICA.This is going to be the biggest deal ever.

Posted by lancefire > 2020-04-13 06:42 | Report Abuse

Yes it is unprecedented and a deal has been made.
But oil futures price barely budged at all after the deal. Market is skeptical

Posted by Goodprofit > 2020-04-13 08:25 | Report Abuse

WTI already Up 4.45% @8.25am

Posted by mf > 2020-04-13 08:28 | Report Abuse

Dow futures slide 100 points as investors weigh coronavirus and oil outlook

Posted by Kopimilo > 2020-04-13 09:02 | Report Abuse

US market down, Malaysia market down, US market up, Malaysia market tortoisely creeping up, lol