Posted by Nicholasming91 > 2018-11-09 22:32 | Report Abuse

They meet up on production cut, seems like they have been fooled by the US on Granting waivers to 8 Countries on Iran sanctions. ;) we will see 80 soon, if you guys are patient enough to stay here

Posted by RiverOfSilver > 2018-11-09 22:52 | Report Abuse

Quite obviously, Donald Trump is trying his damn hardest to fukk oil price down. Using bullshit US inventory data cooked up by various US agencies. But he is not going to succeed. Brent is just going to keep climbing back up.

Posted by RiverOfSilver > 2018-11-09 23:03 | Report Abuse

Trump has made another typical idiotic big mistake withdrawing from Iranian nuke deal. The Euros do not like it. While the Iranians are going to use that as their great excuse for going back to uranium enrichment.

This guy is going to get impeached, eventually. He is a big danger to his own country.

Posted by CoolBull > 2018-11-09 23:08 | Report Abuse

That OPEC-Russia is meeting frequently means that they have something cooking up. To counter Donald's increasingly vicious anti-rest-of-the-world machinations.

Posted by The speculators The speculators > 2018-11-10 03:17 | Report Abuse

QQQQQQQQQQQQQQQQQQQQQQQRRRRRRRRRRRRRRRR COMING I AM WAITING, rm1.50 for sure , not for contra player ya

Posted by B4b4 > 2018-11-10 07:35 | Report Abuse

A technical committee for OPEC+ is set to meet this weekend to consider options for 2019, including a possible production cut. Tomorrow in Abu Dhabi the meeting will be held. Lets hope Monday , oil price will start to move up. There is another Opec meeting this early December.

Posted by Nicholasming91 > 2018-11-10 07:54 | Report Abuse

Sunday

Posted by B4b4 > 2018-11-10 08:34 | Report Abuse

Yes, this Sunday , meeting with Opec + in Abu Dhabi.

Posted by paktua73 > 2018-11-10 08:35 | Report Abuse

Moment to reload when rogue wave come will arrived..
Paktua will waiting that moment..
Reach is black gold..
Missed to pick will regret later..

Tut tut
Rare to hold long but reach n dialog will hold long..

Posted by Nicholasming91 > 2018-11-10 08:42 | Report Abuse

If tomorrow good meeting, expect to rebound back to 75 in few days

Posted by Ziko Ro > 2018-11-10 14:19 | Report Abuse

Reach have been block to go up be fuel prices and condition market is not good. If fuel prices to increse Reach to be Asia Tigers !! he he

Posted by Run Bull > 2018-11-10 20:35 | Report Abuse

Oil Markets

Technically speaking we are in a bear market as defined as a 20% decline from a market peak.

But at $70 Brent are we really in a Bear market?

Indeed a record 10-day losing streak has everyone panicking while causing a high-speed reassessment of the state of global oil supplies. Taking into account that OPEC has revised down its short-term global demand outlook for three months in a row, the forecast does look bleak

But in reality, this is a supply glut, but it’s unlikely Asia’s unquenchable demand for oil is about to dry up anytime soon so prices could base. Plus as we’ve seen in the past, OPEC and allies have been able to stabilise prices during supply surplus which will undoubtedly happen this time around leaving traders to speculate on the timing for production cuts to occur

Oil falls 1 Percent, US crude on a longest losing streak since 1984 Reuters ” what a difference a month makes” Michael Tran, commodity strategist at RBC Capital Markets.

Were Iran sanctions expected to be a game changer?

For a short-term, they were going to be until market supply caught up. I recall having this exact conversation a few months ago with a highly respected local Energy Editor, where we both laughingly concluded there would be a huge run up on prices until a few weeks before sanction take hold. Only for the reality check to set in when the market realises Saudi Arabia converted the shortfall into a surplus. Remember these taps can be turned off as quickly as they were turned on.

Well, a funny thing happened on the way forum, Saudi Arabia and Russia increased production starting way back in June, while the US unofficial oil minister, “Donald Trump” may have orchestrated probably one of the best sleights of hand tricks in some time. He effectively drove prices lower by offering up far more Iran sanction waivers than expected, catching the producers and traders alike completely wrong-footed while effectively correcting oil prices back to the perceived Brent $ 65-75 sweet spot.

Never one to miss out on a press op, “We’re going to let some of the oil go out to these countries that do need it because I don’t want to drive the oil prices up to $100 or $150 a barrel, which could happen very easily,” Trump said during a press conference on Wednesday. Trump argued that prices have “come down very substantially” recently “because of me.”CNN He does have a point, though.

Baker Hughes reported US energy firms added oil rigs despite oil futures plummeting and US inventories skyrocketing. Drillers added 12 oil rigs in the week to Nov. 9, bringing the total count to 886, the highest level since March 2015. A bit odd when this metric is an indicator of future supply which tells me the industry has few if any worries about demand for oil breaking down any time soon.

Posted by WealthSoWonderful > 2018-11-10 22:50 | Report Abuse

Sunday Abu Dhabi is OPEC Joint Ministerial Meeting, with Russia in as kind of a collaboration partner. They're all pissed off with Donald Trump.

First he pressured them all to up output substantially, purportedly to cover for predicted Iranian shortfall. Then, when supply is already upped, he deliberately gives sanction waivers to eight countries who are buyers of Iranian oil, causing oil price to fall even more. Who wouldn't be angry.

Posted by MoneyAndHoney > 2018-11-10 22:55 | Report Abuse

Can't trust Trump in any deal anywhere. Fukkin sly & untrustworthy bitch, that guy.

Posted by Ziko Ro > 2018-11-10 23:12 | Report Abuse

I think meeting opec on sunday will reduce oil because trump have cheating iran sanction to lower the fuel prices to engage oil producer to increase oil production to cover sanction with iran. Now the sanction delay or cancell already.

Posted by Zhuge_Liang > 2018-11-10 23:15 | Report Abuse

Hope OPEC members agree to reduce crude oil production to stop crude oil price to decline further.

Posted by FortuneBlooming > 2018-11-10 23:20 | Report Abuse

They will. They're going to let Donald know that he does not own the entire planet..

Posted by DreamConqueror > 2018-11-10 23:37 | Report Abuse

Clubbing every night this week & next. Gotta celebrate big after a big win, of course. Right, guys?

Posted by Nicholasming91 > 2018-11-10 23:48 | Report Abuse

There will be no meeting ahead if the OPEC agrees with Trump’s move. There will be another major one in early December. More production cuts !

Posted by BountyOfTheBourse > 2018-11-11 00:25 | Report Abuse

Vienna December 6 - 7 is another regular OPEC/OPEC Plus meeting.

Earlier, an OPEC source told TASS that the December meeting would look at possible extension of production restrictions in 2019 as growing shale oil production in the United States may entail over-supply on the market.

https://www.azernews.az/oil_and_gas/138001.html

Posted by Nicholasming91 > 2018-11-11 00:59 | Report Abuse

Keep them updated with tomorrow news ya everyone . Stay strong and wish for the best !

Posted by Ziko Ro > 2018-11-11 01:11 | Report Abuse

Now big fund and shark are eyeing on this counter that have good news and maybe fantastic qtr result on fuel bisness.

Posted by B4b4 > 2018-11-11 08:00 | Report Abuse

Brent at this price is still good. Reach Energy is still making profit. The demand for oil is still great.

Posted by Franklim1989 > 2018-11-11 09:41 | Report Abuse

11/11 only using 2 minutes brick 100billion trading,tomorrow HSI and market will be good..

Posted by Ziko Ro > 2018-11-11 10:47 | Report Abuse

Franklin, also fuel climb up!!

Posted by EatCoconutCanWin > 2018-11-11 10:52 | Report Abuse

buy

Posted by Franklim1989 > 2018-11-11 11:07 | Report Abuse

MARKET very sensitive,today (electrical,good,wine,furniture,technology etc..) very bigger sell day,if break 1000billion u will see tomorrow BULL market..not only malaysia,whole world effect by this 11/11 shopping day..

Posted by ran777rpt > 2018-11-11 15:33 | Report Abuse

https://www.reuters.com/article/us-oil-opec-saudi/saudi-arabia-discussing-proposal-to-cut-oil-output-by-up-to-1-million-bpd-by-opec-and-allies-sources-idUSKCN1NG059?il

Posted by Nicholasming91 > 2018-11-11 16:38 | Report Abuse

Reach warriors.. time to rise from the dead !!!!

Posted by B4b4 > 2018-11-11 16:41 | Report Abuse

Today is Opec Technical meeting in Abu Dhabi. Come early December in Vienna is the 175 th meeting.

Posted by PresidentRotiCanai > 2018-11-11 16:58 | Report Abuse

kick the oil up!!!!

Posted by PresidentRotiCanai > 2018-11-11 17:02 | Report Abuse

ABU DHABI (Reuters) - A majority of OPEC and allied oil exporters support a cut in the global supply of crude, Oman Oil Minister Mohammed bin Hamad al-Rumhi said on Sunday.

“Many of us share this view,” the minister said when asked about the need for a cut. Asked if it could amount to 500,000 or one million barrels per day, he replied: “I think it is unfair for me to throw numbers now.”

He was speaking in Abu Dhabi where an oil market monitoring committee was held on Sunday, attended by top exporters Saudi Arabia and Russia.

"We need a consensus," he said, indicating that non-OPEC Russia would need to approve any decision. Oman is also not a member of the Organization of the Petroleum Exporting Countries.

Saudi Arabia is discussing a proposal to cut oil output by up to 1 million barrels per day by OPEC and its allies, two sources close to the discussions told Reuters on Sunday.

Posted by Ziko Ro > 2018-11-11 18:43 | Report Abuse

Good news for fuel price and Reach

Posted by WeiZian Chin > 2018-11-11 22:33 | Report Abuse

today OPEC meeting conclusion how?any result?

Posted by Nicholasming91 > 2018-11-11 22:43 | Report Abuse

Will slowly cut 500k barrels this month , dec will be fully -500k daily

Posted by gogot > 2018-11-11 22:56 | Report Abuse

good news

Posted by Nicholasming91 > 2018-11-11 23:04 | Report Abuse

But have to wait till dec to only confirm, because now is not official yet.. dec is the real opec meeting

Posted by GoldenHarvest1 > 2018-11-12 03:12 | Report Abuse

Donald Trump might succeed, albeit only to a certain extent & only temporarily, with sabotaging oil price. But he cannot stop the coming of winter to northern hemisphere, and the intensity & harshness of it. He is not that powerful.

Posted by ProsperousRealm > 2018-11-12 03:27 | Report Abuse

OPEC, Non-Cartel Partners Suggest Production Cuts To Come

Last Updated: November 11, 2018 18:38 GMT

https://www.rferl.org/a/opec-non-cartel-partners-meet-in-u-a-e-to-consider-output-cuts/29594097.html

Posted by ProsperousRealm > 2018-11-12 03:31 | Report Abuse

Donald Trump losing power

Democratic House Brings Uncertainty To Trump Foreign Policy

https://www.rferl.org/a/democratic-house-brings-uncertainty-to-trump-foreign-policy/29587470.html

Posted by CoolBull > 2018-11-12 06:13 | Report Abuse

ABU DHABI (Reuters) - A majority of OPEC and allied oil exporters support a cut in the global supply of crude, Oman Oil Minister Mohammed bin Hamad al-Rumhi said on Sunday.

https://www.reuters.com/article/us-oil-opec-oman/oman-oil-minister-says-majority-of-opec-and-its-allies-support-cut-idUSKCN1NG07S

Posted by Run Bull > 2018-11-12 06:41 | Report Abuse

https://www.cnbc.com/2018/11/11/oil-prices-saudi-arabia-says-markets-are-getting-it-wrong-again.html

Posted by Nicholasming91 > 2018-11-12 07:12 | Report Abuse

Market is not as oversupplied as you think . US for manipulating data

Posted by PresidentRotiCanai > 2018-11-12 07:15 | Report Abuse

brent oil now 70

Posted by Nicholasming91 > 2018-11-12 07:16 | Report Abuse

Brent oil havent open market weh

Posted by Totalpackage > 2018-11-12 08:06 | Report Abuse

Saudi Arabia, Russia discussing possible oil-production cuts.

Momentum seems to be growing among major oil producers to reduce output in an effort to end a slump in prices.

Saudi Arabia's energy minister said Sunday that the kingdom will reduce exports by about 500,000 barrels a day from November to December. Khalid al-Falih made the comment at a meeting of oil producers in Abu Dhabi.

Russian oil minister Alexander Novak said his country is open to cuts if they are approved by a coalition of producers including OPEC.

Saudi Arabia and Russia are the world's biggest exporters, although the United States now produces more oil, according to U.S. government estimates.

"Today's meeting is a clear signal producer countries are worried about prices slipping further in the face of rising supply and weaker demand," said Jason Bordoff, a Columbia University professor and former energy official during the Obama administration.

Bordoff said, however, that producers might not be ready to cut output yet because of uncertainty over the effect that new U.S. sanctions could have on Iranian production.

A decision is expected when OPEC meets next month.

Concern about oversupply has pushed oil prices down by roughly 20 percent since early October. The decline in prices continued last week after the U.S. said it would let eight countries keep importing Iranian oil. That eased fears that new U.S. sanctions on Iran would cause shortages and drive prices higher.

Brent crude, the international benchmark for oil, ended last week at $70.18, down 19 percent since Oct. 3. The U.S. standard, West Texas intermediate crude, was $60.19, down 21 percent in the same period.

Prices have been hurt by rising U.S. oil inventories and fear that trade wars could contribute to slower economic growth, which would reduce demand for energy.

Even with the slump, however, oil prices are still higher than they were a year ago.

Posted by Nicholasming91 > 2018-11-12 08:37 | Report Abuse

We will sta between 70-80. 80 above is pricey at the moment ..

Posted by TingDong > 2018-11-12 08:44 | Report Abuse

https://www.thebalance.com/oil-price-forecast-3306219

Posted by B4b4 > 2018-11-12 09:03 | Report Abuse

Oil price up by 1% today after Opec agreed to cut production soon.

Posted by B4b4 > 2018-11-12 09:04 | Report Abuse

Crude oil is a very important commodity which can be converted into hundreds of other products.