Posted by Datuk Seri Rick Walker > 2020-03-08 13:52 | Report Abuse

Yeah, double whammy for Malaysia! Since we have sleeping PM on the job, i am afraid he will spend most of the time playing politics and nothing else!
You see, not only our palm oil in ruin because of Mahathir but since Mohiden took over, nothing has change!
And worst still oil price will hit lower in coming days as Opec and Russia will most probably will go on price war!
Forget about those oil stocks! Better dump your Dayang, Hibiscus and everything else! Yeah, clearing my oil stocks tomorrow!

Posted by gohkimhock > 2020-03-08 14:05 | Report Abuse

I am in the opinion that tomorow (9/3/20) will see the crash of oil stocks in Bursa amid a 10% plunge of oil prices in world market.

Posted by Datuk Seri Rick Walker > 2020-03-08 14:11 | Report Abuse

Do you know EV is making new normal now! It won't be long before most develop countries will be on EV! Oil will only get lower! And worst Malaysia oil export already in sunset mode!

Posted by jackfruit > 2020-03-08 15:24 | Report Abuse

Opec and Russia just want to wipe out US Shale oil companies whose debt more than 200billion. It will be very interesting to watch oil prices next week. Survival of the fittest.

Posted by ahbah > 2020-03-08 17:23 | Report Abuse

“In short, Covid-19 is in the midst of an international offensive and the worst effects are yet to be felt.

Global oil demand destruction is therefore poised to intensify.”

Posted by TrippleZ > 2020-03-08 17:45 | Report Abuse

No eye see

Posted by Jarklp > 2020-03-08 19:31 | Report Abuse

Indeed, it is about the survival of the fittest.

US Shale oil has been taking a free ride from Opec. Opec members are cutting production to support oil price while US shale oil companies pumping up their production to capture the market.

Posted by Datuk Seri Rick Walker > 2020-03-08 19:33 | Report Abuse

Yeah, US shale oil really enjoy riding on Opec Russia oil cut production! Not anymore! Now it's open market, jaw dropping prices! Even you and i can buy a barrel of crude oil! Buy one free one soon!

Posted by Sslee > 2020-03-08 19:41 | Report Abuse

Haha Datuk Sri,
No worry, when it hurt US shale oil President Trump will just call up Saudi to cut oil production and tell Putin if you want me to be President again you better cut oil production. So problem solved.