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Jay, I'm not going to get into a debate regarding the use of the word deficit. LOL
Its clear you are basing your target price and outlook on nothing more than the fact that the SP has been at 55p before and the American led investment are press pushing the bear market theory.
Only saving grace is that as you don't have enough belief in the theory to short oil or oil stocks you will not get burned with the rest of the misinformed sheep who actually did have the b@lls to follow through on their instincts.
I honestly don't like seeing any investor or trader lose money, long or short.
You should have just created a profile called target 55.....its desperate and getting old.
MT,
With all due respect, that's nonsense.
You stated "what is the current global supply / demand deficit?", however there isn't a supply / demand deficit for oil, there's a surplus hence the builds in crude. I can't explain it any simpler for you, the figures are in the OPEC monthly report.
And if you want any more substance that PMO / POO is going down look at the share price, FF5.
GL
Target 55p
Jay, deficit can go either way, supply deficit, demand deficit.
PS. It was a rhetorical question. I knew the answer before I asked. I was just trying to gauge if there was any substance to your never ending claims that POO and PMO are going down.
Obviously not.
GL
Out of interest what is the current global supply / demand deficit?
MT, it's not in deficit, supply is greater than demand with the situation expected to worsen in 3Q. Opec are hoping to rebalance by the end of the year 4Q.
Take a look at Opec MOMR June.
GL.
Target 55p
Personally don't think this will see 55p again this year but good luck to you. If it does I will average down. I have taken a few positions in oil Co's but do still have a hedge in some Gold Co's. Worked well for me in the past.
Out of interest what is the current global supply / demand deficit?
MT, I agree look beyond the headlines, look at global trade, freight is down year on year. The markets are slowing while US oil production continues to increase, POO is down reflecting this, the Iran risks are doing little to sustain the decline. Until POO bottoms out it will continue to take PMO with it.
GL
Target 55p.
Jay, look beyond the headlines. Dig a little deeper into the facts. They are all there. For example, how much Crude and other oil products so the US imports and export each week. Are they net importers or exports. How does this effect the global market.
Easy to report a build in oil reserves if your buying it in and easy for the press to jump on the headline "EIA reports another unexpected build" when in fact the US production didn't even keep up with US demand that week. More to it than meets the eye and IMO the uneducated traders out there will get burned badly.
Balanced?!?!
EIA are reporting builds almost every week.
The Saudis are hoping balance by the end of year, assume that's with continued OPEC cuts?
Drawdowns would be typically expected in the summer period but there's builds, what do you think will happen at the end oc the summer driving season, hope am wrong but I'm expecting the situation to worsen.
GL
Target 55p
IMO, anyone shorting oil stocks must be mad. If you look beyond the Fake News, inventory builds etc. etc. supply and demand is pretty balanced at the moment.
IMO, it won't take much for the supply side to be disrupted, as the incident in Strait of Hormuz shows. Any meaningful supply disruptions will see shorters burn bad.