Not in the least old chap,I am the very essence of peace and tranquillity at this moment in time!
Gulf Daily News today reports Saudi crude supplies in Sept fell by 328k bpd to 9.36mm from 9.688mm in Aug. Saudi power gen. use in Aug fell to 769k bpd from 899k bpd in Jul due to cooler weather. Saudi has told other OPEC members it is not willing to cut crude output unilaterally only collectively - which of course won't happen. Saudi crude exports fell in Aug to 6.663mm bpd for the fourth month in a row to their lowest in three years. Sept figures are awaited. Saudi exports are expected to remain at about 6.9mm bpd over the winter months. Saudi has been very quietly signaling to its main Asian clients that it is comfortable with prices below $90 in order to hold market share but that is for Saudi 28api blend which usually sells at $5-6 below Brent. If so Brent should be at $90-92 quite soon. Sorry if that upsets Nipper 22 again but thought it may perhaps interest other readers.
personally I believe the 3d results are what will give the price the initial kicker,this travelled up to 33 on their expectation not so long ago. considering theyre expected in Nov,looks like theyre going to used to kickstart the price action. 3D ...rig mobalisation.....spud...... all we need is that oil price to run up to 90/95 towards the end of the yr as predicted by some analysts and it should all come together dandy. few weeks left and we could start getting busy imo. gla
A more conservative assumption
Murray, I have assumed for a long time now a more conservative timeframe for commencement of drilling because, as you rightly imply, many factors could cause a delay. I expect a Q2 start and I will buy-in further if and when an RNS comes out in the new year outlining a revised schedule for drilling. `That said, I will be very happy if I am proved wrong and drilling commences in Q1.
RE: Eegbvi, offshore drilling
Thank you Murray,Eegbvi has portrayed himself as the Oracle for a long time on this board.Your post exposes the flaws in the persona that he has created.Eegbvi,I give you credit for acknowledging that you have been corrected by someone who is in possession of the relevant data,even though,when the facts had been presented,there was really no alternative.
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