My guess of RNS was today was wrong ,but I still have have Monday 18 April Black rock you are down for the 25 April Any one fancy a guess Lots off good research on this site today I feel it will be multiple news with massive upside .patience is key .
Dohar meeting on 19th to stabilise oil price. Four former Fed chairman's and Jan Yellen met last Sunday. Then during week Obama and Vice Biden met Yellen. Queen to be visited by Obama then he's off to visit Saudi King. This week 3 other fed meetings take place. Austrian bank had a 50% bail in on Monday. Italian banks had government emergency meetings on Monday. Chinese met Saudi King and so has Putin add to this another BRIC member, the South African President. Something big is happening. Plus the US has moved B52 bombers to the middle east.
By Brad Beago Posted on Thu, 14 April 2016 20:39 | 2 The headlines reacting to OPEC’s April Oil Market Report generally read “OPEC concerned about global oil demand” and as such, oil prices traded down slightly on April 13, despite an overall positive market.
Well, I’m concerned about global oil demand also, so I thought I better read their report. Clearly, the commodity never performs well in the face of stagnant or shrinking economic activity – no commodity does – in fact, nothing does. Except maybe alcohol sales. In any case, I am concerned with exactly how worried OPEC was about global oil demand and by extension, global GDP growth. Guess what? It turns out that despite the green lobby’s insistence, world economic activity is strongly reliant on hydrocarbon consumption and vice versa.
Anyway, what I found in the report was not so much concerns about GDP growth in various regions of the world, although these are expressed and reviewed, but rather the underlying prediction of a massive rebound in oil and gas activity during the second half of 2016! By extension, for non-OPEC production to rebound, the cartel must be assuming much higher oil prices beginning, well, about now.
Is this foreshadowing that a big production cut deal will come out of the Doha Qatar meeting this weekend? Probably not. In any case, I keep thinking, what if OPEC told us oil prices were going up sharply, but they buried the news deep in an 85 page report and nobody noticed?
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Maybe they did. However, the fact is OPEC did not mention surging oil prices or sharp increases in exploration and production activity in their report, but they implied it. As subtle as the implications were, those commentators that managed to read only the first page summary of the report failed to grasp its true meaning. But in fact, to make the numbers add up, the only explanation is that OPEC is very bullish on both oil prices and oil service activity. Let me explain.
First it’s necessary to set the backdrop by reviewing oil and gas fundamentals at a 50,000 foot level. Overall, OPEC is expecting that global growth in oil demand (really all liquids demand) in 2016 will average 1.2 million barrels per day (mb/d). That is, demand will average 94.2 mb/d vs the 93 mb/d average in 2015.
These estimates are pretty much in line with other analysis like the IEA’s Oil market report (95 mb/d) and represent a slowdown in growth from the 1.5 mb/d increase seen 2014 to 2015. Demand growth is predicated on a global GDP growth rate of 3.1 percent vs 2.9 percent world GDP growth rate in 2015.
Why OPEC estimates stronger GDP growth but slowing oil demand growth is another question altogether. Setting that aside, OPEC notes stability in first quarter PMI numbers in the U.S., weak, but respectable numbers in Europe and Japan, improvin
Whilst we are waiting ,Any one fancy a bit of fun on next RNS date ,you can have two dates closet one wins . I'm going for tomorrow 15.04.2016 and 18.04.2016 . Place your dates gents and ladies .closest wins
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