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Itold both oiluser and saurekraut and woodstock after being lets say pilloried for suggesting oil oversupply would cause a fall. I said they were wrong and time would prove my assertion correct. I love the smell or vindication in the morning, spells like .. victory. I hold pmo but i also hedged them will a sell oil cfd because i like pmo but i dont like the massive oil glut. bol all
We are certainly underestimating both the length of the current direct threat as well as the long term repercussions.
It is possible we lack both the experience and the imagination.
I’m eighty % cash holding atm ! This dead cat bounce allowed me a 15 % gain across the board which didn’t Make up for earlier losses but almost did ! And If I’m honest I cashed out two days early but catching rising knives always tricky ! As for recession !!! I called it a Depression ! And that’s an understatement ! Thus will be brutal and I’m staying cash rich with a reverse etf short trade fund holding on the ftse ! People still often forget that the US is one if the most self sufficient country’s on the planet ! They can and do make grow mine everything they need fir the most part ! But without American consumption the world China India Russia will be routed !! Shoot if the US decides to default on debt and devalue the dollar what then !? Oh yeah the world goes back to the post war era ! Post ww1 that is :) enjoy your holdings but remember your holding smoke ! What’s the use of wealth if there is no travel no luxury and no freedom ?? Enough now I’m bored of stupid greedy blinkered view points I’ll be back to spend after the depression good luck almost all !
What is a trillion, anyway?
Again agree with oil abuser.
Funnily enough there are 3 upticks, not necessarily because they do or dont agree but they know that there are 2 sides to every **** show. And £2liter oil is maybe what we deserve for our unrelenting and unwavering efforts to shape everything how we see it. One size dont fit all tavarish.
Hows your 88 holding?
Let's see who evaporates first, the fact that the US is threatening tariffs and already proved worthless sanctions says it all. The system is cracking, it's been on the cards for years. The US will come out of this debacle with 30trillion debt and debt to GDP ratio of 125%. Up there with the other insolvent nations of the world.
Oil will still be the most traded commodity in the world. Russia will trade with India and China and the dollar wont be the settlement currency as its heading to the shxtter.
Only thing I give a rats arse a out is what my shares do, if they are at 10p next week I will double up. If 15p i will at 50% etc like the good little capitalist that i am. Blood in the streets and all that malarkey.
The fact i can see the other side of the argument means I get a better understanding of the world, the fact you see only your side cripples you somewhat because you are not prepared for the challenges.
Recession coming, that's a gross understatement. Recession is here. More likely its gonna have to have a new terminology because this is unprecedented. Inflation going to shoot up, dollar gonna drop and oil going to rise.
Das va danya tavarish
Hey agree with oil user it’s a free country ! Unlike Russia lol but if oil collapses or if that collapse results in and entire industry being lost! Any semblance of energy security for Britain and Europe being wiped out and £2 a litre plus at the pumps it’s all good because putin exposes western hegemony whoop ?? ?? lol and why I ask are these Russia lovers not wearing bearskin hats and drinking vodka with their comrades ?? Because they want what the west offers but still whine about how they get it !!!
Moscow Central working overtime today
Sorry did I say trumps wasn’t unstable ?? Don’t put words in my mouth comrade lol dang a capitalist commie that’s as rare as rocking horse droppings lol putin will care when demand is so low Only China’s reserve tanks are buying and Saudi had offered 8$ discount to China ! Putin is popular ? Yeah papa doc and amin was too until they were dead ! Dictators often have good ratings because it’s life threatening not to like em lol so this is my opinion comrade ya dint like it fair enough but watch this space the depression is coming and if Saudi, other Middle Eastern countries and Norway’s sovereign wealth funds are struggling Putins Russia’s will evaporate fast!
Agree with oilabuser.
Your unstable if you think Putin is unstable and trump isn't.
Putin couldn't give a rats arse if trump levels tariffs on SA oil, Russian oil will find a home in China or etcetcetc. Trump played the ultra polarized planet card 3 years ago, and in doing so hes brought about more division than since the second world war. Putin, plays a long game and the fact he seeks to exploit the divisions created by us foreign policy is only because there are cracks opened by the us and tbh what does Putin owe us. Since 1945 its been the idea of every administration and western govt to attack Russia at every opportunity. Roll on 1990 and the capitulation of the old SU but that wasnt enough and the encroachment on its borders has been incessant. Why? Dont give me the horse**** about freedom and democracy. What ******. In 1990 the west and in particular the us thought they were going to go in and pillage the fkn place like they want to do with vz, Libya, Iraq, Iran but along comes Putin to replace the schizo Yeltsin and its game on again.
Putin is clever, popular and he exposes the western hegemony for what it is. Actually he doesnt, he sets the stage for these fkrs to expose themselves.
Anyone with a notion that Trump or US is acting on their behalf are deluded.
US can cut 5 mbod and that will support oil prices and place them in the same league of price fixers as all comers Russia and OPEC. What a turn for the books.
Everyones jumping the gun regarding production cuts, wait until the G20 meetings finished and then judge, either way were in a far better position than we were 2 weeks ago!! Fortunately Premier have the liquidity to see them through this period though no doubt its hurting.
sorry my pc glitched thought id lost my post so wrote it again my bad.
Its not enough ! This is about to become a depression !! If the production continues there is a real chance the world loses forever many older wells if they are forced onto mothballing once reserves are full! If that happens on a significant scale and if for instance a war breaks out because of tensions then 100$ plus oil could arrive just as the world economy begins to recover. The us is the world largest consumer and have the right to place tariffs if they so choose and i think a three year relatively predictable oil price is something the world could do with right now. Also not only the USA but Britain Canada Norway and many in middle east want a better oil price before a whole industry dies. The demand reduction shock is massive and cuts wont stabilize the price because there is no demand and Putin is unstable. This mechanism for three years will allow forward planning, insurance,underwriting and allow he world to recover from this depression.My view only obviously but there will be no global recovery until A herd immunity or be vaccine and virus's mutate! so vaccine will only help to a degree.
its no where near enough though. At any other time id say market forces yada yada yada However, this is far from normal and if the world loses a large chunk of oil well because of forced mothballing we will face or could face $100 plus oil five years down the line. From a US point of view they are by far the biggest comsumer and they are with their rights to set tariffs if they wish! Anyone crying foul should just remember the opec cartel holding the world to ransom on multiple occasions!!! For now this is about to become a depression ! a three year stabilizing factor such as the one muted by the piece could be the difference between a three year recovery or a decade long depression. All imho etc. And Britain Norway Canada and many in the middle east all want cuts because $5 dollar oil is a distinct possibility if a second wave hits the far east and once reserves are full !!
The US and ony the US is crying to OPEC to CUT
instructing the cartel to act, they have. Now it's up to the rest. I think there are some real smart chappies in the meeting room yesterday. They offered 50% of the required cuts and they produce 40% of the oil consumption, it's now on the US and others to find the balance between them. Will they?
I f you read this piece The us could in effect, control the oil price in the short term to protect the industry as a whole ! opec has held the west to ransom for years and as the biggest consumer by far this move would be very effective and revenue stream for us treasury AND prevent the Saudis and Russia from holding the world to ransom with their piiiissing contest. Give it a read its very smart. Or you could just say BOOM nest week whichever your trading strategy lol
https://oilprice.com/Energy/Energy-General/The-Cheapest-Way-For-Trump-To-Save-US-Oil.html Put a sunset clause of four years on it if it bothers free marketeers