The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Conflicting reports Daily.....Get the facts then tell the News.... U.S. West Texas Intermediate crude oil futures trading at their highest level since September 17 on Friday. The market is also in a position to finish about 1.30% higher for the week. That’s a pretty impressive number because just two days ago, crude oil was trading about 7% lower.
Oil Bounces Back On New Round Of OPEC Rumors
Interesting article in that the it states that the rig countd is down further and goes onto say that is the lowest since march 2017. Down 206 this year.
But production is at an all time high?
Has the USA improved the drilling effeciency that much, I thought shale fields depended on more consistant drilling to maintain field production.
1. Could we be looking at peak production
2. Is this further indication that production numbers getting manipulated to introduce price volitility?
3. Add Trumps tweets on trade negotiations and his ability to influence.
The Oil men in the USA are making fortunes and have more control over the economics of oil and countries than can be remembered. With no /limited military intervention now required.
https://www.google.co.uk/amp/s/oilprice.com/Energy/Crude-Oil/99-Oil-Rigs-Gone-And-Counting-Rig-Count-Falls-Again.amp.html
Rgds Sft
Orrible thought, but agree looks like market is tightening. Wouldn’t be surprised to see high 60’s within the next couple of months.
Some of you guys need to get a room! But yes, this share is on the UP!
Thanks TR , big hug back but massive blue tick to Geos post as well. Very bullish Zama and more importantly debt at more than likely lower than $1.5bn ( lower due to conservative nature of the company’s estimates) puts PMO on the front foot come January. Refinancing should be a doddle this time....;). Yet another reason why I struggle why anybody would be short here. Not a safe trade....ride on time for Whitebox....,,not long til year end....
Plebleens, thanks for your insight, you always have a good thought process and I always respect your opinions and value your posts. It gives me hope that when the price was rising recently, there did not seem to be any algos hitting the sells, like often it is and it went up and stayed strong. The last couple of days, they seem to be hitting again, but I think once the companies & algos move on to somewhere else (whoever it is that is creating the main negative effect) this SP will fly and that's what keeps me in.
Have a good weekend Plebleens.
I’m more of the opinion that it’s Whitebox getting out, who haven’t adjusted position since August. With the current tightness in the Brent curve and max European refinery runs, and desire for sweet crude processing ahead of IMO 2020doesn’t feel like holding a short in North Sea dominated Oiler’s is that clever at the moment. Russian export programs are lower and physical premiums are very strong at the moment. White box are experts at getting out what they want so the suppression no doubt continues . ...but positive they have started to cover no matter how small
If I held a dominant position like Baillie Gifford, surely wouldn’t take much buying pressure to get the shorts shifting a little quicker....?
G.Sachs Holding Notice out now, so explains (in my book) why the last couple of days, the SP has struggled to gain momentum, especially on a rising oil price to over $64.30.
And while they making good money, why would they stop ? Will it be Zama sale ? Lets hope so !
Have a good weekend all.