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"The actual cuts that will be announced from current production levels (not October 2018) are expected to be more than the 15 million bpd #OOTT" Amena Bakr.
An interesting weekend for the meetings. See what the final decision is soon. Aramco delay their price decision for another day due to Saudi need more negotiation time with producers.
Haha I wish. Anyways some positive views.
Wood Mackenzie’s Ann-Louise Hittle said a 10MMbpd cut would be “very supportive� of price over the second quarter. “Even a 5MMbpd reduction would see oil prices in the low $30s. It would ease pressure on storage and stem the steep price collapse we saw in March,� Hittle said in a statement sent to Rigzone. https://www.rigzone.com/news/opec_confirms_production_cut_details-10-apr-2020-161719-article
LOL and here's me thinking you have friends in high places Ammu
Never mind the last post lol
Parody account lol
Just got off the phone with President Trump and representatives from Saudi Arabia and Russia. We had a great conversation. I’m proud to announce that we came to a formal agreement.
The United States will formally agree to a 5 million barrel per day oil production cut. #OOTT
Atleast I am hoping the deal puts a floor on Brent at 32.
Hopefully see 35 on Monday and stay in the 35-40 range. The problem for US is at 25 wti shale is bankrupt....
At 35 Brent we are making Monday should be in 20’s atleast lol shows how undervalued rre is at current poo.
Mexico president : Yesterday I spoke with the president trump about of the reduction of the production and we reach and agreement to reduce only 100 (not 400) and the US will be reduce the other part of Mexico’s share #OOTT #opec
That is Amena Bakr's tweet. I don't know if you can edit, but the maths works.
Interesting. The drop of oil price during the opec meet could well have been with mexico not agreeing, therefore the deal was not finalized.
Now it seems to be full agreed. See what sunday evenings prices throw out.
"Call me a stickler but 100k + 250k does not equal 400k! ..."
Try checking down the back of the sofa IANAA ... Yes, I noticed that, guess Canada maybe took up the slack, who knows .... or more probable Trumps math needs working on. .... At least it's not fake news ..... I hope ! lol
Call me a stickler but 100k + 250k does not equal 400k!
Also, if the USA is cutting at all 250k is meaningless.
The interesting part is the overall commitment from the US, the price of oil is in their hands. I think OPEC played it well to decide first, then it's down to the US to cut to support its own industry.
Amena Bakr
@Amena__Bakr
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20m
From the G20: Canada and the US have agreed to support the Opec plus cuts #OOTT #opec
Amena Bakr
@Amena__Bakr
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51m
Mexico’s president said that the US agreed to cut 250k on behalf of Mexico. So Mexico will cut 100k and the US will 250k #OOTT
Amena Bakr
@Amena__Bakr
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59m
Mexico president : Yesterday I spoke with the president trump about of the reduction of the production and we reach and agreement to reduce only 100 (not 400) and the US will be reduce the other part of Mexico’s share #OOTT