RE: Personally I can't see why Brent is not under $10 (TEN)30 Apr 2020 17:19
Couldn't agree more. Sold majority of my PMO this morning at 33.3p and intend to reduce risk going forward. May go back in if price falls back to lower 20's and hope for 20% profit etc etc. I can't see demand being restored to anything like previous levels for at least a year. Air and Sea transport is done for 2020 and even when demand starts picking up, Saudi and Russia together with OPEC will quietly increase production hence prolonged period of low oil prices. And all that is before any allowance is made for the vast amounts of stored oil around the world.