Member Info for AlfaMale

Iraq’s Ghadhban: reiterates commitment to the agreement. Has today actioned cuts in production and export levels. September levels will be significantly lower than August. More cuts from Oct 1 on path to full conformity

Nigerian oil min: before now there was a degree of non-compliance. Committed to fully comply from October, and cut non-compliance by 50% this month

OMAN OIL MIN: DEEPER CUTS MAY BE DISCUSSED IN DECEMBER

ALL NATIONS AGREED TO COMPLY WITH CUTS

THE OUTLOOK IS NOT VERY GOOD FOR 2020

Those numbers are clearly a reason to drop the crude price.

LOL

Presumably this was the ADVFN post?

10/9/2019 23:31

Lots of talk ....I am hearing BP are very intrested in Z but need to raise there game but also 8 other parties.....thinking a little bidding war going on......other people know what I know hence price rising as my info well second handIf I am hearing thid other people must be getting rumour.....am hearing 600 plusAll fictional and only hear say so all bollicks proof in share priceI am not buying tomorrow I bought my lot weeks ago and said maybe on first whisperPapers will get second whisper soon

Hi MrEMC2, I bought back in on Monday. Spent too long sitting on the fence expecting a pull back. The breakout of the April downtrend channel over the last few days was the buy trigger for me. Good luck.

...don't mention the Donald!

https://uk.reuters.com/article/column-russell-crude-asia-idUKL3N26218H

Bladesman,
Yes, thank you, I was actually addressing the newbie Nickel_Investor.

PS. Anyone seen the Ferret today? Perhaps he had a little too much Taylor's last night?! lol

"read the FT", "read the FT".

(thanks Bladesman)

What does the FT article tell us that we don't already know?

Crude -7.2mln (exp. -2.7mln, Prev. +0.401mln)

Cushing -1.4mln (exp. -0.980mln, Prev. -0.238mln)

Distillate +0.6mln (exp. +0.1mln, Prev. -1.2mln)

Gasoline -4.5mln (exp. -0.8mln, Prev. -0.877mln)

Bit more about it here:

https://www.marketwatch.com/story/stock-futures-drift-lower-put-sp-500-in-danger-of-back-to-back-losses-2019-09-10

The U.S. stock market is undergoing a major rotation into so-called cyclical industries, a move that will likely invoke plenty of volatility in the very near future.

As analysts have noted, a potential change in leadership from technology and defensive stocks to commodity-sensitive industries may have begun last week.

In this environment, investors can expect capital outflows from information technology, utilities and consumer stocks in favor of energy, materials and industrial names.

https://www.ccn.com/dow-rally-evaporates/

What Bolton’s exit means for the oil market

https://www.cnbc.com/2019/09/10/what-boltons-exit-means-for-the-oil-market.html?__source=sharebar|twitter&par=sharebar

Doesn't look bullish to me.

Are you looking at the chart upside down?!

Or someone has got wind of the API numbers early as usual, and it's a build... watch this space.

What a count!!

It is the oil price which is driving this.

Oil has broken out above it's recent downtrend channel.

The question is whether it will sustain this move, or something happens to knock it off track. The Saudi's wanting $100 / barrel should help sentiment.

Watch for API numbers later today. See what starts happening to oil a few hours before the numbers are released, as the (unpunished) inside trading will tell you whether it's a draw or a build.

Iraq oil minister: "no one can tell me to comply" about oil production cuts

Shale in downturn?

Production is growing. pipelines are being completed.

You mean the smaller shale players going bust?

Their wells will be hoovered up by the bigger players.

Geo will know more.

Don't the US already have 'control' with the highest amount of production currently?

There won't be a glut if Saudi's convince OPEC to keep cutting.

Although Trump won't want the oil price too high, so might pump excess to calm any price rises induced by OPEC cuts.

Iraq production increasing all the time.