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Now I'm a deramping man
Amazed at what I am
I say what I think, that the company stinks
Yes I'm a deramping man
When we meet on the local Board
I'll be voting with them all
With a hell of a shout, it's "Out brothers, out!"
And the rise of the company’s fall
Oh, you don't get me, I'm part of the shorters
Until the day I die, until the day I die
As a repambing man I'm wise
To the lies of the company spies
And I don't get fooled by the government rules
'Cause I always read between the lines
And I always get my way
If I short for a higher way
When I show my chart to the LSE board
And this is what I say
Oh, you don't get me, I'm part of the shorters
Until the day I die, until the day I die
Before the shorts did appear
My life was half as clear
Now I've got the power to the shorting hour
And every other day of the year
So though I'm an investing man
I can ruin the company's plan
And though I am gross, the sight of my posts
Makes me some kind of superman
Jefff - whattttt's the MO? Sad with the O&G EPL NS - We get that -Go Join Greta, Hate BP - go block their HQ- Question why HBR - Not other NS Oilers in a worse state. Methinks - Paid de-ramper - Sonny Not normal for this when the SP is already hammered. Can we trust Jefff ??????
Common sense JK, China’s record $2.6tn rise in savings fuels ‘revenge spending’ hopes FT.
Chinese households are sitting atop the biggest pool of new savings in history — accumulating $2.6tn of bank deposits last year alone as strict anti-coronavirus policies crushed consumer spending.
Data from the People’s Bank of China show that renminbi deposits held by households nationwide grew in 2022 by a record Rmb17.8tn ($2.6tn), a huge surge compared with growth of Rmb9.9tn in 2021. Some of that jump is expected to amount to a one-off pot of “excess” savings that consumers will be hungry to deploy. Economists at Morgan Stanley recently forecast that China’s economic growth would be more front-loaded this year, “mainly supported by consumption amid excess savings, improving household balance sheets?.?.?.?and recovery in the job market and income expectations”. They point to “sizeable excess household savings” of Rmb3tn to Rmb4tn built up “from an inability to spend amid Covid restrictions and/or precautionary savings”. Cough.....
The point I don't get, China's 1.3bn peeps have been locked up for 3YEARS, there is going to be 1BILLION Chinese consumers acting and spending liked sailors just landing ashore with 3YRS SAVINGS ffs. That's going to boost world demand and demand for OIL. IGNORED>
Sorry meant POO $82 mistype- pratt.
POO 492 What the feck - Priced in - Brent crude futures dropped more than 1% to below $83 per barrel on Wednesday, as rising US inventories outweighed demand optimism from top importer China and production cuts from Russia. The API report showed that US crude inventories rose by 6.203 million barrels last week, much higher than market forecasts for a 440,000 barrel increase
IGNORED - robust manufacturing and services activity data out of China supported prospects for a strong rebound in demand in China. Investors expect China's oil imports to hit a record high in 2023 amid rising demand for transportation fuel and as new refineries come online. On the supply side, Russia revealed its plans to cut oil exports from its western ports by up to 25% in March, exceeding its announced output curbs of 500,000 barrels per day.
That the right balance !!! What a sack of merde. API 6m> Chinese economy - totally get it. Well played.
BEIJING, March 1 (Reuters) - China's manufacturing activity expanded at the fastest pace in more than a decade in February, an official index showed on Wednesday, smashing expectations as production zoomed after the lifting of COVID-19 restrictions late last year.
The manufacturing purchasing managers' index (PMI) shot up to 52.6 from 50.1 in January, according to China's National Bureau of Statistics, above the 50-point mark that separates expansion and contraction in activity. The PMI far exceeded an analyst forecast of 50.5 and was the highest reading since April 2012.
Thats more like it.
Read the previous RNS's and previous BBs comments, why bring that up now? EIG have been selling for +8mths, common knowledge. Swallowed up by share buybacks. In fact it was NOT Thomas but a CONNECTED party to that person. DYOR IMO GL
Hi Rookie BUT ITS BLOWN UP son.
According to electronic intercepts by Nato, Putin has sanctioned the training of Armenian troops to strike the pipelines which carry natural gas from Azerbaijan.
The plan has also caused concern among senior ministers and Nato commanders, who convened at the recent Munich
Security Conference to discuss its impact.
Azerbaijan has become an increasingly valuable source of natural gas for Europe, following the decision by the EU to wean itself off Russian supplies.
While Russia accounted for more than half of Europe's natural gas supplies before last year's invasion, that figure is now hovering around 20 percent, and dropping.
In a bid to reverse this, sources say that Moscow has authorised its Spetsnaz special forces to build up a proxy force in Armenia, where Russia has planted thousands of peace-keeping forces following last year's pause in the ethnic war with Azerbaijan.
The plan proposes an attack on the South Caucasus pipeline, which pumps natural gas from the Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to Turkey and beyond.
A second phase will see Russia build up Armenia's army to take on superior Azerbaijani troops and capture the disputed Nagorno-Karabakh region, over which both countries claim sovereignty.
Moscow is unhappy with the increasingly western-leaning stance taken by Azerbaijan, since it joined Nato's North Atlantic Co-operation Council and signed the Partnership for Peace framework document in 1994.
Crucially, it is also aware that its influence in Armenia may be waning
A senior military source said: "This pipeline intelligence presents a classic grey-zone scenario, whereby Russia achieves the disruption of gas supplies to Europe while maintaining plausible deniability.
Big Vol today +10m positions closing. GLA
Jeff sweatpea, understand the basics, SANCTIONS 1 - restrict MOST Russian exports 2. Decreasing Russian oil revenue will mean further output cuts by Russia to prop up the Oil price - with greater reliance as nat Gas collapsed vols. Won't be surprised to see OPEC and Russia co-ordinate counter to recent US SPR release. keep up. Thx
Sorry, point below omission - that's before EU embargo kicked in 5th Feb - can't wait for Feb figures.
One thing i understand about global economies is growing current account deficit borrowing adversely effect FX, Quote The Russian ruble hovered at 75 per USD in late February, its lowest level since April 2022, amid poor foreign currency inflows to the national economy. Sanctions and embargos on the country's energy exports compounded the impact of decreased international energy prices, reducing turnover for Russia's vital revenue source and limiting demand for the local currency. Lower energy sales hurt the ruble despite intervention by the Central Bank of Russia, which has been selling an average of RUB 8.9 billion worth of foreign currency per day since January to offset depressed capital inflows. Adding to the bearish momentum
January's deficit already stands at 60% of the whole year's plan of 2.93 trillion roubles and analysts expect the shortfall to widen to more than 5 trillion roubles if current conditions persist.
attributed to lower domestic VAT and income tax takings.
Overall, budget revenues for the month were down 35.1%, while spending was 58.7% higher in January 2023, at 3.12 trillion roubles, already more than 10% of the full-year spending plan.
Moscow relies on income from oil and gas - last year around 11.6 trillion roubles - to fund its budget spending, and has been forced to start selling international FX reserves to cover a deficit stretched by the cost of the Ukraine conflict.
Just in case you missed the point - schmuck.
Russia's Jan budget deficit widens as energy revenues slump
• Russia budget deficit soars to around $25 bln in Jan
• Energy revenues down 46.5%, total revenues slump 35.1%
• Spending jumped almost 60% in Jan year-on-year
• Western sanctions squeeze Russia's financial clout
• This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
MOSCOW, Feb 6 (Reuters) - Slumping energy revenues and soaring expenditure pushed Russia's federal budget to a deficit of 1.76 trillion roubles ($24.78 billion) in January, as sanctions and the cost of Moscow's military campaign in Ukraine choke the economy's prospects.
As a consequence of sanctions, Moscow has been forced to sell energy at a large discount and, although the 2023 budget is based on a Urals price of $70.10 per barrel, the average price for Russia's main blend in January was $49.48 a barrel, down 42% on January 2022
So Rookie - where exactly is the BS son?
BSL - totally agree - whatever our revenue will surge in 2024, so where is the forward looking market FFS?
Thx M1 - I read that - but the analysis misses poor hedging for 2023, in 1 yrs time YES - I agree.
Why Putin’s iron grip over Russia could be weakening
The Telegraph’s writers take stock of the war’s impact and the challenges lying in wait for Russia’s leader this year
Putin will struggle to wage economic warfare
By Ambrose Evans-Pritchard, World Economy Editor
Rookie you are such a divot FFS - thick as....
Quote'Russian state earnings from fossil exports collapsed by 46 per cent last month as a result of the G7 oil price cap, imposed in early December. Putin can still sell his oil in Asia, but the West controls 90 per cent of the maritime system through insurance and finance.
For all the bluster, the Kremlin is complying with G7 terms.
China, India and Turkey know he is a distressed seller. They are driving a hard bargain. Russian Urals crude is selling at a half-price discount of $40 a barrel on global markets, slashing the Kremlin’s main source of war-fighting rent. The G7 cap on diesel and petroleum products came into force this month. It tightens the noose further.
Putin was sitting on a fat cushion of hydrocarbon wealth and revenue through most of last year, hence the illusion of his reliant economy. He had a trade surplus of nearly 20 per cent of GDP. The budget was in surplus. The rouble was on steroids. He could fund his war without the need for austerity at home. Now he must choose.
The Kremlin budget flipped violently into deficit in January. Putin had to raid the national wealth fund. This reserve dropped from $186 billion to $148 billion (£154 billion to £123 billion) in a single month. He cannot maintain such a “burn rate” for long, even if the January data was distorted by lumpy military spending.
The Kremlin may yet be rescued by China’s post-Covid reopening and Asia’s return to the skies. This could soak up limited spare capacity in the global oil market. Crude prices could rebound quickly to the $120-plus levels seen during the last commodity supercycle
Putin might be tempted to turbocharge any oil crunch by slashing Russian output, hoping to gain on price more than he loses on volume. That could send oil to all-time highs and cause serious trouble.
But it would hurt China and India more than it hurt the West, and it would be the last throw of the dice. If it failed, he would have nothing left.
Europe survived last year’s gas war. It managed to cut use by 20 per cent without provoking a democratic revolt and without tipping the region or the world into recession.
jefff post 10:47 I think honest balanced post - happy with that carry on - don't get giddy with the short mania, it is having its day but for how long? Cheers thx. Excluded all non's