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Russkies & Saudis discussion on future cooperation & need for prices much ‘higher north’. Trump is meeting Xi end of this month in Japan, hopefully we’ve seen the bottom & sense is prevailing. I have no doubt that Trump needs a deal if his going to be in a strong position to get re-elected next year.

Questor article in Telegraph ‘ PMO bonds look safe as houses as the firm continues to cut its debts ‘ Word is getting out....

In the short term why will sxx go up to 18p when it’s just been diluted 100%,? Plenty of triggers ready to be pulled which will move PMO up....

Interesting somekinda, I guess their is leeway in all the figures. POO seems sentiment driven, if you deduct outages from Libya, Iran, Venezuela, Russia contamination & Opec cuts, we are talking millions of bopd taken out of production, yet US inventory levels at very high levels. Surely inventory levels, particularly in heavier oils, are inverse to this in ROWorld. Hopefully sentiment will turn with Trade deal.

Correction CNBC state US increase production 1.6m bopd y/y. World demand increase 1m bopd.

Interesting fact on Advfn courtesy of Stan, shale year on year production is up by 2.1 m bopd. I don’t know total world production, but if you net off Iran, Venezuela & Libya it looks like shale has taken up their share, even if it’s light oil.

Evening Tom, your post made me think about how Thatcher built up the coal stocks before taking on Scargill. With the US fleet in the straits of Hormuz, maybe their is a strategic point to these builds.

Opec will be feeling the pain & their costs are less than 10 usd a barrel, at these prices the economics for the frackers must marginal at best.

Big article on Bloomberg, consensus is oil at 75 usd later this year.

Hey dadean not sure why your apologising, but pleased that you’ve done well with HUR, I think it’ll be taken over by one of the big boys, once they can see how the reservoir performs. I’m holding a much smaller position in SXX, having cleared them out after the Stg2 disappointing news, however took up OO so still got a reasonable holding at 15p. I might be bloody minded, but I’ll be damned if I will pay more than the 15p paid by the Johnny come lately’s. If SP drops below 15p, which I think is quite likely, I’ll start buying again. Best

Hope SXX in a few years can match HUR with its disruptive technology. Foil just announced by HUR great for the UK. Cmon SXX trust you can also step up to the plate in 2021.

Exactly epiphany, refiners are not setup for fracked oil & need heavier oils to blend with it before it can be refined. Must be causing headaches..

IMO build is simple, frackers are producing too much for the US market to absorb or export. Expect greater disconnect between WTL & Opec basket/Brent. There is only a finite demand for WTL

My message to you Members, is to mentally put pmo in the bottom drawer, leave this board & revisit again in 18 months. We all know that this is an asset rich company & hopefully by then you’ll be in the money, Well anyway that’s what I’m telling myself.

Love him or hate him, Trump will have a plan to help secure his re-election & I believe boosting the economy is key to it. The hangover will come in the year after his re-election. Final leg of US bull market still to come.

Not convinced about a recession on the horizon chilting. If anyone knows the mantra ‘it’s the economy stupid ‘ it’ll be trump. 2021 imo far more likely. Historically recessions don’t happen in election years, in fact the opposite.

Up & down & hopefully up more. This time last year it was looking like sp could go to £2.00. Still v happy to hold, let’s see how 2019 plays out.

IMO Trump will do a big beautiful trade deal we’ll in time to boost the markets in the run upto the elections. Opec at the very least will maintain cuts, don’t think they will want to undermine poo, regardless of Trump threats. As far as I can tell demand for oil is still growing & price will bounce up. Patience is the key.

I agree with you Kraken, it doesn’t add up, but clearly we don’t know the full story, As I keep repeating value will out.

I just got a feeling that Donnie, wants to play with his military toys, with Bolton whispering in his ear, I’d say they could justify giving Iran a punch.