Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Market does not obey to wishes. Market is overbought and the January rally was not justified, and now the market is correcting, indictators were flashing red. More down days until we close gaps. Regarding OPEC , they are snakes, they are likely not compliant to their own cuts and they will get caught one day or an other.
Jwd222 - Today is OPEC's compliance report, based on independent report (bellow) OPEC could be 75% compliant only , and pumping millions of unwanted barrels per day - negating Saudi's cut. Lets see what they come with, oil rised on a shaky basis (overbought), and wont hold at the first sign of bad news.
https://www.reuters.com/article/us-oil-opec/opec-oil-output-cuts-compliance-falls-to-75-in-dec-petro-logistics-idUSKBN29H17S
Numbers don't lie, demand at the pump is 50% bellow to what was expected a - it is a muted response at best. I have 1000 barrels of crude at $33, waiting for $60, but I am realistic oil is overbought and may have to come down a bit, like BP's SP.