Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
EIA said supercycle is a hoax, there is plenty of inventory and supply, non-OPEc members pumping like mad - oil forecast is at 55usd for H2. When Goldman Sachs and Chasse say 70USD / barrel , they mean sell at $70.
We may see a spike on Monday, has they will be in the money for the 24/25 options on ADR, the question will they short more next week. Tempted to buy today, sell on a rally Monday and see.... maybe 300 to 315. let's see how it goes this afternoon.
Quite heavy ! Not just BP but the whole sector is under attck ! remember when I mentioned short-selling last time we went down to 255 , don't underestimate their power, hold tight to your shares or be ready to top up at the bottom of the channel 275/285 , possibly 262 gap.
SU : (Vol 2.326M shares), (Short 0.769M shares )
XOM (Vol 12M ), (Short 5.715M ), (48% )
CLR (Vol 1.129M ), (Short 0.703M ), (63% )
CVX (Vol 3.363M ), (Short 1.784M ), (53% )
OXY (Vol 8.277M ), (Short 5.32M ), (64% )
CPG (Vol 0.693M ), (Short 0.314M ), (45% )
CNQ (Vol 0.664M ), (Short 0.217M ), (33% )
ENB (Vol 0.885M ), (Short 0.57M ), (64% )
BP (Vol 3.458M ), (Short 1.265M ), (37% )
CVE (Vol 1.543M ), (Short 0.978M ), (64% )
CDEV (Vol 7.627M ), (Short 4.025M ), (53% )
FANG (Vol 1.087M ), (Short 0.505M ), (47% )
CPE (Vol 1.615M ), (Short 0.697M ), (43% )
MRO (Vol 10.09M ), (Short 5.662M ), (56% )
SLB (Vol 4.484M ), (Short 1.632M ), (36% )
HAL (Vol 2.948M ), (Short 0.971M ), (33% )
RIG (Vol 12.58M ), (Short 7.285M ), (58% )
TOT (Vol 0.553M ), (Short 0.378M ), (68% )
PXD (Vol 0.859M ), (Short 0.51M ), (60% )
COP (Vol 2.865M ), (Short 0.808M ), (28% )
BKR (Vol 1.79M ), (Short 0.659M ), (37% )
LPI (Vol 0.417M ), (Short 0.181M ), (44% )
PDS (Vol 0.054M ), (Short 0.02M ), (38% )
Smithy - because you are drinking the kool-aid of Goldman Sachs. EIA ruled out any supercycle bull sh*t, inventories are full , supply is plenty, and increased demand is to be proven. The US are already supplying more oil to India than Saudi Arabia this month, China is buying from Iran. OPEC is losing market share. Anyway, the future will tell.
Smithy , EIA is predicting oil at 55 usd in h2 when all the oil producers open the valves and fight for market share . The glut in the us alone is estimated at 500 million barrels ! This super cycle is BS !
Countries like China and India are drawing down from their reserves built when oil was cheap, they are not buying at current prices, oil majors sales may not be that good this quarter (i mean volumes sold not value !) , in fact India's demand drop by 5% at the pump this month because inflated prices, EIA is forecasting in H2 55usd / barrel when production goes back to normal.