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A very nice BUY indeed 08:11 - 05/06 Buy 2500000 2.50p �62,500.00
Just a glitch had happened before
Not necessarily that 5,000,000 trade might have been reported as a Sell but looks like a Buy to me
The London Stock exchange got it spot on, a flat finish as confirmed by HL, forget sites that post the last trade as the sp: Range Resources Ltd (RRL) NPV (View Factsheet) Sell: 0.20p | Buy: 0.25p | No change LSE just quote the Mid price
�While today�s announcement lifts some of the uncertainty on whether and when OPEC and Russia would increase production, we do not view this as a material change to our bullish oil outlook,� Goldman Sachs wrote in a research note last Friday. https://oilprice.com/Energy/Energy-General/Goldman-The-Oil-Price-Rally-Isnt-Over-Yet.html
WTI might have retraced (though not the price of oil in general) but check out the 1 year chart. The current issues are specific to the US market NOT to the global position of Oil as a commodity. In my opinion WTI has not stopped its climb just retraced temporarily with short term trading. http://markets.businessinsider.com/commodities/oil-price?type=wti
Because it affects the price of WTI at the moment
Simple answer we are not using their pipelines so it doesn’t affect us. The problem is they can’t deliver their oil, we can. Clear enough for you?
The drop in the price of WTI is largely to do with US companies producing to capacity but the problem is the pipelines are full and transporting by road or rail is too expensive and couldn't handle the volumes. The global price of oil is dropping as can be seen by the widening gap with Brent Crude. It is only a matter of time before the US is forced to cut back its production as there is little point producing massive amounts of oil with no market for it. We are also just starting the driving season in America which creates a big draw on oil reserves. Just my opinion but I don't think the rise in WTI is finished, just resting, far too much negative geopolitics happening for it not to affect the POO long term.
Friday, June 1, 2018 According to a survey conducted by Reuters, OPEC oil output fell to a 13-month low in May due to declining Venezuelan production, Nigerian outages and strong compliance with the cartel�s supply-cutting deal among members and non-members. Reuters� survey found that 32.00 million bpd were produced in May, down 70,000 bpd from April�s revised figure. The May total is the lowest since April 2017, according to the survey. https://www.petroleumafrica.com/opec-oil-output-hits-new-lows/
Incidentally none of my Dutch colleagues would refer to themselves as coming from Holland but from The Netherlands. Holland is just one province so to say you were from that province rather than from the country itself would be like us saying our nationality was our county. Just an observation.
Now you see bounty why I was reluctant to answer, it had nothing to do with your questions which were perfectly reasonable but I knew the trolls would be all over my answers, regardless of what they were. I answered today to see if Delft really would deliver on his promise of posting a chart to back up his argument, he never has done in the past.
Oil price With July Brent expiring and August closing at $77.56, down only 16 cents, the differential has now exceed ten bucks for the first time in three years. WTI is a mix-up, flat to the boards where it can but pipeline capacity almost fully utilised and with no sign of that changing much for the best part of a year trucks and trains will be transport option of choice. Recent price strength has many parents, geopolitical concerns of course but genuine shortage of production are clear, in May Opec only produced 32m b/d, another fall with tightening in some Gulf countries and of course with Venezuela continuing to collapse. Yesterday�s delayed EIA inventory stats also helped, a draw of 3.6m barrels was way in excess of the scribblers +244/- b�s and with stocks drawing at Cushing even the gasoline add wasn't a concern. After all the driving season started officially on Monday and even in March good old vehicle miles increased to 268.7bn miles�������..
“I will post my chart if you answer Bountyman’s 3 questions 1st” - we are waiting Delft
1) who do you think this is massive 8 year manipulation Traders trying to manipulate the price down and some bitter ex holders2) why are they doing this... what is there ultimate goal For the traders the answer is simple, drop the price and buy on any weakness they create 3) where are their unlimited shares coming from in order to sell. Simple, traders sell a few at silly prices and buy back more cheaply, before you say it I know that take a hit on the tiny trades but it is a meaningkess amount in the scheme of things, so self perpetuating. Over to you Delft, let's see the chart.
The 5% drop on the day of the Indonesian news was due to traders profit taking on the back of the previous 18% rise as a result of the increased production ahead of schedule RNS.You will also get some that will sell on news regardless of what that news is. There was nothing negative in the Indonesian, If you look at the too figures yo will see that, as Bounty said, we were up overall. Post your chart, show us tangible evidence of how you came to that conclusion but a hint, showing the chart for one day will not prove the point.
So when I post small SELL trades I get pilloried by the thought police but its OK for Surely to post small BUYS
Morning Rex, I understand your concerns over the departure of LO but if you look at the RRDSL website it listed Waterflood Technology & Enhanced Oil Recovery as one of the services on offer so the expertise is still there. http://www.rangedrilling.com/services/
1. How does he know it�s being addressed? Answer - Because Range stated this in the latest quarterly report: `"As previously announced, the supply of injection water from Petrotrin has commenced. To increase the water storage capacity at the SE project the Company has installed an additional water storage tank. The addition of the tank has enabled the Company to increase injection rates up to 1,500 bwpd. It has been challenging to maintain injection rates at a consistent level, as the total volume of water being received from Petrotrin fluctuates throughout the day and at times exceeds the agreed amount and capabilities of the existing pump. The Company is looking to upgrade to a larger pump to handle higher volumes of water more efficiently. Once completed, this should allow the Company to stabilise injection rates in a more consistent way." 2. How does he know it�s an accumulative process which will continue to grow secondary recovery? Answer - Because that is the nature of Waterflood. i.e. "The principal reason for waterflooding an oil reservoir is to increase the oil-production rate and, ultimately, the oil recovery. This is accomplished by "voidage replacement"�injection of water to increase the reservoir pressure to its initial level and maintain it near that pressure. The water displaces oil from the pore spaces, but the efficiency of such displacement depends on many factors (e.g., oil viscosity and rock characteristics)." http://petrowiki.org/Waterflooding
1. How does he know it�s being addressed? Answer - Because Range stated this in the latest quarterly report: `"As previously announced, the supply of injection water from Petrotrin has commenced. To increase the water storage capacity at the SE project the Company has installed an additional water storage tank. The addition of the tank has enabled the Company to increase injection rates up to 1,500 bwpd. It has been challenging to maintain injection rates at a consistent level, as the total volume of water being received from Petrotrin fluctuates throughout the day and at times exceeds the agreed amount and capabilities of the existing pump. The Company is looking to upgrade to a larger pump to handle higher volumes of water more efficiently. Once completed, this should allow the Company to stabilise injection rates in a more consistent way." 2. How does he know it�s an accumulative process which will continue to grow secondary recovery? Answer - Because that is the nature of Waterflood. i.e. "The principal reason for waterflooding an oil reservoir is to increase the oil-production rate and, ultimately, the oil recovery. This is accomplished by "voidage replacement"�injection of water to increase the reservoir pressure to its initial level and maintain it near that pressure. The water displaces oil from the pore spaces, but the efficiency of such displacement depends on many factors (e.g., oil viscosity and rock characteristics)." http://petrowiki.org/Waterflooding