Member Info for EmeraldCarrots

On the good side it could go up 100%.............................. to two cents.

a barrel. Am I going mad?

and when I say usually I mean for many years. So with WTI @ $10 and Brent @ $26 how is this going to pan out. Brent I know is slightly more valuable as it can be used to (more easlily) make a wider range of stuff. However the thought occurs to me that WTI is likely to be bought instead of Brent to make certain products now we have a massive price difference of $16 a barrel. I fear the price of Brent may be dragged down. Anyone throw any light on this? Logically WTI will go up and Brent will come down some as the price difference is illogical??
All IMHO.

Unprecedented.

in on the cheap now as they start to go back to work. I bet China has spent billions in the market in the last few weeks. Probably bought supply for next 3 months or more.
All IMHO.

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more than anything I think. Looks like the World will be getting back to work in the next few months.

Reuters. Brent on the up following this i think.
https://uk.reuters.com/article/us-health-coronavirus-britain-casualties/englands-covid-19-hospital-death-toll-rises-429-to-14829-lowest-rise-in-two-weeks-idUKKBN2221RH

I think Saudi bought major stakes in some of the biggest oil Companies just before the near 10m barrel oil supply cut was announced. This points to them thinking the 10m will be enough, although I must admit I had my doubts as to them actually believing it would work at the time. BUT another major point no-one knows the answer to is how much oil will disappear due to Companies going bust, or closing down wells until the price is high enough. Frankly with WTI last week plumbing the $17 mark (astonishing), and any major rise looking like being a month or so away (maybe WTI will get back to $30?, and Brent $35?), still way too low for many shale oil Co's I should think investors will be pulling the plug on hundreds if not thousands of oil Companies World wide. Especially shale oil Co's in the USA. Maybe we will lose over 10m barrels of production World wide? If so with the known cuts we would be over 20m, possibly even more than the World demand. Also let's not forget China is getting back to work, looks like Germany and the USA will be following quite soon. This situation is very hard to measure. There is even the possibility that in 4 months time there won't be enough oil and maybe Brent will be at $80!!! Take your best guess!
All IMHO.

Locked down anyone vulnerable due to condition, illness etc.. plus all over 45 years old. Compensate them and use police to make sure they comply.
Everyone else works from home if poss, but goes to work if not. None of this "only go to work if absolutely necessary". Not needed?
Yes, some under 45 would get ill and a few even die, but the UK economy would not get trashed.
Looking back this is what I would have voted for.
Also it could have been reviewed on a weekly basis and changed if necessary.
All IMHO.

https://oilprice.com/Energy/Crude-Oil/Russia-And-Saudi-Arabia-Consider-Even-Deeper-Oil-Output-Cuts.html

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http://www.livecharts.co.uk/MarketCharts/brent.php

http://www.livecharts.co.uk/MarketCharts/crude.php

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26p ish by the looks tomorrow.
We will see.

production to support OPEC + etc....
All IMHO.

I don't think it matters much as IMHO there is no way the deal will go ahead witht he price of Brent below $40.
If we loose nothing has changed.
If we win I expect the deal to be put on hold indefinately.
All IMHO.

KenniGT.
As PMO are up 6.3% do you not see an issue with your post?
Maybe you don't know that very large trades may not be shown for 10 days, for instance?
The only thing that you can be sure of on your screen is the bid price. You will be as shown, or better.
All IMHO

Countries starting to re-open so market sees inprovement. We will see.
Encouraging that the sp is up as I type this.
Looks like PMO's hedging has saved the day.
All IMHO.