Member Info for EmeraldCarrots

oil production would not have been that hard for them? Maybe the article was incorrect.
Seems to me OPEC & Russia had the chance to peg the oil price around $50 with the total 1.5 million barrels per day cut (was to be OPEC 1m plus the 500K from Russia).
What we now have is share price mayhem and an oil price which is not good for anyone! Brilliant!!!
Remember Saudi and Russian Plc's share prices have been hammered too. I bet Mr Putin has had a fair few phone calls from his mates running oil Companies today.
So why the hell did Russia not agree, or offer 300K per day further reduction???
Can this really be Russia trying to screw up shale oil in America?
It won't work as most of these Companies can expand and contract production/expendature easily. Maybe some will go under but as soon as the oil price improves others will spring up IMHO.
All IMHO.

What happened 1st thing this AM is I think the MM's did not really know what to set the bid/ask price at.
So, amazingly we got bid 10p, ask 40p. The trouble with stop losses is, I believe in this situation you broker could have sold your shares @ 10p each, as the bid did start @ 10p?? Bid ended today @ 28p. Market assumes oil price will bankrupt PMO if the oil price does not improve in say next 10 months. Frankly can't argue much with that IF the oil price stays $35 or below, but personally I can't see that happening. As I said previously with the 40% of oil hedged @ $64 until end of June PMO are not IMHO in that much trouble as things stand. After end June if oil price not substancially better then maybe.
All IMHO.

a barrel. So getting about $47 per barrel at the moment if you average out using the current $36 per barrel.
(40 / 100 )x $63 = $25.20.
(60/100) x $36 = $21.60.
Total: $46.80 per barrel
So basically PMO are, I believe ok for the moment. Trouble could be if the oil price does not inprove by July as very little is hedged as far as I Know for the second half. Thus about 3.5 months for the oil price to improve North of I'd say minumum $45 per barrel. Stranger things have happened.
All IMHO.
Then I think

The article below says that sunlight helps kill bacteria and viruses.
Let's face it ultra violet light in our normal sun light is pretty dangerous - even to us.
So Singapore and Vietnam coronovirus very low spread could be all of the above as they have heat, humidity and strong sunlight......... More research neede I think. There is definately something going on to restrict the virus spread or kill the virus in these 2 countries imho.

https://www.healthline.com/health-news/want-to-kill-dangerous-germs-open-your-blinds

.......cars - motor bikes - bicycles - electric bicycles - scooters - electric scooters.
So what Company makes money from all of these????
- Weather is improving. Just been out on my electric bike - from Halfords.

I have recently read OPEC complied over 100% with the cuts.
Not sure about Russia.
However the OPEC members & Russia don't trust each other so a while back they set up and independant monitoring Company that polices the cuts they agree.
I am astounded Russia has not agreed to ANY more cuts. Absolutely MAD.
All IMHO.

It has blown it's entire leg off. brent is now at $46.66, so only $6.66 above the level Russia needs to balance it's books. I read cutting 500K off Russia's output would not be that hard for them! What a disaster.

to agreee on something". What they are having for tea perhaps?

Well, if Putin does not change his stance here and cut at least some more oil supply then I'll be gob smacked. I'll also be more anti Russian than I am already!

that Russia is NOT going to help.......... basically the World out here?
He himself has been quited as saying Russia are ok down to $40, I assume Brent.
If they don't wise up Brent will be sub $40 in 2 weeks IMHO.
All IMHO.

5 people die every day in road accidents. ONE person so far has died in the UK due to Coronovirus.
About 65 million people in the UK. Sad ONE person has died. Market over-reaaction????????????????
https://www.brake.org.uk/facts-resources/1653-uk-road-casualties

Having listened to the presentation where did the $65 b.o.p.d "break even" come from?
Some sort of dream? I heard free cash flow " even at todays price levels".
What a load of bullocks.

members to agree to cut the 500K a day that OPEC want them to do. From the below link:- "It wants non-Opec states, including Russia, to contribute 500,000 bpd".
https://www.bbc.co.uk/news/business-51753142
Obviously I really hope they agree. If not I fear the oil price will go down the pan!
It's the fear of the oil price, and where it might go that has crashed the sp IMHO.

That is what we wanted. Libya already cut 1m barrels per day. Little from venezuela or Iran. Can see this working!
Another thought is people avoiding public transport in favour of cars/motorbikes to get to work. Massive increase in oil consumption there???
https://www.bbc.co.uk/news/business-51753142

their cars/motorbikes to get to work. Same in other countries. This could be a huge increase in World wide petrol and oil consumption methinks.

Brent is going up. $51.10c at the moment. It is entirely in OPEC and Russias interests IMHO that the oil price is suported over $50 Brent. If it falls much below that what happens? Share prices in oil Co's go down. They DO NOT WANT THAT EITHER. I think they will do whatever it takes and this 1.5m just shows the will. Talk was of 600k.
Remember parts of China going back to work...............
All IMHO.

That is what we wanted. Libya already cut 1m barrels per day. Little from venezuela or Iran. Can see this working!
https://www.bbc.co.uk/news/business-51753142

(Brent) to be well North of $50 a barrel. They are squabbling over how but if they screw this up they will be looking at $40 oil, not $50. $40 according to an article I read is the minimum Russia need to service their Government debt. So I bet Putin is pulling the strings here. He's not daft as we know. I think we may get a cut of another 1m barrels a day.

agrees nmore than a 600,000 b.o.p.d cut and PMO's results are good to very good maybe, just maybe we will be back over sp £1.00. Fingers crossed!!
All IMHO.

Saudi wants OPEC to cut 1m b.o.p.d. Libya says that is not necessary as they are selling 1m barrels less at the momet due to the bockade. So basically Saudi wants 1m on top of the 1m Libya is not selling. It will be interesting to see what the outcome is. Somewhere between the rwo one would think.
Quote "On Tuesday, the Joint Technical Committee of the OPEC+ group, meeting before the regular OPEC meeting, considered bigger oil production cuts—between 600,000 bpd and 1 million bpd, and ended up recommending additional cuts of at least 600,000 bpd. ". AT LEAST 600,000 b.o.p.d the advisors say, and they are well aware of the missing Libyan oil. So a cut of 800,000 b.o.p.d maybe the logical answer, although with the OPEC members and Russia involved frankly anything could happen IMHO. If they don't cut 600,000 then presumably the oil price will nose dive.
All IMHO.