Member Info for January24

Looks like Brent getting ready to push through $90 soon.
I mentioned a week or so ago that I thought OPEC would cut 1m bpd. That seems now what the market is expecting. I know think that they will do more ! 1.5m bpd is my newforecasted cut from OPEC

Nothing wrong with old women !
A lot of us here are married to them !

Your right, it's about timing !

- It's about bloody TIME they made some big purchases with their own money !

Your right BTFATH1,
YOU organise the tea party and Krak and I will come !
Yes, there are a lot of us cheeky monkeys ( who can't get jobs at enginering firms) who spent £200k or more on our holdings here. We hold 1m or more Enquest shares.
How about you ?
I think KO owns the engineering firm he works for.
All the best
JAN

BTFATH1 ,
Let me guess your surname.
Is it Corbyn ?

Frac,
Why are you asking Spin to look in the mirror and LIe ?
You should know mirrors never Lie !

Spin is clever enough to know this, that is why he won't look in the mirror.
When you get old Frac, you will realise it's much better to look at your Shadow !

Wraith,
In my opinion that's a pathetic amount of shares purchased and held by the directors. Some shareholders posting here have more shares than Mr. HILL. PLUS you fail to mention what percentage of their holding came as NO cost options/renumeration package deal.
That 50k share purchase that you rave about cost what ? £5,000 wow big deal for a director !
NO - The directors purchases a very poor, in my opinion.

My answer is a big YES.
We have OPEC meeting on Wednesday, surely they will cut 1m bpd and Brent POO should clear $90.
China has begun to "come back" and with the big party conference looming, they will want to fully be open for business. This would be a big POO headwind out of the way ! Then of course we have the 5th December deadline for Europe to stop buying Russian oil . $100 oil anyone. Looks like QTR4 could be good to us ! Buckle up it could be a fast ride ! (only for the younger ones here, as I am to old and tired for all that fast stuff myself)

Yes, your right there Sipp.
And there are 2 letters missing , so it's double points for that error.
Even I know how to spell "Through" - So, Possibly he was tired and failed to push the keys hard enough.
Maybe too much sherry or could we be wrong and thogh is an anagram for something ?

"But how would you even know if I had misspelt ?"

You make an Excellent Point ! - To be honest, I hadn't thought of that, Maybe that's why I have No points at all !

Lol romaron,
I do watch Bloomberg, CNBC, Sky News and Peppa Pig. All give me an interesting view on current Life !
Oh and I read your posts.
And that reminds me, I have a competition going . You know my spellings are not too hot ! Well I have been trying to find a spelling mistake in your posts for the last month. I get ONE point for each mistake I can find. I currently have 0 points !
- Well done, I'm jealous !

Source - Figures used in my post were taken from this weeks EIA inventory report from the US.

Total oil products supplied over the last four-week period averaged 19.7 million barrels a day.Over the past four weeks, crude oil IMPORTS averagedabout 6.5 million barrels per day. That leaves around 13 million that must come from US production and the SPR.The imported oil will be the heavy grade oil that is mixed with the US sweet light crude at the refineries.Interesting that the US alone makes up for 20% of the world's demand. It also has to buy just over 6% of the world's production daily because it can't produce enough oil at home !I think that proves that the US still needs to have it's SPR, and it better top it back up again soon ! ! !

Mr. Carrots,
I think you must have been drinking to much during your lunch break !

POO has fallen again overnight.
WE know that the OPEC technical team thrash out the details well before the actual meeting. The OPEC leaders then have their discussion in the days before the meeting to get an agreement. They then announce their collective action on the day.

This means the technical teams will be feeding data to the leaders about now (with WTi at $77). The question is how much of a cut do they need to get POO to $90. I guess they will want to keep the option for further cuts later, if needed. Therefore I believe that OPEC will cut 1m bpd. This just happens to be the figure that Russia has suggested to OPEC.

Agree KO,
I see an OPEC cut of around 1m barrels too !
They want $90 oil plus.
Further loss of supply coming - Europe can't agree Russian oil price cap. Hungary and "one other" not happy with a cap at all !
Now with a Russian Cap I see up too 1m barrels of Russian oil coming off (No more).
However, without a Russian Cap you should see 2m barrels off the market, because they don't have oil tankers to ship it all across to Asia. In addition Europe will buy nothing along with US. Most Africa will be worried about upsetting Eurpe and the US, that just leaves Asia and the lack of tankers to ship all that Russian oil.
I agree with ukbbb - The re-filling of the SPR will be delayed and completed slowly over time. They won't want to do it while we have supply issues.
Gas to Oil switching for H2 2022 is likely to be underestimated. Many companies within Europe are making this switch (especially Germany).
China will begining purchasing oil at higher levels as they fully un-lock their country from covid.
Remember the World's supply of oil is capped at around 100m or just under due to a decade of under investment. We have not seen the "big push" from the demand side yet because China has been in lockdown, helping to keep demand in-check.
How do they say it - "The Shiet will hit the fan soon"
You have a number of "tailwinds" to push oil up for the remainder of 2022 and going into 2023. It seems that all the "headwinds" have been exhausted !

Next Ops update - mid November.
Ops update 18th Nov 2021
Ops update late Nov 2020

The US is not self sufficient in oil.
One it produces only light oil and it has to purchase heavy oil to mix with it as its refinerys won't work without heavy oil.
Two , the US uses nearly 20m bpd yet produces only 11m bpd.

Sorry Stumpy,
To many tailwind approaching for $70 POO.
The market will wake up to this very soon

59 going on 87