To be honest14 Jun 2019 14:13
As I mentioned before once or twice, this board hit by the shorters and the Manipulators, highly unethical people that regardless of what is happening are dragging the share down.
okay we hit 69, but as previous posters have said it will be back up to 72. It is what it finishes at at the end of the day that counts. twice this week it has dropped low and ended up up or close to.... granted once it shot up and ended lower as the negatives waded in. Whatever!!!
1. Economics will always prevail. Driving eason is starting in N America, Private schools around the world are already closing for summer meaning massive consumption on fuels and parents take kids away 'driving' Uni students driving, school and university staff driving,
2, Iran is hitting the Straight of Hormuz 4 torpedoes so far. it will not stop making it risky and a pressure on oil prices
3. Syria fightinjg is moving around in various areas where Turkey are attacking the Kurds, Russia is attacking Turk backed forces Hezbolla, Iranian and Syrian forces attacking Turkistani and Turk backed forces retaliation against Russian and various other groups all requires oil. OIl facilities are not safe and are not pumping to volume.
4. Today fighting going on inside the main Libyan oil terminals will be slowing oil supply as engineers head for cover possibly even stopped. Libya pumps more than a million barrels per day. Chances of a stoppage are very high.
5. The number of US rigs have dropped significantly over the last month due to the falling oil price thus reducing oil production
6. Sudan is a major producer with its own problems going on!
7. China to stop buying from Iran which will make them more likely to launch more attacks. and China will be taking reserves from other sources. Iranian oil is now discounted in the equation meaning a massive drop in supply.
8. If the price is low it becomes less viable based on many companies have to use expensive methods to drill for oil they will lower production and help force prices up. A number of countries such as Russia Middle Eastern, Egypt and other African countries are oil reliant for running their countries, their national budgets are based on a predicted price which is generally quite high. OPEC and RUSSIA WILL reduce production to increase prices.
9. China's economy is slowing dramatically and it is very painful, but they have vast numbers of projects underway to develop and improve infrastructure, whole cities are being created and developed, from roads, bridges to High speed rail tracks and massive construction projects in buildings. This requires vast amounts of oil. don;t look art the economy, look at the ways countries like China who are cash rich are reinvesting into their countries infrastructure to prepare for the future, that is happening now!
10. Yemen attacks by Houthi on Saudi oil installations. These and the fact PMO are finding new oil and clearing debt are my reasons. Lets hear from ne
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