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On the back of that it also means the market has swallowed up Iran's supply without much fuss, that only leaves Opec oil and Shale as a reserve.
Things may be even tighter than we realise.
Could get very interesting later in the year as countries open up and the planes start flying again.

Nice to see some positivity forming.
Who's going to be the next to increase ?
As the year goes on I expect these target prices to increase very nicely indeed.

Enquest needs around $75 for at least 12 -18 months to knock a massive chunk off our debt pile, let’s hope that Q3-Q4 show improvement in oil prices.
We also hope the market can swallow up Iranian oil once the US bend over and remove sanctions.

Our Mcap doesn’t increase as our debt drops - strange as I thought it should be like a set of scales the weight moves from one side to the other.

Looks like he’s about to bend over in front of Iran. Lifting sanctions will allow Iran to add another 1.5m plus barrels to the market.
Saudi won’t like the outcome, specially when Iran have already been enriching uranium

-4% Now
These swings are ridiculous now

Oil prices under pressure again -$1.5

I must agree with chilting on this, moving into hydrogen alongside our oil production is a must for Enquest and to do this soon would attract investors as oil is seen to be dirty and on the way out.
It would be a great move even if it were just a start.

Prince Abdulaziz said yesterday that Opec and Opec + Bend it like Beckham !
The world knows they are all cheating But how much reserve supply do they actually have left to meet demand in H2 ?
If the US cannot bring in more production later this year then I think we could actually see a very tight market towards Q3 into Q4.
We have seen most oil producers lower 2021 production targets by 10% and that’s where the under supply is going to come from.
This must be blamed on Trump putting pressure on SA to keep oil prices too low over the past 4 years, now we are 3 years behind on oil prospecting and reserves are declining fast

You were spot on Jan, the increase production must be required from next month.
How things can turn around so fast.
$70 Brent would be great, $80 and we can start booking the party

I think they are a month or 2 too early to increase production, Specially when we are seeing some of Europe going into full lockdown for at least another month.
Maybe they had a few members revolt over Russia and Iran taking market share. Fingers crossed the US dont drive up production too fast as well

Opec will increase production from May by 300k, June another 400k and SA will also add the 1m barrels it cut voluntary
That should f&ck up oil prices now

No available to buy yet

That’s a bad as Pmo debt v production

That’s going to help tomorrow’s panic

Falling again this evening.
Let’s hope Opec agree to keep production cuts in place for another few months

Evening Epip, It the EU casting a negative blanket over the recovery unfortunately, the atrocious way they’ve handled the vaccine roll out could very well put the world at risk again.
Thank god we have left otherwise we would be in lockdown probably until next year.

Up another 100k this week, now slightly over 11m
Nothing seems to stop these idiots

I say everyone should short it to zero and give the bond holders a taste of their bad medicine

Tullow oil had a Mcap of £16billion back in 2012 with production around 100k