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https://www.bloomberg.com/news/articles/2020-09-15/china-s-appetite-for-oil-is-probably-bigger-than-it-looks

https://www.bloomberg.com/news/articles/2020-09-15/china-s-appetite-for-oil-is-probably-bigger-than-it-looks

This CV bulls hit has cost me badly

Tony cost me about 100k so i would be pleased to lose just 6k

Once he locks in the creditors then we should bounce nicely.

Premier has nose dived from the 23rd June, No sign yet of positivity either. Now 68% down from June 23.

Well done Tony

And you think the creditors will take a equity swop if they also thought oil prices won’t rebound? I think not !!

US production rises pushing down oil prices !

When are they going to learn ? With a very fine line balance between supply and demand, the US stamp all over the work by OPEC +

2 for every one held

They will announce the creditors being locked in first, this in turn will allow the market to price in the risk Being kicked down the road for the next 5 years, oil prices will be much higher by then so I’m expecting a rally towards 30p before the RI price being set

Last week we had oil prices tanking after a 15m draw this week we have a 2.6m build so we should se oil prices rise..... shouldn’t we ??

I think you may be a little green eyed tomorrow DBNO

She's flying !

If anyone can show me new oil finds that can balance existing field declines then i'm all ears .

It doesn't make any difference now, oil companies across the globe haven't had the funds to replace their declining assets and now production is also declining , the world is currently burning through 91m bbls per day with CV, in 2018 we were maxed out at 98mbbls day without surplus reserves /production to fall back on, we now know Shale is screwed and US production will fall next year along with the hundreds of small oil producers around the world. So when that supply meets demand and it will next year we wont be in a position to produce enough.
Its going to get very tight indeed

I'm expecting oil prices to move towards $50 by the end of the year. Shale production must be about to fall off a cliff.

2021 is the end of the usual 7 year cycle of low oil prices. A Super spike is now inevitable .

https://twitter.com/cn_wire/status/1303625192741068800?s=21

https://twitter.com/cn_wire/status/1303625192741068800?s=21

https://twitter.com/cn_wire/status/1303625192741068800?s=21

Possible but discounted from what price ? Pmo could be trading at 30p plus by then