Member Info for Krakenoil

Aramco is forecasting oil demand will be at the mid 90's by the end of this year. Almost back to pre Covid levels.
This could get very interesting as they have been spot on with their predictions all the way through this mess.

Good to see you actually bullish on oil Ferret, Opec reported oil demand is back at 90mbls and climbing, we now have a situation where most mid cap oillies across the globe are in a position of production decline that they cannot currently replace, shale looking like they will suffer the most going into next year and some analysts forecast it is unlikely that shale production will ever return to the highs of this year.
We are at the end of the typical 7 year oil cycle of over supply.
We could very well see $100 oil next year at some point.

Someone say $100 a barrel?

33 ? Is that her inside leg measurement ?

Its up then down past WTI ...... Where ever that is lol

Ha ha ha - How long did it take for you to work that out !! Everyone I've just worked out if oil drops so does PMO , my God what have i been doing wrong all these years

I don't think he knows what he wants, UP or down, WTI, Brent, Petrol, Diesel or even ice cream.

Someone throw him a dummy

Shale production tanking, Who said Opec was dead ? lol
The moment Shale Start to raise investment and production Opec can now threaten to open the Taps.
Who would risk shale investment now ? lol
Shale is in big trouble now

That sell of £920k worth was a mistake looking on the London stock exchange, there was buy at the exact same time for the exact volume and then a sell worth £92k , looks like someone had added another zero on the end by mistake. then rectified it.

Cairn now just 20% away from pre Covid prices.
I think once we get this refinancing deal RNS we wont be too far behind that either.

2 weeks of large draws and still oil won’t move up

#Crude -8.587M
#Cushing +1.63M
#Gasoline -1.748M
#Distillate +3.824M

#Crude -8.587M
#Cushing +1.63M
#Gasoline -1.748M
#Distillate +3.824M

Been a massive explosion in Beirut, many people dead and injured

There has been a massive explosion in Beirut, many people dead and injured!

BP flying. Obviously the market is pricing in recovery now.

Well something has changed this weekend, the media have turned from being negative to being a little positive !
This could now be the turning point

US crude production at 10.001mbpd in May versus 11.990mbpd in April (revised down from 12.061mbpd)

If the rig count stays low US production will fall off a cliff

US crude production at 10.001mbpd in May versus 11.990mbpd in April (revised down from 12.061mbpd)

The longer the rig count stays low the worse this is getting for the US. They could be way under 10m now and still falling .

Refinancing deal to be completed by the end of July. Monday could be fireworks here