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Laughable ! We only had the Opec meeting failure 6 days ago and the trolls are on full throttle ! The oil market never stays still for long as we know to well, Next week we could have a deal between the 3 major producers and oil could be back in the 50's in a heart beat. Shale production will be the first to drop pushing oil prices higher, next will be the CV to fizzle out and demand to rise again. Oil companies base there business models to cover highs and lows over a ten year period not 6 months. Enjoy the cheaper fuel at the pumps while it lasts.

https://oilprice.com/Energy/Oil-Prices/US-Shale-Collapse-Will-Lead-To-Higher-Oil-Prices.html

This is going to be the end of the Shale explosion, Looking at the numbers we could see US production fall by 3m barrels going into the second half of the year. Even if Saudi and Russia do come back to the table and do a deal, this has been a wake up slap to the US Shale Bulling idiots, they have to take this as there final warning.

This is now priced to fail, any slightest good news and this could leap up 200%

How the hell are my posts being deleted and Neil's never do ? Something a miss here !

They will be back at the table within weeks, The US and China will buy up as much as they can at these silly prices, the Saudi’s and Russia are handing over there assets at bargain basement prices. It’s all hot air at the moment

I can see them all back round the negotiating table and agreeing on larger cuts than originally proposed.

How on earth is PMO trading at 23p ? This has taken a huge hit over the last 3 trading days. This is on pure panic alone

They haven't got any saving left ! The owe huge amount of debt as well

Will AB start buying is the big question here.

Tullow and most oillies should ask for suspension until this CV is under control

Neil I don’t think you need to say anything, people are losing there shirts here.
Have a little respect ffs

So how will shale deal with this tomorrow? I would imagine most drill rig operators will be given their cards first thing, second they had better turn down those taps and save as much as they possibly can and wait for higher oil prices.

When oil returns to $70 at the end of the year people will be looking back at this and moaning why they didn’t buy at 20p-30p could of had a easy 5 bagger

Hedged pretty good actually, probably enough to see the worst off, neither SA , Russia or The US can last long with sub $40 WTI

This leaves no extra capacity world wide if any of the producers go down.

This move has cost them both about $200m a day from where the price would have bobbed about if they had cut. It’s going to cost the US a lot more than that !
Stupid decision really as keeping the oil prices around the average BE for Shale was actually working !

The market prices in a oil price crash after the opec meeting ended so badly on Friday, I wouldn’t be surprised if we don’t end the day down that much.

They are now saying WTI is Set to open -28% tonight . Really !!

Oil is set to open -28% tonight ! Wow that’s going to be some humongous drop