Member Info for Krakenoil

Ammu - That’s not what he said and you know it ! He actually Said :
Putin says current oil price acceptable, with fiscal budget predicated on Brent at $42.4/bl, but indicates need for deeper Opec+ cuts: "we need to identify further steps to balance the global hydrocarbon market"

But if it drops further going into next month it gives me a chance to use my wife and I’d ISA allowance to buy another £40k worth of stock

Stupidly I didn’t sell any stock before the 30% drop

Ammu just trying to de-ramp so he can buy in cheaper, he’s been doing the same on the other boards.

In the last hour:
Putin - Russia will cooperate with OPEC to support the oil market.

That’s because they had plenty of greedy lenders willing to throw large sums of money into Shale, The profit never materialised nor have they got their investment back and at this rate they may never get it back.

AB may well be snapping up the sold stock again at these levels.

We need to keep a eye on the number of flights within China, As soon as they start increasing then that's the bottom as I see it.
The western world should be able to control this outbreak relatively quickly with precautions in place.

Both see 40p, Enquest turned a corner last year and we now sit in a great position, for when this virus threat retreats over the next few months, we can tread water at $50 Brent, Kraken still demanding a higher price.

If China contains this virus then It proves to the world that even the largest populated country has contained it quickly so should be much easier for the likes of the US and Europe to do the same.

Usually Its the day you decide to sell out the bounce happens. Then makes you feel even worse. That's how these big players pray on the week.
Fair play Dave.

The slightest positive news will turn this panic around, Most traders sitting 100% in cash just waiting for that first signal.
Its coming !

The media have almost turned away from reporting on China, nothing to see and good news doesn't sell stories, now doing their very best to whip up a European panic.
Its looks very over done. The markets panicking will be hoovered up by the big players and then sold back to those sellers panic buying.

Neil you may have sold out at the bottom here.

We are still burning through 97m barrels every day. ! Libya lost a million barrels from the market, Opec to remove another million, Shale on the verge of zero growth this year may even start to fall away. Lets not forget about the rest of the worlds producers that still haven't recovered from 2014, those fields are in decline.

I believe oil prices are almost at the bottom of this panic sell off now. Its going to take a fair bit of time to recover but I'm sure China will be filling those storage tanks again with vert cheap oil as they did in 2016.

Expected to cut 1m barrels next week, China starting to unblock the ports, Israeli’s claim to have found a cure for Corona, Shale production declines a real possibility this year
The market is setting up a bounce

WTI Racing towards $40. This is getting really rather silly now. Brent just about to drop into the 49’s

China will be back to full manufacturing speed within a few weeks, communist resumé won’t let a few 1000 deaths stop the economy. Remember the world is still burning 96m barrels every day, driving season will soon be on us.
A vaccine ain’t far away as all biotech companies chasing the jackpot
Soon we will all forget about Corona and focus on Shale declines

If we get 18p by April I’ll gladly fill my wife and I’s isa allowances. £20k worth of shares each will be a gift. Either way ponce I’m not bothered.

Maybe this is the straw that breaks Shale's back. Will Opec smell blood ? That's the problem