Member Info for Krakenoil

We need to see Shale production dropping off ! At 12.3mb that's still flooding the market. Back to 10mb the oil price would be up around $75 and everyone would be happy. Shale might actually start making a profit.

Shale train still flying along, output still set to rise year on year unfortunately. If shale was making such losses why on god earth would they increase production and make even higher losses and push the oil price down with it accelerating the loss even further, I just don't get it ! And if this is true why would anyone with half a brain cell throw money at it ?

Shale must be profitable otherwise why the hell would they produce it ? I think the media reports saying it’s making a loss must be fake. Why on earth would any company sell any product at a loss ? It’s just doesn’t make sense ! And they keep on making more and more.

Unfortunately Shale isn’t going anywhere, I still expect Shale to increase production over the next few years even at a loss, seems to be no shortage of stupid investors willing to hand over large sums of money on the hope of getting a return.

Surly Trump has to respond to this blatant act of total defiance.

https://www.wsj.com/articles/iranian-tanker-prepares-to-offload-oil-to-syria-bound-ships-11567193671

News out - Iran will transfer the oil into smaller tankers that will offload the oil into Syria !
Now what’s Trump going to do now ? The EU now has egg on face and the UK still has a Tanker being held hostage.

News coming out - Stating Iran is to transfer the oil to smaller tankers that will take the oil to Syria.
What will Trump do now ? That’s a smack in the face from Iran and they still hold our Tanker hostage

It’s not bullish at all, it’s bearish on oil prices as it lowers demand as people can’t use their vehicles. Won’t make any affect on production unless it moves to Texas

PMO closed out at 80.76 with Brent at $59.1.
If Brent bounces then next week looks very good, Breakout as Master RSI forecasted

Good buying opportunity

The international Atomic inspector quarterly reports that Iran continues to breach enrichment and stock pile limits of Uranium.
Deal was 202.8kg Now at 241.6kg.
Whats Trump going to do about that then

The way PMO and ENQ are holding up, im expecting the oil price to recover this evening.

https://www.nsenergybusiness.com/projects/zama-oil-field-gulf-of-mexico/

Our SP still holding 81p, and that bodes very well for next week with another expected draw down.
Boom could see 90p next week

Zama, shallow water, peak production of 300k bopd, reserves in excess of 2 billion barrels, PMO own 1 third of the asset and you think its only worth 200 - 250m lol
What drugs are you on ?

150p is possible on the right sale price

US rig count expected to drop again, Be carful the oil price breaks $61 key level it might rise towards $65 if it crosses the DBNO MA line
Game on

That's because he is the biggest clown on this BB

Turkey's foreign minister has stated the Adrian Darya is heading for Lebanon ! lol
That should ruffle Trumpets feather somewhat