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DBNO and giving will probably say they bought in Friday evening at 99p

That’s all forgotten about now, old news. Trump certainly has upset the whole oil industry with his complete stitch up over Iran sanctions! So I don’t think Saudi will be Blackmailed to raise production again. Trump desperate to dissolve Opec but they have be round a lot long than him and they will be around a lot longer as well ! I hope opec give him a taste of his own medicine with $90 oil by year end !

Russia Saudi say producing 10m/bopd @ say $85 = $850m per day Raise production to 10.5m/bopd dropping the oil price to $70 gives them $735m per day You’d have to be a thick as shit to keep pumping that extra 500k per day ! I would imagine they have already reduced produced

Lots of conflicting comments coming out at the moment, Saudis have said they will reduce production by 500k/b in December but they won’t act alone ! Does that mean Russia will reduce and opec the same amount as well to hit the 1m/b that are currently oversupplying demand? Could very well be a big price bounce in December

Well not quite what we wanted to hear but what we expected to be honest! Not sure if the comments after today’s meeting will be enough to stop the tanking oil prices ! Fingers crossed for next months meeting and a Santa rally !

Not really any change then ! That’s not what we wanted to hear ! Well that’s that then opec will keep production at the same levels as current ! Oh well oil will probably drop further now !

Proposing 1m/b cuts ! Will they cause a huge short squeeze throughout the oil market ? If They agree today then tomorrow should be fun !

Are they going to cause a huge short squeeze?

Proposing 1m/b cut ! That should fight off the bears !

I just don’t understand how Shale will pay off there debts ! If decline rates are as high as they say the whole thing sounds like one of those pyramid scams. At some point investors are going to call in the debt.

So the US add another 14 rigs this week 12 oil 2 gas I hope we start to see Shale decline rate increase soon like they keep on saying it will !

Hydraides read Squifs link below ! That explains it perfectly! Shale cannot last to much longer at these levels !

Blimey squif that's a bullish link you've posted if ever I've seen one !

https://oilprice.com/Energy/Energy-General/Can-US-Shale-Overcome-Its-Cash-Flow-Problem.html

No way would be leaving a oil short open over this weekend ! I expect most shorts to close out tonight. Expecting oil to rise going into close tonight ! OPEC could turn this bear market upside down over the weekend !

I was having a laugh Squif, no way would AB lend out his stock ! I bloody hope not.
Buy on the dips when fear drives the market down, anyone buying at these levels will make good money.
I hope Opec turn the tables over the weekend and cause panic buying next week, like Opec said a few months back fair price for brent $75-$85/b

AB won’t be shopping at lidl or m&s that’s for sure. Lol I bet he’s lent his stock out and shorted oil from 86.

The problem we all have is the market is being supplied between 1m -1.5m barrels a day more than the demand so the reappearance of the glut is forming again at a alarming rate. At peak we had about 100m/b glut so with all producers increasing of what we are already supplied that glut won’t take to long to get back to where it was in 2016 ! I bet Trump is smiling!

Brent will probably end up green today !

They will all move to long positions and the first everyone will see is oil race northwards catching everyone out ! Do the complete opposite to what the media keep banging