Member Info for laidback

This range is fine for Pmo long term

I don't think poo will fall below $70

oil gone blue

After mid terms Trump won't give a monkeys about keep oil prices low.

Mbs is under pressure ... needs to keep oil prices high to stop unrest in Saudi Arabia. As long as the Saudis happy at home, with plenty money flowing in, his position is secure as leader.

Very very simple ... oil prices are only going higher imo

Debt reduction should be $400 min 😀

Sp rising strongly

Good results leaking ?

Brent $73 and rising

'Squeezing every last barrel'
Jean-Louis Le Mee and Will Smith, from Westbeck Energy, said Saudi Arabia, Opec, and Russia cannot lift output much further to plug the Iranian deficit even if they bend every sinew. "Every producer globally is currently squeezing every last barrel," they said. Westbeck is betting on a "furious rally" in November and December, culminating in a $US150 crescendo next year.

Saudi oil minister Khalid al-Falih confirmed that the Opec-Russia cartel is in "produce as much as you can mode" and that crude prices could quickly jump to $US100.

"Nobody has a clue what Iranian exports will be. There are potential declines in Libya, Nigeria, Mexico and Venezuela. Our spare capacities for the globe are much less today than they were in the past, and we are using a significant part of them," he told Tass.

Mr Al-Falih says the kingdom can ramp up output from 10.7 million to 12million barrels a day (b/d). "This I can assure. But if 3m b/d disappears, we cannot cover this volume," he said.

In practical terms, the spare capacity of global oil producers will fall below 1 per cent by early next year for the first time in the history of the post-war energy markets. This is lower than during the Opec shock of 1979, and lower than in July 2008 when Chinese demand pushed Brent to $US147 a barrel.

"All this works perfectly so long as there are no supply problems anywhere. But Libya and Nigeria are political wild cards, and Venezuela is collapsing," said Helima Croft from RBC Capital Markets.

"You have already had three Saudi tankers attacked in the Red Sea by (Iranian-backed) Houthis and one was sunk. You can't rule anything out," said Mrs Croft, a former Mid-East analyst for the US Central Intelligence Agency.

On Sunday, Iran's leader Hassan Rouhani threatened to close the Strait of Hormuz, the choke point for a fifth of world crude and for British shipments of liquefied natural gas from Qatar.

https://www.smh.com.au/business/markets/there-s-a-50-50-chance-trump-is-about-to-trigger-a-global-oil-shock-20181101-p50dae.html

It's about politics

After 5th November oil will rally strongly imo

Beginning to look better ... US drafting trade deal with China

I think this is the bottom for oil prices imo

Saudis will work to raise Oil after mid-terms in US .... they and Trump are in this together

This price range is fine for pmo

Oil will go up and down

In fact $65-$75 is probably ideal range to sustain demand and for pmo business plan

GL all

Yes better for oil to be in 70s than 80s for longer term stability

When oil was $71 this was in the 120s

I see strong rises in the run up to results

6% rise ... not a bad start

I think we will see 80s very soon imo

Up 5.4% ...

Will close 110p imo