Member Info for lonestag

This is nt the article I was reading but it also mentions the meeting on 14th.
“Oil producing states, like Texas, have the authority to manage production, though the federal government cannot manage production and a consortium of companies cooperating would be seen as an anti-trust violation. The Texas commission last restricted output in 1970. It has set a meeting set for April 14.”

https://www.cnbc.com/2020/04/05/oil-drops-9percent-following-a-record-surge-last-week-as-opec-meeting-on-a-production-cut-is-delayed.html

Are nt the Texas Railroad Commission having a meeting on 14th?remember reading an article that mentioned it

Why is rre being held back while others are up nearly 20%...is it because we are paying a divi..no debt and low cost opex.

US Congress sent a letter to MBS today....cut or loose US support
https://conaway.house.gov/uploadedfiles/04.08.20_heat_letter_to_mbs.pdf

“North Sea companies have generally managed to get opex comfortably below $30/bl oe and, in many cases, below $20/bl oe, driving much greater resilience at lower oil and gas prices than previously,” says Daniel Slater, oil and gas research director at London brokerage Arden. But he does warn that companies with larger debt positions may experience issues with debt covenants.

https://www.petroleum-economist.com/articles/upstream/exploration-production/2020/north-sea-fids-suffer-slippage

Thefuturetruth…reckons TULLOW going to £5 this week but RRE doomed...

Opex was up in 2019 due to Foinaven being down for longer than anticipated...it’s all in the broadcast...AA said they are making free cash flow at $18…Hur opex is $17 …so they are other producers...producing at that level.…
Take some time and listen to the broadcast

https://ca.linkedin.com/in/ryan-heath-b9255b43

https://ca.linkedin.com/in/grahamheath?trk=people-guest_people_search-card

Dow down because of Convid-19...US surpassed 200k infected and lockdown has been increased until end of April...they think USA will go into a recession...also the US build of oil inventory increased this week and it was noted that Trumps attitude has changed towards convid-19

Even if Saudis cut...how long to get rid of the extra storage...everyone going to have to shutdown and how much will that cost and how many will restart operations...in respect of shale producers...this is the end game Saudis and Russia want..they want shale producers to shutdown production as they know many will not restart and so Saudi and Russia get more market share...this is going give a painful few months

Try this updated article...if u thought $10 was a shock
https://www.google.co.uk/amp/s/oilprice.com/Energy/Crude-Oil/Could-Oil-Really-Fall-To-0.amp.html

Oil Spots have dropped significantly...WTF
https://oilprice.com/

surely the market wont get a shock and drop...this is expected?

its on its way...more oil
https://www.rigzone.com/news/wire/saudis_make_good_on_oil_wave_promise-31-mar-2020-161582-article/

Can you post the link...as it’s known fact that Russia wants the same outcome as the Saudi....to crush US shale as end game means higher oil price and more control over the market.

if you read what I posted..’.they were’..past tense..But who really cares...the situation is what it is and the market will do what it does..up/dwn as it likes

Research https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUSKBN1ZD2AJ

Looks like this explains Brent at $22...everyone give discounts to shift oil at moment....now Saudi are saying they will continue this into May...it’s going to be up/down for few months but I’m thinking June will be the month for Saudi to back off once the US shake has been damaged sufficiently...remember Saudis and Russia have been cutting while the USA has kept pumping...think they were doing 14mill a day.

See this for what Brent really trading at
https://www.lse.co.uk/news/north-sea-crude-forties-falls-to-record-low-as-demand-collapses-liff49ivka932yj.html

https://www.google.co.uk/amp/s/oilprice.com/Energy/Crude-Oil/Oil-Prices-Slide-As-Saudi-Arabia-Confirms-Another-Export-Boost.amp.html