Member Info for lonestag

Hello
Was told that there’s 2nd case of Convid-19 on the Aoka, not yet been reported.

That’s why they are sending oil to Rotterdam...it’s all a game to them...already rig counts are falling in US and they are winning the oil war with Russia..oil won’t be this low at end of year
https://www.hellenicshippingnews.com/saudi-aramco-boosts-european-crude-inventories-in-bid-to-gain-market-share/

Read this article last night....explains why Louisiana light dropped to around $15… I think the USA will have to regulate oil production after this but that will take policy changes which will take time to get through the houses...but until then who knows what will happen but I’m sure rre will be in a stronger position after this.
https://www.bloomberg.com/news/articles/2020-03-28/pipelines-ask-u-s-oil-drillers-to-curb-output-as-tanks-fill-up

The problem with USA removing troops are that SA has paid for the Troops to be there...I really think oil will be suppressed until June...all the articles I ve read all mention June for meeting etc
https://edition.cnn.com/2020/01/16/politics/saudi-arabia-us-troops-payment/index.html

As the article stated... Algeria, which holds the OPEC presidency at present, has called for a meeting of the group’s Economic Commission Board to be held no later than April 10 to discuss current oil market conditions..that’s is the first steps that need to be taken as they will evaluate market supply conditions and recommend the amount the needs to be cut.. or expecting a good open on Monday

Trump did nt like the senate not agreeing to buy US oil for there SPR last night either..this is just more bad news but some say was expected as Saudi have contracts to fulfil for April and May so doubt a deal will be done next week..these deals take a lot of discussion...one thing they need to understand is how much oil do they need to cut to balance the market...that ll take time to establish

In a statement posted on the U.S. Department of State’s website, government spokesperson Morgan Ortagus outlined that Pompeo stressed in a phone call with the Crown Prince that the Saudis have a “real opportunity to rise to the occasion and reassure global energy and financial markets when the world faces serious economic uncertainty”.

https://www.rigzone.com/news/us_and_saudi_arabia_talk_oil_stabilization-26-mar-2020-161523-article/

Duster..post the report your working from please

Capex is in $ ..cash unrestricted is in £s..your figures are all wrong duster

I can not see how Saudi going to continue the oil war after that statement...the world needs a stable oil market as a lot of country’s are dependant on oil income and they will need that income to help combat confidence-19....medication, medical supplies , food are not free.

King Salman told delegates in his opening speech that they all needed to take firm measures against the coronavirus crisis.
He offered his “sincere condolences” to those countries where people have died, and wished a speedy recovery to those who had the infection.
He added that the world was looking on the leaders of the Group of 20 nations to help combat coronavirus, which is crippling the world’s economy.
He said that the World Health Organisation had Saudi Arabia’s full support in its fight against coronavirus and will aid cooperation in developing a vaccine

https://www.arabnews.com/node/1647786/saudi-arabia

Wonder how long it will go for- lots to discuss

We should be in the teens...Hur was dwn at 7.5p a week or so go and has recovered well and we are in a better position...why won’t the market let us rise

G20 meeting today...I’m expecting Saudis to back off from Oil war and Help stabilise world economies

That’s a good question...I don’t know

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RRE/14478213.html

Until then I’m enjoying trading this market on my trading account

You must b a new investor...personally I need that 800 tone 1600

Rre is unbelievable..it’s like it’s being held down today...price was a bit erratic...bots at play I suppose..annoying as my research into rre ticks all the boxes..especially in the current situation

That’s futures is nt it? But still looks better than live price I watch

Where r u getting your Brent prices from?
http://www.m.livecharts.co.uk/MarketCharts/brent.php