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We'll get transparency of their business plans and hopefully an inkling of where costs are/trading update.
For me next week is a major event what OPEC decide to do next week impacts the price of oil.
Confirmed delays should see a rush for all the available cheap oil (which is probably already happening)
acker, it looks like MNH needs additional money thrown into it and has been hinted at to expand operations.
Jan they also need to pay themselves in shares.
RHA he needs cash, gold he needs cash.
Of course he will try and consolidate then have to build billions of new shares.
Circum was a non event till Potash prices recover anyway.
with hedging they'll be making around $51 a barrel on $35 overall costs.
Lets hope CMD shows a few more cuts even a $1 cut works out approx $28m profits.
as soon s OPEC confirm delays it'll shift focus to investing in oil shares.
OPEC delay will mean all the oil traders will eye up march etc futures.
added to this USD 2021 will crash as all the hedge funds leave treasuries to invest in emerging markets again.
of a vaccination rolling out globally early next year and a likely OPEC delay till that vaccination rollout surely u'd be looking at closing and going long.
moment brent breaksout of $46 high its going $50+.
it matters what opec do....there were even russian murmers to cut supply in earlier stories.
https://oilprice.com/Energy/Energy-General/OPEC-Expects-Oil-Market-Deficit-Next-Year.html
opec cant have a repeat of 2020 they need normal prices asap or they go bust.
despite $500m coming in havent helped.
I dont think analysts realise they threw the kitchen sink at writedowns and redundancy/restructuring costs in the last results and have cut the majority of their workforce. Q3/Q4 should see them returning to profit despite ongoing cost cuts.
210000 bpd but declined 15000 bpd with a pretty steep production drop and large decommissioning costs forward similar debt to Tullow.
Tullow 76000 bpd £366m and better hedged.
Now im not suggesting we should be a third of the value of post PMO but PMO post RTO at almost 11 times the value of Tullow is extreme.