Member Info for NewKOTB

Not for WTI .... lol

There are over 200 grades of oil on the market ......

Bloomberg .... lol, last week they were quoting POO going to $0

They change more often than the wife in a retail fashion outlet store.

peronifund, yep, that's my take on the story too.

Must be a lot of shorts open across the market ... this deal was only talked about a little over week ago, no one really gave much credence to it being pulled off in record time for record amounts for record duration. WTI will put on +20% in a spike as shorts close and forward contracts shoot up. Tomorrow Aramco will issue it's pricing for May, that will put a floor under WTI for a month imo

MTSparky £17.50
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Kenco222 £10.95
NewKOTB 880p

Unbelievable, that's how I would describe the last three days. I understand why anyone would close their oil positions or indeed short on Thursday because getting so many countries to agree to unprecedented cuts would be a minor miracle, yet here we are. Got to admit the Mexicans really had OPEC on the ropes with getting the deal through, but somehow, someway this historic event will go down in history. Unbelievable, just shows there is hope for humanity to work together in times of crisis. Right, next job to sort climate change, well, lets just wait until TLW hit 500p shall we first.
PS atb laidback, hope you manage to limit the damage
atb

https://twitter.com/i/status/1249428916365860870

OPEC
@OPECSecretariat
·
6m
Together with all participating countries in the OPEC and non-OPEC DoC as well as other producers, have turned a new historic page in the world of oil” the SG said.

He noted that this agreement has paved the way for a global alliance with the participation of the G20.

OPEC
@OPECSecretariat
·
6m
Secretary General #HEMohammadBarkindo highlighted the importance of the historic agreement reached at the 10th (Extraordinary) OPEC and non-OPEC Ministerial videoconference for the benefits of producers, consumers and the global economy.

OPEC
@OPECSecretariat
·
5m
Replying to
@OPECSecretariat
He added: “these production adjustments are historic; they are largest in volume and the longest in duration, as they are planned to last for two years. We are witnessing today the triumph of international cooperation and multilateralism which are the core of OPEC values.”

"Where are the shorters gone..."

Logging in to their accounts this very moment to put limits on their shorts .... maybe unable to get logged in on Tuesday due to high demand ...lol

Think most oilies, well run with bags of potential will go into auction, that's for sure, just from the surge of shorts closing if nothing else.

With luck, in a nice way btw, I hope you don't .... really would like for there to be a suspension due to corporate activity, preferably a RTO / MERGER as opposed to MBO.

Although AA might want the SP higher for strategic reasons, if so i will join you.

atb

"Are the cuts enough or not ?...."

If not, OPEC's next meeting in two months will address this imo and will continue to do so for the duration of the agreement, which is two years.

"It doesn't really matter how much they cut.."

It's not the amount, its the fact they are working together to do unprecedented cuts. Another OPEC+ meeting in 2 months will cut more if needed.

Plus this agreement will last for 2 YEARS ..... once again unprecedented.

"Demand is low but demand will return.GL.."

That is exactly why, with the security this deal offers the oil market, AA will want to position the company accordingly imo

RNS Tuesday is odds on in my book now OPEC+ deal is done.

atb

OPEC+ Deal is what AA has been waiting for imo ... really do think we will see an RNS on Tuesday. (fingers crossed)

Unbelievable, that's how I would describe the last three days. I understand why anyone would close their oil positions or indeed short on Thursday because getting so many countries to agree to unprecedented cuts would be a minor miracle, yet here we are. Got to admit the Mexicans really had OPEC on the ropes with getting the deal through, but somehow, someway this historic event will go down in history. Unbelievable, just shows there is hope for humanity to work together in times of crisis. Right, next job to sort climate change, well, lets just wait until TLW hit 500p shall we first.
atb

R.I.P

One of the many underrated entertainers imo

https://www.bbc.co.uk/news/uk-52262490

Just remember guys .... that Covid-19 is the real deal, not what is written on a BB by anonymous individuals.

atb

"Oil and gas companies working in shale basins from Texas to Wyoming are saddled with debt..."

lol ...what rubbish. You think banks taking over running O&G will works, the problem is the Opex vs POO, not who is running them.