Member Info for NewKOTB

This deal is set to last for 2 YEARS .... that can be nothing but a good thing for stability of POO

"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.

"another meeting today!- sources #OOTT #opec... "

So they have the deal done, just need for all interested parties to have the meeting and vote to pass it aimo.

Fill the bath, fish pond, pots n pans, wellington boots and anything else you can find too.

Bargain like this won't come around again.

Just need to wait until Trump wakes up .... then news around 7pm GMT one way or another imo.

Off to light the BBQ now.

"SA who don't seem to be able to pull a pint let alone this deal off....."

That's because, negotiation and diplomacy are not a traits that the Saudi's have ever needed .... this is all new to them

Agree, having been there, so sparsely populated .... only the half dozen or so cities with population >100k will need to take precautions.

Donald J. Trump
@realDonaldTrump
·
6m
“I think the situation is unprecedented, and there is no question about that. It’s whiplash! The economy was moving forward at a rapid pace in terms of growth, jobs and even wage increases, and all of a sudden the pandemic hit and the....
Donald J. Trump
@realDonaldTrump
·
7m
....economy was shuttered. This is unprecedented, it is unsettling and challenging but, we will rise to meet the occasion.” MACK MCLARTY, Clinton White House Chief of Staff.
@LelandVittert

@FoxNews
Thank you Mack. We will be bigger, better and stronger than ever before!

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Not without Shale oil and all that goes with it ..... Trump will make this deal happen, one way or another imo

Have you a link, can not see it .... just one from APPO

https://twitter.com/OPECSecretariat/status/1248991193192640516

Aramco OSP will tell us where WTI will end up, or thereabouts .....

almost there ...

https://twitter.com/OPECSecretariat/status/1248991193192640516/photo/1

deal done ....

laidback,

"I could store 0.1 of a barrel at most..."

Don't be too harsh on yourself, where there's a will there's a way ......

Now what were we talking about, oh, yes, getting the deal done... only a matter of time.

Vacating nicely atm ....

laidback,

"Brent will be below $20 soon imo. Storage around the world must be nearing full now...."

Don't worry, plenty of room in your alimentary canal once the contents have been vacated orally.

Probably relates to average over 2 years ....lol

So I would expect the deal to be finalized, one way or another today. Don't want this to drag on to tomorrow.

Oh no laidback is back spouting his RUBBISH once more .....

OPEN 30.5p

Really ..... you have 3 days to DYOR. ....... "The truth is out there", usually in the form of RNS and company website.

Afterwards please come back and query any of your findings

PS Basing any investment decision on feedback from a BB is, well, you know ...... WRONG !!

As mentioned, always, always DYOR.

atb

SNN,

The real issue is OPEC's Statue requires ALL parties to agree, otherwise the proposal is not passed:

"Each Full Member Country shall have one vote. All decisions of the Conference, other than on procedural matters, shall require the unanimous agreement of all Full Members."

Mexico have decided for their OWN interest to not agree to the cuts.

Now afaic, this goes against OPEC's Statute which also states ".. that members of the Organization shall work together to ensure stable oil prices.."

Clearly, Mexico's action in this case contravenes this totally.

Problem is there appears no mechanism to 'let out' one country from the agreement under any circumstance. Hence the Mexican standoff.

All I know is, should Mexico not fall into line, it will be too late to strike another deal, by then storage tanks will be full and the whole industry will have to survive what the world needs day to day. It would probably bankrupt large proportion of the worlds O&G industries. Mexico, thinks because they have an hedge of $49 for some of their production, they will we OK. The Mexican President really has no idea what damage and suffering he will cause for economies and more importantly, the people of the world in this time of needing togetherness.

https://opec.org/opec_web/static_files_project/media/downloads/publications/OPEC_Statute.pdf

Not sure how this will be resolved as the proposed 23% cuts have to happen.

Mexico's President needs a reality check and fast .....

aimo