Member Info for NewKOTB

So OPEC are asking Mexico to cut by 23% for just 2 months from May 1st, and POO is expected to bounce 50% if Mexico say YES.

errrr .... Is it just me, or does not cutting make no financial sense at all ?

So OPEC are asking Mexico to cut by 23% for just 2 months from May 1st, and POO is expected to bounce 50% immediately if Mexico say YES.

errrr .... Is it just me, or does not cutting make no financial sense at all ?

And Mexico are only be asked to do the 23% cut for 2 months ffs ..... overall works out at average of 12% cut over 12 months on a sliding scale... same % cut required by all members.

And they could probably achieve that 23% by doing a shutdown for annual maintenance. !!

"And Mexico are only be asked to do the 23% cut for 2 months ffs ..... overall works out at average of 12% cut over 12 months on a sliding scale..."

And they could probably achieve that 23% by doing a shutdown for annual maintenance. !!

And Mexico are only be asked to do the 23% cut for 2 months ffs ..... overall works out at average of 12% cut over 12 months on a sliding scale.

Correction 23%

PnT,

Need to get your facts right ...... all, that is ALL OPEC+ are going to cut 22% each and everyone !!! only Mexico want to cut their by <10% ....

12 noon GMT ..... REALLY need +ve news re cuts from G20 and of course Mexico and itS mad hatter of a president to come on board too.

I can only guess one of two things, either Mexico want something in return, probably from America later today's G20, or they are beyond dumb !

OPEC want Mexico to agree to cuts ... so far they have only offered 100kbpd cuts (required to cut 400kbpd) ... America imports 650kbpd, so just get trump to wack tariffs onto these.

Now is the time for the world to strong arm Mexico into agreeing their cuts ...... Do they not know what will happen if they don't !

Now is the time for the world to strong arm Mexico into agreeing their cuts ...... Do they no know what will have if they don't !

Amena Bakr
@Amena__Bakr
The opec plus will not be contingent on the G20 cuts - source #OOTT

Amena Bakr
@Amena__Bakr
Good news! They reached an agreement to cut 10 million bpd for a 2 months period #OOTT

So it would follow, that for SB / CFD holder that are over exposed, the need to sell a proportion or all as they didn't have the funds to cover 100% their position should it be required. That would explain the last minute selloff but only if you were in the know of course or didn't want to risk the RNS dropping on Tuesday.

Not 100% sure, afaik, you may be asked to fund down to 0p, ie 880p for each SB open ( need to check with your provider). When the deal is completed, your account is then credited in accordance with the deal .. ie 1500p for each SB opened. Though as I said this process could take months to complete, hence lock-in your capital.

No de-list, ie taken private not suspended which happened with Marathon.

Plus any SB or leveraged accounts may need to be funded down to zero whilst the deal is completed.

OM,

All other oil producers PMO, ENQ, SQZ, TLW, HUR etc all finished well into the blue, in fact yet to find one other decent company than us being red ..... we were on for a close of +5% ( even that rise was poor) until the last 30 minutes when there was a sudden drop that didn't abate, over a -12% swing down .... mighty strange. No real reason, just literally 'out of the blue' ... into the red !

Maybe if we de-list that would lock in people funds for months and months .... maybe that is the reason !

Don't think anyone expected that finish tbh.

Amena Bakr
@Amena__Bakr
·
1m
Things are getting a bit chaotic I’m told.... some ministers are asking that Russia and saudi bear the “deeper cuts” they are proposing #OOTT
Amena Bakr
@Amena__Bakr
·
4m
There’s some tension at the moment....seems like Saudi Arabia and Russia agreed on a deal before the meeting and now want a deeper cut from all... lots of push back #OOTT

Amena Bakr
@Amena__Bakr
Ok so the May- June cut for this year will be a cut of 22% of output for opec plus states #OOTT #opec