Member Info for nhawan

The wider markets experienced a technical bounce after a dropping all day so I wouldn't get too excited just yet. The daily charts are showing that the rise since end of March is slowing down and another possible downtrend may be forming. If COVID cases starts rising after easing of lockdowns then expect a bearish trend.

The fear is definitely still here for those who are at risk and those who have loved ones who are at risk. Those people (including me) will stay indoors whenever possible so I don't expect a huge rush to travel, eat out, etc just yet. The light at the end of the tunnel will come when a working vaccine is approved and starts mass production but that is at least 6-12 months away.
In the meantime the economy is severely in depression in the UK and I suspect others are too.

https://www.bloomberg.com/news/articles/2020-05-11/goldman-says-stocks-due-for-18-drop-after-rally-driven-by-fomo?sref=s0L1qQ1H

Looks like the big boys are ready for shorting stocks very soon.

So because its from Arab News it's fake news? Do you not realize that most Arab press will know more about the OPEC situation than any Western news outlet? What an idiot.

Looks like it will be tough for the OPEC cuts to meet the target when many foreign companies are refusing to comply.
https://www.arabnews.com/node/1670731/business-economy

"One industry source active in Iraq said the companies were refusing the cut and that delays in forming a new government in Iraq were complicating the discussions."

You do realizes BP is up because of the dividend date right? Many will be selling it when the divi date has gone. TLW has no correlation with that.
I reckon we will see a retrace as traders sell up for the long weekend.

When big financial institutions such as MS sell it is wise to be cautious. Possible rights issue/placing may be on the way.

Both of you are looking at July Brent futures. The spot price is actually $27.3
http://www.livecharts.co.uk/MarketCharts/brent.php

So they haven't actually reduced output to the agreed levels yet? You'd think they would have been lowering the extraction rate before the agreed date od 1st May. I bet it will be very difficult for OPEC to police these cuts.

The POO rise has stalled. Are you watching the live price? Brent is dropping at the moment and has probably met a resistance at $32. A signal for traders to take profit.

What's the dividend rate? If someone bought 20K worth of shares what is the dividend amount?

Since the oil price rise seems to have flattened out, I expect tomorrow or later today the profit taking will commence as traders close out for the weekend. Let's see if they try out for one more spike.

As long as POO is around $30 TLW is worth around 23-27p judging by the pre-oil price crash sp of around 50p when oil was at $60. It's simple maths.
This talk of brakouts is just blatant ramping to sucker in more pi's.

GS and others are predicting POO at around $40 by end of year. A long time to go to get there so don't get too upset if this hits a wall at $30. Chances are shorters will be openning shorts rather than closing positions at the current price.

Texas Railroad Commission meeting troday will put a stop to any POO rise imo. Cuts are not likely according to thier commissioner.
https://www.upstreamonline.com/production/proration-proposal-is-dead-texas-regulator/2-1-802426

I suspect the rise over the last few days is to cause a pump with a likelyhood of a dump after todays decision.

If oil settles around $30-$35 then this will not get to 40p. It was 50p when oil was $60 in December 2019. Do the math and you will get a realistic sp value for the current oil price. The fundamentals haven't changed much since fall of last year except the reduction in assets.

Perhaps not the best idea while the spot price of Brent is dropping. Potentially this could dive since there has been bad news today such as the thousands of airline job losses and poll results showing the public will prefer stay at home even after the lockdown is lifted.

babusabu,
If you read the Nov/Dec RNS's you will find that the sp dropped to 50p because of reduced guidance due to lower than expected production from some assets. This was a few months before the oil crash.

Maybe because it's not worth 100p just yet even if POO recovered to $60. Before the oil crash TLW was around 50p. Now oil price is $26 so sp should be around 19p.

Took profit first thing. The share is worth about 30p at POO of $30 so best to jump in and out when it hits near it's value.
Drop back as profit taking sets in.