Member Info for nhawan

The US is not gonna cut anything. Trump is trying to get something out of Mexico and also fool OPEC. Saudis should just walk away. How on earth are the US gonna regulate how much oil each company outputs? There don't have the control.

The drop was due to lowering of guidance back in Nov/Dec. Some of their fields output was lower than expected. Remeber that the sp was around 50p when POO was $60. Now it;s 25p when POO is $30. You can figure out from this that a POO of $40 will not get a higher sp than 35p.

Lol Russian troll. I'll have some of what you have been drinking.
Comrade, Is the GS forecast a Russian propaganda? Keep sticking you head in the sand mate.

Even if the deal is confirmed the actual figures will not impress the markets at all.
A table from Goldman Sachs showing what the actual cut will be and it's around 7.5m, half of what the markets would accept as positive.

https://twitter.com/GrecchiLuigi/status/1248894333257953280/photo/1

OPEC are using April's output levels as a baseline which is an all time record output level. Cutting from there is not going to make much of an impact due to the low oil demand.

Prepare for a red Tuesday deal or no deal.

That was before the actual G20 meeting. The actual announcement is going to be seen as negative for the markets since they are apparently not going to state the numbers for the non-OPEC cuts. Most likely they couldn't get the US to guarantee any real numbers.

https://twitter.com/Amena__Bakr/status/1248683532857245696
"The G20 statement will not include numbers for how much each state outside the opec plus group will cut #OOTT"

According to this article the deal has failed...

https://sputniknews.com/world/202004101078909625-failure-to-reach-new-opec-output-reduction-deal-extremely-disappointing---us-official/

Whether that is true or not we will find it very soon as other outlets pick it up.

The cuts are gonna be less than 12m by the looks of it. Even Mexico has scammed it and said the US will cut 250K fror them which is BS since the US can't regulate private companies. And since when has Trump become Mexico's best mate?

The cuts won't come into affect until May which means POO will be lower on Tuesday. Expect TLW to dive below 20p when markets open. It was already struggling on Thursday and only help up in anticipation of the meeting. Too many people sitting on 200%+ profit means there will be selling to crystallize it.

The cuts are gonna be less than 12m by the looks of it. Even Mexico has scammed it and said the US will cut 250K fror them which is BS since the US can't regulate private companies. And since when has Trump become Mexico's best mate?

The cuts won't come into affect until May which means POO will be lower on Tuesday. Expect TLW to dive below 20p when markets open. It was already struggling on Thursday and only help up in anticipation of the meeting. Too many people sitting on 200%+ profit means there will be selling to crystallize it.

The US is only paying lip service to this deal. Guaranteed no cuts will be made by any of their companies since they don't have any law to force them to make cuts. It's a free market. They will sell whatever they can as oil price increases.

https://mobile.twitter.com/amena__bakr?lang=en

Amena Bakr
@Amena__Bakr
·
13m
Listen up. This is what they will discuss now. A 10-12 million bpd cut from May to June #OOTT

Not as high as some are expecting.

The US and Canada are not even taking part in the meeting today but will join the G20 meeting tomorrow. The US is not going to cut in any case since their oil comapnies are private and cannot be controlled by Governement. Their cuts will be naturally enforced by the low oil price.
The OPEC cuts are predicted to be between 10m-15m. Markets want more than that and it is not likely. Nothing will be announced until after the G20 meeting tomorrow.

yeah yeah forgot about the Monday cause I have to go to work damn.

This is what's gonna be the decider once this opec deal anticipation is done and dusted. The markets will focus on the real drivers of oil demand. Not some superfluous gesture of cuts that will do nothing much since they were forced to produce less anyway.
I reckon the oil shares will drop on Monday after the news has been digested over the weekend.

Brent is $34 right now yet this share is struggling to stay above 26p. What makes you think $35 Brent is gonna make it double?
As it stands, the charts show it will either dive to around 15p or perhaps stay around 20p-30p once the OPEC meeting is over.
OPEC needs to make a deal in the 15m+ range to give the market a positive outlook. Don't get your hopes up. Derisking is probably the best strategy imo.

30p may take a while by the looks of it. The way this is behaving suggests it will dive whether the deal is done or not. To many traders with more than 200% profit means selling is intense.

Notice how no trade outside the auction was higher than 27.5p. The moment is gets to that resistance there is lots of selling. Will be tough to push higher without some news. OPEC deal may causes a rise but usually people sell on news.
PMO dropping now so this will follow even quicker.

This is barely holding up so i sold first thing. TLW is too shaky right now so took the small profit from yesterdays buy in. Many are sat on 200% gains who can and will take it down quickly.

I think some are just faking ignorance to try and spread fear. If anyone doesn't know what a UT is they should not be trading at all.
Check out the 14.4m trade at BP then decide what that was.

If that news is true then we will get an RNS imminently. Someone may have leaked it to the press as can happen in many unregulated countries.

Looks like 25p was the bottom as expected. It has been slowly but surely ticking up for the last 2 hours. Potential fireworks in the afternoon as people get in for the OPEC news tomorrow.