Member Info for ocelot

MOSCOW (Reuters) - Russian President Vladimir Putin and U.S. President Donald Trump discussed oil and the spread of the coronavirus in a phone call on Monday, and ordered their energy ministries to hold further talks on global oil markets, the Kremlin said.

The Kremlin did not say what exactly the ministers would discuss, but Moscow has previously signalled it would like to see more countries joining efforts to balance global oil markets following the collapse of its deal with OPEC earlier this month...

https://uk.reuters.com/article/uk-oil-opec-trump-putin/putin-trump-order-their-energy-ministers-to-discuss-oil-kremlin-idUKKBN21H2QE?il=0

WASHINGTON (Reuters) - President Donald Trump said on Monday he plans to speak with Russian President Vladimir Putin and that Saudi Arabia and Russia “both went crazy” in their oil-price war, a battle begun just as the spread of the coronavirus around the world drove down demand for oil.

“I never thought I’d be saying that maybe we have to have an oil (price) increase, because we do,” Trump said in an interview with Fox News Channel. “The price is so low now they’re fighting like crazy over, over distribution and over how many barrels to let go.” ...

https://www.reuters.com/article/us-oil-opec-trump/trump-plans-to-speak-with-putin-criticizes-russian-saudi-oil-price-war-as-crazy-idUSKBN21H216

All resolutions passed.

https://uk.reuters.com/article/uk-column-russell-health-coronavirus-cru/column-coronavirus-demand-hit-renders-opec-trump-manoeuvres-irrelevant-idUKKBN21H174

https://www.bloomberg.com/news/articles/2020-03-30/first-north-american-refinery-shuts-with-fuel-demand-plunging

There was a 2nd buy on 27/03, too (read the RNS too qucickly!)

Another Bilgin purchase: 70,761 at 1.008856 on 26/03.

Another Bilgin purchase: 70,761 at 1.008856p on 26/03.

The six-month spread for Brent was at a contango of more than $13 a barrel after closing at the widest gap since late 2008 on Friday. (Bloomberg)

That is, the spot price is under pressure, but 6 months out prices are much more encouraging.

https://www.aljazeera.com/news/2020/03/rockets-intercepted-saudi-capital-riyadh-jazan-report-200328212702883.html

https://www.bloomberg.com/news/articles/2020-03-28/pipelines-ask-u-s-oil-drillers-to-curb-output-as-tanks-fill-up

Intriguing, isn't it?

https://www.bloomberg.com/news/articles/2020-03-27/one-corner-of-u-s-oil-market-has-already-seen-negative-prices?srnd=premium-europe

https://uk.reuters.com/article/uk-russia-rosneft-venezuela/russias-rosneft-terminates-venezuela-operations-idUKKBN21F0V4

From Bloomberg. Interesting , gesture towards the US on the part of Rosneft (?) (but not of the Russian government).

Rosneft has stopped activity in Venezuela and is selling assets related to its business in the South American country, the Russian oil producer said in statement on its website.

Rosneft on March 28 signed an agreement with a company, owned by the Russian government, to sell its stakes in joint ventures in Venezuela including Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria; deal also included oil services and oil trading operations

From Bloomberg. Interesting , gesture towards the US on the part of Rosneft (but not of the Russian government).

Rosneft has stopped activity in Venezuela and is selling assets related to its business in the South American country, the Russian oil producer said in statement on its website.

Rosneft on March 28 signed an agreement with a company, owned by the Russian government, to sell its stakes in joint ventures in Venezuela including Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria; deal also included oil services and oil trading operations

Gone AWOL.

Wrong board - apologies!

Gone AWOL.

... For the oil market, the key question may be what gives first: The debt-laden U.S. shale producers or debt-laden emerging market governments.

“Cost of production counts for the U.S., but for OPEC nations it comes down to social cost more than production cost,” says Olivier Jakob, managing director of oil consultancy Petromatrix. “OPEC can have short oil price wars but not long ones as otherwise the social fabric disintegrates and puts the different regimes at risk.”

https://www.bloomberg.com/news/articles/2020-03-28/petrostates-hammered-by-oil-price-plunge-and-pandemic-s-spread