Member Info for ocelot

No clear line of thinking in the US as to how to respond to the current oil market:

https://edition.cnn.com/2020/03/20/business/oil-crash-saudi-arabia-russia-trump/index.html

Another question was submitted in time, re Covid-19:

http://www.angusenergy.co.uk/media/investor-questions/

“Monitoring new infections has become a daily routine for us,” said Maximilian Kunkel, chief investment officer for Germany, at UBS Global Wealth Management in a phone interview. “If we see a peaking in new cases in Europe and the U.S., there will be a very quick turnaround in developed stock markets.” (from a Bloomberg article).

“Monitoring new infections has become a daily routine for us,” said Maximilian Kunkel, chief investment officer for Germany, at UBS Global Wealth Management in a phone interview. “If we see a peaking in new cases in Europe and the U.S., there will be a very quick turnaround in developed stock markets.” (from a Bloomberg article).

https://www.bloomberg.com/news/articles/2020-03-20/tens-of-thousands-are-getting-laid-off-in-the-u-s-shale-patch

This would provide an elegant solution, enabling both Putin and MBS to claim they have achieved something.

Oil held gains as U.S. President Donald Trump waded into the price war between Saudi Arabia and Russia, while a Texas regulator proposed his state could coordinate output cuts with the feuding producers.

Futures in London were little changed after rebounding on Thursday from their lowest level since the early 2000s. Texas’s main oil regulator is considering curbing output for the first time in almost half a century, though the idea is still in preliminary discussions...

https://www.bloomberg.com/news/articles/2020-03-19/oil-holds-firm-on-hopes-for-thaw-in-saudi-russia-price-war

Oil held gains as U.S. President Donald Trump waded into the price war between Saudi Arabia and Russia, while a Texas regulator proposed his state could coordinate output cuts with the feuding producers.

Futures in London were little changed after rebounding on Thursday from their lowest level since the early 2000s. Texas’s main oil regulator is considering curbing output for the first time in almost half a century, though the idea is still in preliminary discussions...

https://www.bloomberg.com/news/articles/2020-03-19/oil-holds-firm-on-hopes-for-thaw-in-saudi-russia-price-war

Many thanks for the update, roganjt.

Last day for this month's Investor Questions - just one to answer so far.

https://www.bloomberg.com/news/articles/2020-03-20/putin-won-t-submit-to-what-is-seen-as-saudi-oil-price-blackmail

in price war":

https://www.bloomberg.com/news/articles/2020-03-18/oil-on-rollercoaster-as-market-grapples-with-giant-demand-shock?srnd=premium

... But in a surprise move Thursday, both the kingdom and Iraq cut the rebates on freight costs they give to customers, effectively lifting prices...

https://www.bloomberg.com/news/articles/2020-03-18/oil-on-rollercoaster-as-market-grapples-with-giant-demand-shock?srnd=premium

https://seekingalpha.com/news/3553450-u-s-may-intervene-in-saudi-russia-oil-standoff-wsj?utm_source=investing.com&utm_medium=referral

Volume was 65.2m shares according to advfn.

It would be in everybody's best interests- if Trump can help, good luck to him!

Asked about Saudi-Russian oil war, Trump said “in one way our consumer is very much helped” by low oil prices but on the other hand it hurts the industry. He said he is trying to “find some kind of medium ground.”

“It’s very devastating to Russia” and it is “bad” for Saudi Arabia as well, Trump said he would get involved at the “appropriate time.”

Asked about Saudi-Russian oil war, Trump said “in one way our consumer is very much helped” by low oil prices but on the other hand it hurts the industry. He said he is trying to “find some kind of medium ground.”

“It’s very devastating to Russia” and it is “bad” for Saudi Arabia as well, Trump said he would get involved at the “appropriate time.”

There's a clarification: not approved by the FDA for treating Covid-19.