Member Info for oiluser

They hedge a lot, I remember 40% being we quoted. Considering January and most of February were above 50 not sure how much is used

Wars fought for less,

Funnily enough there are 3 upticks, not necessarily because they do or dont agree but they know that there are 2 sides to every **** show. And £2liter oil is maybe what we deserve for our unrelenting and unwavering efforts to shape everything how we see it. One size dont fit all tavarish.

Hows your 88 holding?

Let's see who evaporates first, the fact that the US is threatening tariffs and already proved worthless sanctions says it all. The system is cracking, it's been on the cards for years. The US will come out of this debacle with 30trillion debt and debt to GDP ratio of 125%. Up there with the other insolvent nations of the world.

Oil will still be the most traded commodity in the world. Russia will trade with India and China and the dollar wont be the settlement currency as its heading to the shxtter.

Only thing I give a rats arse a out is what my shares do, if they are at 10p next week I will double up. If 15p i will at 50% etc like the good little capitalist that i am. Blood in the streets and all that malarkey.

The fact i can see the other side of the argument means I get a better understanding of the world, the fact you see only your side cripples you somewhat because you are not prepared for the challenges.

Recession coming, that's a gross understatement. Recession is here. More likely its gonna have to have a new terminology because this is unprecedented. Inflation going to shoot up, dollar gonna drop and oil going to rise.

Das va danya tavarish

Your unstable if you think Putin is unstable and trump isn't.

Putin couldn't give a rats arse if trump levels tariffs on SA oil, Russian oil will find a home in China or etcetcetc. Trump played the ultra polarized planet card 3 years ago, and in doing so hes brought about more division than since the second world war. Putin, plays a long game and the fact he seeks to exploit the divisions created by us foreign policy is only because there are cracks opened by the us and tbh what does Putin owe us. Since 1945 its been the idea of every administration and western govt to attack Russia at every opportunity. Roll on 1990 and the capitulation of the old SU but that wasnt enough and the encroachment on its borders has been incessant. Why? Dont give me the horse**** about freedom and democracy. What ******. In 1990 the west and in particular the us thought they were going to go in and pillage the fkn place like they want to do with vz, Libya, Iraq, Iran but along comes Putin to replace the schizo Yeltsin and its game on again.

Putin is clever, popular and he exposes the western hegemony for what it is. Actually he doesnt, he sets the stage for these fkrs to expose themselves.

Anyone with a notion that Trump or US is acting on their behalf are deluded.

US can cut 5 mbod and that will support oil prices and place them in the same league of price fixers as all comers Russia and OPEC. What a turn for the books.

Oh dear,

Spot on, Mexico is bargaining for something. They are playing their hedge card and rightly so

Not likely, they dont have enough reserves for uncle Sam to plunder, and too many Mexicans infiltrated into us political system. Not to mention they number in 50million direct and indirect decendents.

Yes, we need to get back on the work horse. That is a certainty. Old and sick need to be careful, even stay home till summer

They are just bargaining, all are at it.

That's take a long time to find a vaccine

If you go back to sleep maybe the US will agree to some more.

The aim of lockdown was to buy time, we need badly to reopen economy. Your post looked like you were against lockdowns. If my assumption was wrong sorry.

I'm in 2 minds on it all, but it will take a long time to find a virus. I reckon we need to move out of lockdown in coordinated manner when the numbers in ICU drop and the new cases drop. But it will revive the virus, and we will have to live with it for some time to come. Vaccine hasn't been found for SARs in 17 years, not sure if they were looking for one. Its was less virulent but more deadly. Treatment is the key here.

The US and ony the US is crying to OPEC to CUT

instructing the cartel to act, they have. Now it's up to the rest. I think there are some real smart chappies in the meeting room yesterday. They offered 50% of the required cuts and they produce 40% of the oil consumption, it's now on the US and others to find the balance between them. Will they?

I'm not short, I'm in at 19p.
Buying more on opportunity for sure.
US production will drop by 4mbod this year, by next week it will be almost 1mbod already. It is anticipated that the 4mbod could occur by end of may according to some but my guess is more slow drop. Theres going to be some serious carnage amongst shale because their dammed if the do and dammed if they dont. They have 40 billion due in debt repayment this year, last year they struggled with 15billion, and were issuing shale bonds. Oil was mid 50,s average. You could say that Corona virus done shale in.

This is better than the alternative I assure you, we have orderly lockdown or disorderly lockdown. It was a no brainer.

I think you may be missing something zorro

I think the numbers might be much much higher if we hadn't made a big deal of it

Instead of 1.5million cases we would now have 15 million or 150 million, which would present 750k to 7.5million dead in the time frame. There would be a complete break down of health system, bodies lying in the streets and I'm sure we would have serious law and order issues

But fk it, what's a couple of sickies or oldies

That's 110 billion due 2021!

Putin happy with $42 and change. In the US unconventional 40/45 maybe enough for producing wells but not really enough for drilling and completion I would have thought. Maybe it's a lifeline but cant see it doing much for drillers or banks. And certainly not enough to pay due debts of 40billion this year and 110 million due next year, 55$ a barrel was a problem for the 15 billion due last year. Maybe the price is good for orderly debt repayment if capex cut to 0.