Member Info for oiluser

"End of Chinese communist party" and I'm clueless.

He told everyone it was the fkn flu. Is that because the Chinese told him that? He wanted to keep the economy operating which he failed to do. Now hes trying to strong arm the Russians into an oil cut, it wont happen without him telling the TRC to cut production.

As for court cases, good luck with that. They will have more luck winning a court case against "CDC" & "WHO" that incidentally his administration cut funding to both in previous years. Chinese advised everyone in January, before they walled in Hubei. And coincidentally the Chinese informed all that hydrochloroquine was successful in some patients generally under age if 65, with severe side effects in some also including blindness and in some cases death. Encouraging the piracy of bought and paid for medical ppe and equipment is going to lead to some class actions too. I wonder will Jared be as teflon as his papa inlaw, then again hes operating under instruction from the "leader of the free world".

Doomed doomed doomed. The Don achieved in 6 weeks what the Soviets couldn't achieve in 50 years.

Of course hes bought, like all his predecessors. Hes presided over numerous bankruptcies and will over the biggest of all. When this is done US national debt will have jumped by a 1/4 in 6 months, essentially the US will be paying 1 trillion a year in interest. And hes been at the root of that with his firing Whitehouse experts in epidemics 2 years ago and bring so ignorant as to call the CV pandemic a flu.

Trump is good covering arse mostly by redirecting blame but there ain't anything gonna help him here. Hes doomed, and all because hes a big mouth that cant keep his tweeting fingers in check.

I think we got the jist

Personally I dont see a deal being done this week because the US has to eat humble pie and acknowledge the existence of OPEC+ and join in oil cuts before Russia will cut. And that's a tall ask in my opinion. There will be a deal, just not yet. In any event a good deal now will be sold on as it takes time to restart the engines of the world economy. The same deal in 2 or 3 weeks time will have more chance of effecting a solid rise in oil prices that can be maintained. For Russia and Saudi it means an additional 100 rigs gone from the patch.

What has trump actually delivered. In general he is good at taking credit for others works. He also delivered covid 19 to the us on a plate and called it the flu despite warnings to the contrary. He has now managed to deliver a crashed economy, -10million jobs and a DOW below where it was when he took office.

That should read "back to 10mbod"

Jbatch, you read too much western junk

Petrodollar is under huge pressure, when countries like China and India want to trade with their suppliers in own currency then the end is nigh for dollar dominance. Russia burning through nothing, the collapse in 2015 was more severe and lasted longer. SA will have to halt or scrap their transition plans. The US will continue to subsidize shale, to allow wall street banks to withdraw in orderly manner. US production figures going to collapse, its what happens when the rigs are removed. Production had stagnated anyway at 60. Will see another 100 rigs gone in next month or so. Couple the rig losses with well depletions and it wont be that long before the us is back to 1mbod. That 3mbod will be made up from somewhere.

The argument that rigs will pile back in when oil is 60 is not a given, not without the bail out as wall street wont comeback in as before. People need to remember that there are 50billion in debt due this year, and 100billion next year.

Energy independence for US policy is very expensive and comes on the back of military efforts to cut out cheap producers like Iran and Venezuela. Market economics with strong arm tactics.

Personally I hope that Russia tells SA and US to fcuk off, and to sort the mess out between themselves. It will delay price support but it will hammer shale out of market in longer term.

Thefuturetruth

Its not May, have you taken the isolation thing a tad too seriously.

Lift costs are the same for each, probably a bit cheaper for Russia now with recent ruble weakness. Moodys only last week pegged Russian sovereign wealth fund at half a trillion mostly in gold and euros etc. Dollar dumped over past 3 years

If this SP is 50p and acquisition goes ahead as planned how many new shares will be issued to cover the transaction. It's a perfectly fair question. Can anyone do this math for 25p, 50p, 75p and 100p?

Who would need dollar reserves when they were dumped for gold, Russia not having to play ball ever again for petrodollars. I suspect one outcome from this CV will be the end of the petrodollar over time, that's been russias game for years. Prodding Saddam, khomeni, Mauro, Gaddafi to push the agenda. Game is up on dollar dominance, it's amazing what the theft of face masks and ventilators from allies accomplishes.

Should say, traderboy. Please explain? Sorry pilgrim.

Pilgrim, please explain?

Megla, it was too low. RBL is good news, CEO and asset disposals will bring reality here. CV is the unknown for oilprice

Baysils the man, or woman. Hes God on here

Far more important if Sam is buying, and he is.

Yeah, and let's sue the US for their murderous illegal wars. Lets sue the UK too, and those arse holes in the EU and Aus/Nz that supported them.

Shale was up the klacker when oil was hovering around 60 brent, now rigs demobilizing at fast track rate. Shale production going to fall rapido, and it all depends on whether the subsidies (wallstreet) will restart as to whether rigs remobilize post CV crash. You are forgetting that no one was making money before and that borne out by the top 40 shale producers not being fc positive in 14 quarters. Shocking business model akin to something the old Soviets would call a success. Certainly bucks the trend re capitalism. All technology savings applied and all sweet spots drilled and still not profitable. The only benefit of shale is that it kept a lid on global oil prices which benefited other areas of the economy. So I suppose in some respect shale has value but the specific business model is classic debt trap.

Hes 13% now, I'm doubling my holding at anything below 15p, the lower the better. Tlw receipts as result hedging were 30million in March alone

RockRose hedged 455,000 barrels of oil hedged at $65.70 per barrel for Q1 2020,

They badly need a deal for qtr2, 3 & 4. Otherwise they look healthy enough looking at headline figures and no detailed analysis. 30be is nice but points to no projects, what are OPEX costs / Bbl