Member Info for Pelle

Did wti go up 6 usd+?
What happen?

http://ravarumarknaden.se/pris-pa-olja-brent-wti-crude-oljepriser/

https://mobile.reuters.com/article/amp/idUSKBN21Y377

Maybe should consider the 500 mill people that is estimated now to drop below poverty limit in world also.

Time to restart world in a responsible way

https://youtu.be/U2pMkW7EwSc

Rigs down 36 and SP 13,53 p

OPEC
Opec lowers global oil demand forecast for 2020 (Finwire)
2020-04-16 15:16
The oil cartel Opec lowers its forecast for global oil demand in 2020. The reduction is 6.85 million barrels a day. In the second quarter, demand is expected to decline by around 12 million barrels per day, with April being the worst with -20 million barrels.

This is shown in the latest monthly report.

[Table 1]

Stefan Linnér
stefan.linner@finwire.se Finwire
News Agency

Sounds like good news, If they managed put oil back in ground.

GKB, you know pessimist and optimists are equally often right.
But optimists have more fun!
GL and hope you back one day.

GKB,
Assume oversupply is 25 mill now and you close that gap with 5 mill / month.
Can be a realistic scenario in my mind.
You expect oil prices still go down?

Hi Chilting,
Yes we probably at the worst point now with supply demand.
But from here I expect things to start move in the right direction.

Share prices have already started move up since a month or so.
Lundin Energy is up 40% and Enq 70% since bottom.
I read also that Saudi bought shares in Norwegian giant Equinor.

I think an investment in oil now will be very profitable in 1-2 years.
Maybe even more then our wildest dreams

GKB, people can’t sit behind screens and complain forever.
Lockdowns will start to end and more normal life in 1-2 months.
Then demand will quickly pick up

Thanks E,
Almost impossible predict this when both sides volatile, supply/demand.
But my guess is markets fear the worst but that seldom happen and therefor we will see a slow recover this year.
And at some point next year we might even reach a situation there supply can't match demand if life returns to normal.

Any Swede can post text about this.
Think Enquest mention here

https://www.di.se/nyheter/galna-rusningar-sedan-botten-har-ser-strategen-fortsatt-koplage/

Good morning E
Dont you think US will fall even much faster then that?
Down 600k in just one week.
I saw this comment also

Texas Railroad Commissioner Ryan Sitton said on Wednesday that the U.S. would cut at least 4 million bpd in the next three months organically. Sitton said earlier that he was not going to take part in the OPEC+ call today, “but if I were I'd say at least 20mbpd in cuts are needed & the US will cut at least 4mbpd in next 3 mos organically. If nothing is done inventories fill up in 2mos, at which point the world will need to cut as much as 30mbpd.”

Trillions..wish it was our dividend here.

Some say excellent hedge and some say poor, all I know is he's called AB

Bald to bold
Good luck everyone!

Wow YOY,
Not only demand fall of the cliff.
Keep that trend up couple of months

Hello E,
Strong words, it would be interesting know hedge process, think it needs approval or vote by AB/JS so would not blame the guy they hired after last failure.
It’s the common sense that fails, not the intelligence in my opinion.
Anyway, I would expect oil to go really high next time when demand is closer to pre corona levels.
Doubt that shale can put a lid on that rise as so much production will be lost in world.
Let’s save that for later, but my guess is they should hedge less in next phase

Good to see you finally positive GKB