Member Info for The-Hat

Sounds like MExico is being used as a scapegoat, so hearts aren't really in it, or imo they are just procrastinating and ###k swinging. No country can seriously use Mexico as an out.

Mexico is insignificant 2.5% of worlds production and 1-2% of total projected cut. Why are people getting their knickers in a twist over Mexico. Am I missing something?

Mexico is insignificant 2.5% of worlds production and 1-2% of total projected cut. Why are people getting their knickers in a twist over Mexico. Am I missing something?

Mexico produce 2.5% of thw worlds production. I don't thay can have a significant impact globally based on wheter they cut or not. A bit of a push to day mexico are going to f*** it up.

I'd say £250 an hour is chicken feed compared to the lease rates or finance airlines might have with zero revenue when sitting on the ground.

Must be 250 in the air over the US lol..normally 44000 a day.

JET A1 market in uk is down 75% I would imagine it's similar around the world.

We will find out tomorrow if its panic or not.

It's an opinion take it or leave it no agenda. I'm sure your smart enough to see through any bs.

New on here and only recently started trading and someone who works in the industry (downstream). So maybe a logical perspective that isn’t tainted from past experiences.
Domestically the UK market is on the floor, Jet market down 75% and forecourts not far behind. Ships are queuing up in estuaries and harbours all over the world because terminals cannot take delivery as their stocks have not been depleted sufficiently as they ordinarily would have.
Traders are filling up Storage tanks and ships all over the world with cheap oil for several reasons. avoiding demurrage charges from shipping because they can’t take delivery as well as hoovering up cheap oil for future profits.
So whether oil producing nations decide on a cut or not doesn’t matter in the medium term as consumers have all but disappeared and storage facilities and shops will all be full so they will have nowhere to pump their oil so cuts will be forced.
Storage filling up isn't a problem in itself it’s that there filling up with cheap oil which will then flood the market when demand returns making easy money for traders and depressing oil price for longer. It becomes less of an issue if those tanks have been filled with $45 a barrel instead of $20.
In short I feel big cuts are coming maybe even tomorrow, as they are only in control if they decide to cut rather than forced too.
Just my opinion. Might be naive and off the mark but not without knowledge.

Sanp, me too, Only started trading the last few weeks, mainly due to not having capitol to use.
Have been buying and selling Tullow a few times afraid to hold on to them for any period. Sold them last Thursday, bought them back on Friday lol. Then sold my Shell shares and doubled down at 15p brakaing all the rules i set myself. Happy days.