Logo
Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome to ShareScene - Talk Shares And Take Stock With Australia's Sharemarket Community - New Here? Click To Register >

Important Notice For All Members - ShareScene Is Moving

444 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

OIL, Discussion
blacksheep
post Posted: Dec 5 2018, 06:36 PM
  Quote Post


Posts: 5,115
Thanks: 2044


The Saudi dilemma: To cut or not to cut
Oilprice.com
QUOTE
A recent report from Capital Economics said Saudi Arabia has its problems but it could withstand lower oil prices without feeling too much of a pinch. "Even if [Brent] prices fall further to $40-$50 a barrel, immediate balance of payments strains are unlikely to emerge," the report said, with its authors adding the Kingdom would be able to finance its trade deficit from its foreign exchange reserves "for at least a decade."

This suggestion is not universally accepted. Reuters' John Kemp this week offered a different perspective in his regular column on oil, noting Saudi Arabia's foreign exchange reserves currently stand at US$500 billion, down from nearly US$750 billion in 2014 when the oil prices slumped under the weight of U.S. shale oil. At the same time, Saudi Arabia is in a major push to diversify its revenue streams and has committed a lot of money to it. It's a classic rock and a hard place situation for the Saudis.

Also, Kemp wrote, "The kingdom probably needs to keep several hundred billion dollars' worth of reserve assets on hand to maintain confidence in its fixed exchange-rate peg to the U.S. dollar and prevent a run on the currency."


read more - http://www.mining.com/web/saudi-dilemma-cut-not-cut/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 24 2018, 03:17 PM
  Quote Post


Posts: 5,053
Thanks: 1880


Oil prices drop … again
QUOTE
Brent crude prices dropped 1.5 per cent overnight to $US62.52 a barrel — around its lowest price since February.

The international benchmark price fell after US crude production jumped to its highest level since December 2017, fuelling concerns about the global oil market being oversupplied.

Last week, US inventories totalled 446.9 million barrels — following an increase of 4.9 million barrels.

The Organisation of the Petroleum Exporting Countries (OPEC) is also worried about the emergence of a glut.

OPEC's biggest exporter, Saudi Arabia, is being pressured to not slash its output, which would oil push prices higher again.

"Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy!... Thank you to Saudi Arabia, but let's go lower!" US President Donald Trump tweeted on Wednesday.

To counter the oversupply concerns, OPEC is considering a deal to cut production when it next meets on December 6.

However, OPEC member Iran is expected to resist any voluntary reduction. Russia, an ally of OPEC, has also shown no sign it would join any cut.
- ABC/Reuters



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Nov 22 2018, 09:19 PM
  Quote Post


Posts: 5,115
Thanks: 2044


Global oil demand under growing threat from electric cars, cleaner fuel
Reuters
QUOTE
Demand forecast raised by over 1 mln bpd vs last year

* But electric cars, fuel efficiency to have bigger impact

LONDON – Electric vehicles and more efficient fuel technology will cut transportation demand for oil by 2040 more than previously expected, but the world may still face a supply crunch without enough investment in new production, the International Energy Agency (IEA) said on Tuesday.

Oil demand is not expected to peak before 2040, the Paris-based IEA said in its 2018 World Energy Outlook.

The IEA’s central scenario is for demand to grow by around 1 million barrels per day (bpd) on average every year to 2025, before settling at a steadier rate of 250,000 bpd to 2040 when it will peak at 106.3 million bpd.

read more - http://www.mining.com/web/global-oil-deman...s-cleaner-fuel/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Nov 14 2018, 04:30 PM
  Quote Post


Posts: 5,053
Thanks: 1880


QUOTE
- U.S. crude is plunging from nearly four-year highs six weeks ago to its lowest level since early December.

- The market outlook has changed: Investors were worried about a shortage of oil, but now expect supply to outstrip demand.

- Investors dumped risk assets like crude futures during a broad market sell-off last month.
https://www-cnbc-com.cdn.ampproject.org/v/s...ear-market.html



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: Nov 14 2018, 04:09 PM
  Quote Post


Posts: 12,240
Thanks: 1281


https://www.cnbc.com/2018/11/14/oil-markets...y-in-focus.html

Most analysts expect U.S. output to climb above 12 million bpd within the first half of 2019.

"This will, in our view, cap any upside above $85 per barrel (for oil prices)," said Jon Andersson, head of commodities at Vontobel Asset Management.

The surge in U.S. production is contributing to rising stockpiles.
=============

can't understand why the heck some major firm talking about usd$100/b not long ago??
a lot of people knows that when WTI over usd$55/b then most of US shale oil will make money hence the rig count will serge if oil stays above $55/b longer than two months
as the result----oil market washed with US shale oil now that whacked oil market . wink.gif





 
blacksheep
post Posted: Nov 11 2018, 03:18 PM
  Quote Post


Posts: 5,115
Thanks: 2044


Saudi Arabia, Iraq Agree on Coordination Ahead of OPEC+ Talks
By Grant Smith , Mohammed Sergie , and Elena Mazneva
November 10, 2018, 11:01 AM GMT+11 Updated on November 11, 2018, 11:01 AM GMT+11
Joint Ministerial Monitoring Committee meets Sunday for talks
Brent futures fell almost 4% last week, WTI lost around 5%

QUOTE
OPEC and its allies meet under mounting pressure to consider renewed production cuts after a slump in oil prices. Crude on both sides of the Atlantic tumbled Friday as the U.S. reported rising stocks and Washington granted waivers that lessen the impact of sanctions on Iranian exports. Brent plunged below $70 a barrel for the first time in six months, shedding 4 percent last week. WTI futures also tumbled, losing around 5%
.
https://www.bloomberg.com/news/articles/201...to-talk-of-cuts



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Nov 2 2018, 06:44 PM
  Quote Post


Posts: 5,115
Thanks: 2044


Oil and gas giants hit with $6 billion tax hike
By Eryk Bagshaw & Cole Latimer
2 November 2018 — 4:51pm

QUOTE
The government went further than some in the industry were expecting on Friday by declaring current projects would have previous exploration concessions used to offset future profits crimped from 2019, despite industry threats that would put investment at risk.

Uplift concessions that allow companies to deduct the cost of risky exploration against future profits will be cut from 15 to 5 percentage points plus the long-term bond rate from July, bringing it into line with less high-risk projects.

"All along industry has been saying don't touch current projects," said Monash University PRRT expert Diane Kraal. "These changes will effect existing projects which I think is a pretty good compromise."

The 30-year-old Petroleum Resource Rent Tax was designed to encourage investment in Australian gas and oil exploration by giving generous tax concessions for projects that can take years and billions of dollars to materialise, but produce very large profits once they are up and running.


read more - https://www.smh.com.au/politics/federal/oil...102-p50dn6.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 26 2018, 11:58 AM
  Quote Post


Posts: 5,115
Thanks: 2044


Shell and Eni face one of the biggest corruption cases in corporate history over $1.3bn Nigerian oil field

QUOTE
Giant oil companies, offshore accounts, ex-MI6 agents, champagne lunches, a former Nigerian president and allegations of hundreds of millions of dollars paid as bribes – the corruption case against Shell and Italy’s Eni filed by prosecutors in Milan over a shady $1.3bn deal for a vast African oil field has could have been lifted from the pages of an espionage thriller.

The latest developments thicken the plot further with a cache of documents seized in a raid on a Swiss financier’s apartment that could be crucial to the case, leaving prosecutors in a race against time to get them to Milan as trial hearings get underway this week.

The Geneva raid uncovered a briefcase belonging to Emeka Obi, a middleman who received millions of dollars from the deal and is in the dock along with several former Shell employees and current and former Eni executives.

Inside the briefcase, Swiss prosecutors found a laptop, two Nigerian passports, five sim cards and a hard drive containing 41,000 documents that prosecutors believe could be crucial to the trial playing out on the other side of the Alps.

The stakes are high. Italian prosecutors allege that, of the total $1.3bn fee paid by Shell and Eni for the oil field, $1.1bn went not into the coffers of the Nigerian state but the accounts of former oil minister Dan Etete who then distributed hundreds of millions to well-connected individuals, including former president Goodluck Jonathan.

The amount distributed as bribes is more than the entire Nigerian healthcare budget for 2018, in a country where 87 million people live in extreme poverty – more than any other country on earth.

The Geneva apartment belonged to Olivier Couriol, a former Credit Suisse banker who has been named in two other international corruption cases.

He is under investigation for his role in a separate deal that involved Airbus allegedly paying bribes to sell defence equipment to the Malian government and has been named in proceedings that saw former Credit Suisse money manager Patrice Lescaudron jailed in February for fraud that cost clients £110m.


read more - https://www.independent.co.uk/news/business...l-a8537506.html?



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 25 2018, 10:56 PM
  Quote Post


Posts: 5,115
Thanks: 2044


Is The Oil Burden A Rising Problem?
This guest commentary was written by Daniel Lacalle.
extract
QUOTE
While markets become increasingly bullish, oil prices are close to a “warning zone” where the barrel could be one -if not the only- catalyst of a major slowdown.

In my book “Escape from the Central Bank Trap,“ I explain the concept of the “Oil Burden”. It is the percentage of global GDP spent on buying oil. It is often said that when the oil burden reaches 5-6% of GDP it can be a cause of a global slowdown.

read more - https://app.hedgeye.com/insights/70388-is-t...st-contributors
Attached image(s)
Attached Image

 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
mullokintyre
post Posted: Sep 24 2018, 09:23 PM
  Quote Post


Posts: 1,615
Thanks: 576



From Bloombergs


QUOTE
Major oil trading houses are predicting the return of $100 crude for the first time since 2014 as OPEC and its allies struggle to compensate for U.S. sanctions on Iran’s exports.

With Brent crude already jumping to an almost four-year high on Monday, that’s exactly the kind of price surge President Donald Trump has been seeking to prevent by pressuring the Organization of Petroleum Exporting Countries to raise production. Yet the cartel and its allies gave mixed signals at a meeting in Algiers on Sunday, ultimately showing little sign they would heed U.S. demands to rapidly push down crude prices.


Mick





--------------------
sent from my Olivetti Typewriter.

Said 'Thanks' for this post: nipper  
 
 


444 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING