Author Topic: OIL RISE AGAIN - new topic to cheer you up  (Read 29651 times)

Offline Joe99

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OIL RISE AGAIN - new topic to cheer you up
« on: January 15, 2015, 09:02:34 PM »
 :) :clap: :thumbsup: :handshake: :cash:

GONG XI FA CHAI :party: :dancing: :hi:

Brent USD50.34 +0.48    (+0.96%)
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Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up brent up 2.5% - a loons
« Reply #1 on: January 15, 2015, 09:20:28 PM »
Brent USD51.06 +1.20    (+2.41%)
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Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up -now brent up 4.2% - abalone?
« Reply #2 on: January 15, 2015, 09:45:33 PM »
USD51.95 +2.09    (+4.19%)
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WHERE IS GOOD ABALONE? :) :thumbsup: :handshake: :cash:

Offline golex1306

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #3 on: January 15, 2015, 09:51:50 PM »
Keep calm and stay invested  :handshake:

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #4 on: January 15, 2015, 09:56:25 PM »
Keep calm and stay invested  :handshake:

Correct correct correct  :hi:

Right right right  :nod:

The one who succeeds is : Where others see risk, he sees opportunity  ;)

Offline Bryan_x00

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #5 on: January 15, 2015, 10:17:13 PM »
tmr panic buy o&g counter?

Online DR KIM

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OIL JUMP 3 % >> $$$$$$$$$$$$$
« Reply #6 on: January 15, 2015, 11:03:22 PM »
:) :clap: :thumbsup: :handshake: :cash:

GONG XI FA CHAI :party: :dancing: :hi:

Brent USD50.34 +0.48    (+0.96%)
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WTI USD49.09 +0.61    (+1.26%)
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 :clap: :clap: :clap: :thumbsup: :cash: :cash:

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #7 on: January 16, 2015, 08:41:52 PM »

Brent USD 49.56 +1.29    (+2.67%)
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WTI  USD47.37 +1.12    (+2.42%)
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 :coffee: :coffee: :coffee: :coffee: :hi:

Online DR KIM

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Re: OIL STEAM AGAIN - ...KNM ? ICON ?....CALL WARRANT ?
« Reply #8 on: January 16, 2015, 08:47:22 PM »
Brent USD 49.56 +1.29    (+2.67%)
 12:40:13 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )


WTI  USD47.37 +1.12    (+2.42%)
 12:38:37 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )


 :coffee: :coffee: :coffee: :coffee: :hi:

BE  GREEEEEEEEEEEEEEEDY   :clap: :clap: :clap: :cash: :cash: :cash:

Offline Joe99

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Oil rallies as IEA cuts non-Opec forecast amid price war
« Reply #9 on: January 16, 2015, 08:49:34 PM »
The world's top energy watchdog has signalled a potential recovery in the price of crude as it anticipates a slowdown in oil production growth outside the Organisation of the Petroleum Exporting Countries (Opec) cartel.
The International Energy Agency (IEA), in its closely-watched monthly market report released Friday, scaled back its expectation for supply growth outside Opec by 350,000 barrels per day (bpd). It now expects non-Opec countries to produce 950,000 bpd this year, bringing total production excluding the cartel to 57.5m bpd in 2015.

http://www.telegraph.co.uk/finance/newsbysector/energy/11349923/Oil-rallies-as-IEA-cuts-non-Opec-forecast-amid-price-war.html

Hot hot hot from the press  :coffee: :coffee: :coffee: :coffee: :coffee: :coffee: :hi:

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up WTI rise by 5%
« Reply #10 on: January 17, 2015, 12:40:57 PM »
Brent Oil
USD 50.00 +1.73(+3.57%)
 16/01 - Closed (Disclaimer)


WTI Crude Oil
USD 48.49+2.24(+4.84%)
 16/01 - Closed (Disclaimer)

Offline Joe99

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Re: OIL RISE - rig count dropping drastically - latest January 17 2015 report
« Reply #11 on: January 17, 2015, 04:27:09 PM »
LONDON, Jan 17 — US drillers have taken a record number of oil rigs out of service in the past six weeks as Opec sustains its production, sending prices below US$50 (RM178) a barrel.

The oil rig count has fallen by 209 since Dec 5, the steepest six-week decline since Baker Hughes Inc began tracking the data in July 1987. The count was down 55 this week to 1,366. Horizontal rigs used in US shale formations that account for virtually all of the nation’s oil production growth fell by 48, the biggest single-week drop.

Analysts including HSBC Holdings Plc say the decline shows that the Organisation of Petroleum Exporting Countries is winning its fight for market share and slowing the growth that’s propelled US production to the highest in at least three decades. Opec’s decision not to curb its output amid increasing supplies from the US and other countries has driven global oil prices down 58 per cent since June.

“Opec’s strategy is working, and it will be obvious in US production by midyear when growth from shale plays will come to a halt,” James Williams, president of energy consulting company WTRG Economics in London, Arkansas, said by telephone yesterday. “You can imagine the impact on any industry from a 50 per cent impact on sales.”

http://www.themalaymailonline.com/money/article/us-oil-rig-slump-a-boost-to-opecs-fight-with-shale

Offline mrupai

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #12 on: January 17, 2015, 05:17:08 PM »
 :thumbsup:

The oil stocks call warrants with long expiry, and trading at small premium, looks attractive...




Online DR KIM

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #13 on: January 17, 2015, 05:21:24 PM »
 :clap: :clap: :clap: :thumbsup: :cash: :cash:

BE  GREEEEEEEEEEDY   !!

Offline jojo

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #14 on: January 17, 2015, 05:42:16 PM »
:thumbsup:

The oil stocks call warrants with long expiry, and trading at small premium, looks attractive...





Can suggest a few...?

Offline Joe99

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Re: OIL RISE - rebound by this summer
« Reply #15 on: January 17, 2015, 10:29:47 PM »
Currently, the world burns over 90 million barrels of crude daily. The price is down by $50 a barrel. If current prices hold (which they won’t) this would save the world’s oil consumers $4.5 billion per day, or $1.6 trillion per year. Big money. For the world to consume an extra 500,000 barrels per day, demand must only rise by 6/10 of one per cent.

While I’m not a classically trained or officially pedigreed practitioner of the “dismal science” of economics, I’m confident oil markets are sufficiently elastic that a 50 per cent reduction in price will lead to a 0.6 per cent increase in demand by mid-2015.

The two foregoing events will be measurable in about six months, or the summer of 2015. Barring a major geopolitical supply disruption, oil won’t increase to $100 anytime soon. But it will certainly rise much closer to the global replacement cost of about $80. Although this price isn’t high enough to resume all the massive spending on drilling and new oilsands plants we’ve enjoyed for years, it will stabilize house prices and job markets. Both are very positive developments.

http://calgaryherald.com/opinion/columnists/yager-oil-prices-will-rebound-by-this-summer

Offline Joe99

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Re: OIL RISE - rebound by this summer
« Reply #16 on: January 17, 2015, 10:33:20 PM »
Currently, the world burns over 90 million barrels of crude daily. The price is down by $50 a barrel. If current prices hold (which they won’t) this would save the world’s oil consumers $4.5 billion per day, or $1.6 trillion per year. Big money. For the world to consume an extra 500,000 barrels per day, demand must only rise by 6/10 of one per cent.

While I’m not a classically trained or officially pedigreed practitioner of the “dismal science” of economics, I’m confident oil markets are sufficiently elastic that a 50 per cent reduction in price will lead to a 0.6 per cent increase in demand by mid-2015.

The two foregoing events will be measurable in about six months, or the summer of 2015. Barring a major geopolitical supply disruption, oil won’t increase to $100 anytime soon. But it will certainly rise much closer to the global replacement cost of about $80. Although this price isn’t high enough to resume all the massive spending on drilling and new oilsands plants we’ve enjoyed for years, it will stabilize house prices and job markets. Both are very positive developments.

http://calgaryherald.com/opinion/columnists/yager-oil-prices-will-rebound-by-this-summer


I like the beginning of the article .... :thumbsup:

There are very few advantages to growing old. Except experience, only accumulated with practice and time. After writing about the ups and downs of the oilpatch for 35 years, two repeatable trends emerge. Following are the only common characteristics of numerous booms and busts, and what they mean for Albertans in 2015 and beyond.

First, there are very few accurate forecasters prognosticating about the future price of oil. Most are simply extrapolators. The default behaviour is to take whatever happened yesterday and extend it out forever. If prices are high, they’ll stay high. If they are low, they’ll never rise.

When somebody predicts an abnormal change in oil prices in either direction, they are generally ignored. The handful of really smart market analysts aren’t recognized as such until after the fact.

The only other consistent trend after studying this subject since 1979 is that the consensus view is invariably wrong. It never works out the way most believe it will or should. Direction doesn’t matter. After agonizing over forecasts and budgets for publicly traded oilfield service companies for 25 years, I finally realized the only sure thing is they were never right. The unknown was how much and which way. It’s a volatile business, Alberta’s oilpatch.

Commodity reports say world oil markets are oversupplied to the tune of two million barrels per day. All the alleged geopolitical subplots involving Iran, Russia, Saudi Arabia and the United States are interesting, but don’t mean much. The low-cost Middle East producers aren’t supporting the price at or near $100 because they are losing market share to new supplies from North America like oilsands and shale oil. They’ll never get it back if prices stay high, so they will remain abnormally low until global markets change.

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #17 on: January 18, 2015, 01:06:34 PM »
The domino  effect - which was anticipated - so naturally - the shift back to more demand for oil lah.. ;) :P

http://www.brecorder.com/top-stories/0/1143228/

Oil price slump puts at risk clean energy push: experts

January 18, 2015 RECORDER REPORT 0 Comments
Falling oil prices could have a negative impact on global efforts to develop renewable energy sources, experts warned Saturday at a conference in Abu Dhabi. Oil prices have fallen by almost 60 percent since June, crashing on worries over global oversupply and weak demand in a faltering world economy. Participants at the International Renewable Energy Agency (IRENA) conference that opened Saturday in the oil-rich United Arab Emirates (UAE) said the trend could spell doom for plans to shift to clean energy.

The fall in oil prices could be a "game changer", Italy's Deputy Minister for Economic Development Claudio Vincenti told the two-day meeting. Oil price rises in the past encouraged clean energy investments, said Vincenti, adding that a long-term fall in prices could shift the balance among various energy sources. He did not elaborate. Salem al-Hajraf, representing oil-rich Kuwait at the conference, agreed that falling oil prices posed a "major challenge" this year as was the case two decades ago.

"The fall of oil prices in the 80s was a main reason behind the collapse of many renewable energy projects," he told participants. Renewable energy, which relies on solar, wind and other sources, is essential for meeting global CO2 emission targets. Delegates from more than 150 countries attended the opening session of the IRENA conference, including Israel with has no diplomatic ties with the UAE. Representatives from more than 110 international organisations are also taking part in the meeting.

"The story of renewable is rapidly evolving and as the importance of renewable energy grows, so does the relevance of the agency's work," IRENA director general Adnan Amin told the conference. He said that total world investments in renewable energies had reached $264 billion in 2014, $50 billion more than the previous year. At the meeting, the Abu Dhabi Fund for Development, in partnership with IRENA, will announce a series of loans for five renewable energy projects in developing countries, organisers said.

Abu Dhabi-based IRENA, with 137 member states and the European Union, aims to promote the sustainable use of all forms of renewable energy. The conference coincides with a series of events organised under the banner of Abu Dhabi Sustainability Week, including Future Energy Summit and an International Water Summit, both on Monday.

Egyptian President Abdel Fattah al-Sisi is expected to attend Future Energy Summit while French Energy and Environment Minister Segolene Royal will take part in the water summit. Abu Dhabi is to display a solar-powered plane, Solar Impulse 2, that does not use any fuel and which will fly out from the Emirati capital in March on a five-month tour, according to energy company Masdar. In March last year, Abu Dhabi opened the world's largest operating plant of concentrated solar power, which has the capacity to provide electricity to 20,000 homes. The Gulf region is one of the world's richest areas in sunshine but lagging far behind several other countries in harnessing the AFP.

Copyright Agence France-Presse, 2015


   

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up - Sunday leisure reading
« Reply #18 on: January 18, 2015, 01:32:43 PM »
WHEN WILL THE OIL PRICE RISE AGAIN?
 By: Rutendo Nyamuda
Last Updated: 13 January 2015|12:03 GMT
Charles Whall, portfolio manager at Investec Asset Management, predicts that the oil price will rise substantially this year.


Whall predicts that the price of brent oil will rise between 70 to 75 dollars. PHOTO: gazettelive
He predicts that the price of Brent oil will rise between 70 to 75 dollars.

“We anticipate that by the end of February sufficient rig count will decline to stop the oil price falling. By the end of the second quarter, if the oil price hasn’t risen, we do expect OPEC to step in and stabilise the oil price,” he said.


How low can oil prices really go?
According to Tom Nelson and Charles Whall, portifolio managers at Investec Asset management, the oil price is unlikely to stay this low for an extended period of time.
Whall says that in his over 30 years in the oil market he has not seen such a wide dislocation between the perception and the reality of the markets.

“In reality we have an oversupply of around 1.5 at the moment. Remembering the oil fills decrease naturally 10 per cent per year. So it doesn’t take as much change in the capital spend to see a correction in the production.”

(READ MORE: Global oil price fall could hurt Ghana infrastructure plans -president)

Whall expects to see a correction to the balanced market.

“It doesn’t actually take a balanced market for the oil price to start moving. As soon as people see North American suppliers moderating, we expect the oil price to start to move forward.”

He disagrees with Goldman Sachs’ prediction of 40 dollars a barrel, not taking into account the impact of shale production.
;) :P

(READ MORE: Operations commence at Lagia oil field, says SacOil)

“You must remember with the unconventional production, with the shale production, it’s a cap intensive immediate production effect. These wells are drilled and bought on within one month and then we see production come on at 1,000 barrels a day per well, but it falls within the first six months to well below 500 barrels per day. So you have this rapid decline coming on.”

He adds that the reason why the oil service companies have been suffering for a while is because there is very little new production coming on this year.

http://www.cnbcafrica.com/news/resources/2015/01/13/oil-rise-whall/

Offline Joe99

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Prepare now, for oil prices will rise again.
14 JANUARY 2015
tags: Editors Picks, energy, john kennedy, oil, research and development
by Editor of the Fabius Maximus website
Summary: This is part 2, following yesterday’s post, What’s causing the crash in oil prices? Today we look to the future. Oil prices will rise again. Let’s not waste this opportunity to prepare.



.

Contents
The bottom line: oil prices will rise again.
When should we prepare for peak oil?
For More Information.
.

(5)  The bottom line: oil prices will rise again.
.
The cure for high prices is high prices, which leads to greater efficiency (reducing demand) and more supply. Similarly, the cure for low prices is low prices, as they reduce investment and hence future prices. Every day we drain each existing field a little more, bringing it closer to its peak oil — when even advanced tech cannot maintain production. Estimate vary, but the global production decline rate is roughly 6%. That’s the new production that must be created each year to replace the annual production decline from existing fields. In addition, demand increases over time since a growing world needs more oil.

Prices must be high enough to induce people to drill and create this new supply. Current prices have only a modest effect on the decision to open a new field. Lower costs to drill are offset by higher cost of capital and lower forecast prices. Eventually reduced capital expenditures (capex) — described in yesterday’s post — will force prices up. We don’t know the cost to produce the marginal barrel of oil from exploration and production (i.e., not development drilling); indeed it changes over time. Sources I rely upon put it at very roughly $80 today. That’s an all in cost: capital (up-front cost), operating, overhead (to run the company), and the minimum required profit (no charities drill for oil).

None of this tells us about the short-term path of oil prices, which depend on decisions by thousands of organizations about production and storage — and unknowable geopolitical and economic factors.

None of this affects the geological reality that we tap ever-lower quality fields. Today’s fracked horizontal wells are more expensive than the vertical wells of a previous generation. Alberta’s oil sands and Venezuela heavy oil are more expensive than oil from the once-great West Texas fields. Pumping from the Saudi desert costs less than in the arctic. Deep offshore wells cost more than in shallow water. We’re not running out of oil; it’s just getting more expensive.:think: :o :hi:

Our grandchildren will see these gyrations as blips on the steady upward march of oil prices (until the eventual development of new energy sources render oil obsolete). What we do now can prepare for that future. We need to prepare for oil price bubbles (e.g., $140 in 2008), minimizing the harm they do by reducing our dependence on oil and maintaining an adequate strategic reserve.


.

We need to exploit these oil price busts. First, we can cheaply fill the Strategic Oil Reserve from its current 696 million barrels to its maximum of 727 million — or even increase it. Second, low prices allow us to raise taxes on energy without economic penalty. Third, government action can minimize the boom-bust cycle of energy capex (which leads to more wild swings on the upside) by providing a stable flow of credit during busts.  The prescription of Walter Bagehot (1821-77) works for banks, and will work for the equally important energy industry:  provide “very large loans at very high rates” on good collateral.

Update: The Economist gives similar but broader recommendations in “Seize the Day“.



(6)  When should we prepare for peak oil?
.
It’s inevitable, although we lack the data to reliably forecast the date. President Kennedy told us when to start preparing in his speech at U California at Berkeley on 23 March 1962:

“Knowledge is the great sun of the firmament,” said Senator Daniel Webster. “Life and power are scattered with all its beams.”

In its light, we must think and act not only for the moment but for our time. I am reminded of the story of the great French Marshal Lyautey, who once asked his gardener to plant a tree. The gardener objected that the tree was slow-growing and would not reach maturity for a hundred years. The Marshal replied, “In that case, there is no time to lose, plant it this afternoon.”

Today a world of knowledge — a world of cooperation – a just and lasting peace — may be years away. But we have no time to lose. Let us plant our trees this afternoon.

Energy r&d should be increased massively. I do not see anything with larger potential payoffs, in both economic and environmental terms.

(7)  For More Information.
.

See the most recent EIA report on world oil production. It’s quite stable; no evidence that production caused prices to crash. Another important report is the World Bank’s January 2015 report “Understanding the Plunge in Oil Prices:Sources and Implications“.

All posts about oil:

Peak Oil and Energy – posts on the FM site – Articles discussing all these issues in detail.
Peak oil and energy – Studies and reports, with links to authoritative outside sources.
Myths about energy:

An urban legend to comfort America: our massive reserves of unconventional oil, 29 August 2008.
An urban legend to comfort America: crash programs will solve Peak Oil, 5 September 2008.
An urban legend to comfort America: demand for oil creates new supply, 8 September 2008.
An urban legend to comfort America: oil is oil, even if it is not oil, 10 September 2008.
An urban legend to comfort America: alternative energy will save us, 16 September 2008.
Could a new “Manhattan Project” produce radically new energy sources?, 29 June 2010.
Coal-to-liquids as a case study of how excessive optimism is our enemy, 14 February 2011.


http://fabiusmaximus.com/2015/01/14/future-of-oil-prices-prepare-for-peak-oil-76328/

Online DR KIM

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #20 on: January 18, 2015, 02:51:40 PM »
 :speechless: :speechless:

Online DR KIM

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #21 on: January 19, 2015, 09:15:24 AM »
:thumbsup:

The oil stocks call warrants with long expiry, and trading at small premium, looks attractive...






opportunity  now  -  so  cheap b4  it's  too late   :cash: :cash: :cash:

Online DR KIM

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Re: OIL RISE AGAIN - new topic to cheer you up - OIL CALL WARRANTSSS $
« Reply #22 on: January 19, 2015, 10:01:17 AM »
:thumbsup:

The oil stocks call warrants with long expiry, and trading at small premium, looks attractive...





at  the  current  price , so cheap  - less risky but  with  CNY  jackpot potential  even 500 %

 :clap: :clap: :clap: :cash: :cash:

Online DR KIM

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #23 on: January 19, 2015, 11:22:05 PM »
:thumbsup:

The oil stocks call warrants with long expiry, and trading at small premium, looks attractive...





FOCUS  ON  cheap  oil stock call warrant  for  CNY  JACKPOT  :clap: :clap: :handshake: :cash:

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #24 on: January 22, 2015, 08:17:07 PM »
Brent USD 50.25 +1.22    (+2.49%)
 12:13:05 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )


 :clap: :thumbsup: :handshake: :cash: :party: :dancing: :hi: :hi: :hi:

Offline jojo

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #25 on: January 22, 2015, 09:12:03 PM »
Brent USD 50.25 +1.22    (+2.49%)
 12:13:05 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )


 :clap: :thumbsup: :handshake: :cash: :party: :dancing: :hi: :hi: :hi:

yipppieeee.....go coastal and muhibah..................... :clap: :clap:

Offline Cockeral

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #26 on: January 22, 2015, 09:50:22 PM »
COASTAL  :cash: :cash: :cash:

Offline Divine

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #27 on: January 22, 2015, 10:23:24 PM »
a friend said punter were collecting skpetro and barakah since last week for antcipated boom in March.

I wonder if iris will also benefit
There comes a time when you just have to stop worrying about what other people think, and focus upon your own life.:)

Offline Joe99

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Re: OIL RISE again - now the real story coming out - nobody finding new oil
« Reply #28 on: February 10, 2015, 12:05:34 AM »
Aiyoyooooyooo  :'( :sweat: :sweat:

Very soon oil price going to kaboooooooooom!!!! :'(. Usd 200 how ??? Amma Appa ??? ;) :P

http://www.reuters.com/article/2015/02/05/oil-majors-output-idUSL6N0VE2YM20150205

Oil majors fail to find reserves to counter falling output

Four of the world's six biggest oil firms by market value - Royal Dutch Shell, Chevron, BP and ConocoPhillips - released provisional figures showing together they replaced only two-thirds of the hydrocarbons they extracted in 2014 with new reserves. :'( :S :sweat:


Combined, those four and industry leader Exxon Mobil posted an average drop in oil and gas production of 3.25 percent last year.

Production from oil fields falls over time, because reservoir pressure drops as oil is extracted. Fields on average experience natural depletion rates of around 15 percent per year, industry executives say, but companies generally reduce this to 3-5 percent by sinking additional wells, injecting gas or by using other capital-intensive techniques.

Cutting capex will increase depletion rates, if past experience is an indicator.

"That is a growing risk for the industry. If you go back to the 2008 and 2009 period ... we saw an increase worldwide in decline rates for all companies, basically for the entire industry, increase by a percent or two. And that's very significant," Chevron CEO John Watson told investors last week.


Gua Sudah ciakap - oil is a depleting resource - it getting more difficult to find and more expensive to bring to surface... Shale is just a blip in which spikes and production quickly depletes. It is highly capital extensive - now susah lor to go for shale.

Conventional oil oso susah mau cari - Aiyah manyak susah ini minyak - kepala Sudah pusing- mana itu minyak cap kapak :speechless:



Offline eye-hub

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #29 on: February 10, 2015, 04:55:07 AM »
Forget rally, oil heading lower: Analyst

Oil prices have rebounded recently, but analyst Michael Cohen doesn't think the rally will last. He's predicting prices will likely head back down.

"The market has been very focused on the rig count," the head of energy research commodities for Barclays said in an interview with " Squawk on the Street ."

"What we saw in the last couple weeks is rig count falling pretty precipitously by about 80 or 90 rigs per week, but we think there are more important things to be focused on and that rig count doesn't tell the whole story."

He expects to see some weakness going into the shoulder season for demand. In addition, there is an excess supply of about a million barrels of oil a day, he said.

"We have to incentivize further storage through the course of this first half of the year. In order to do that, we expect that the front-month contracts are likely to weaken."

Oil rose for a third straight session on Monday after OPEC projected less supply from countries outside the organization and forecast greater demand for crude this year. U.S. crude futures (New York Mercantile Exchange: @CL.1) were up $1.53, almost 3 percent, at $53.22 per barrel late in the morning. Benchmark Brent futures (Intercontinental Exchange Europe: @LCO.1) rose 67 cents, or 1 percent, to $58.47, after revisiting Friday's one-week peak of $59.06.

Read More OPEC: 'Overflowing' supply weighing on oil prices

Last week, the market rallied on news that the U.S. oil rig count was at a three-year low. The count was down 87 rigs from the week prior, and down 315 from last year, according to the oil services Baker Hughes.

However, Cohen noted that just because the rig count is down doesn't necessarily mean that production is cut.

In fact, drilling productivity is expected to increase over the course of this year, he said. In addition, there is a lag between the time that you drill a well and the time that you connect it.

For example, rig counts dropped by over 600 in Texas in 2008-2009, but production only fell 50,000 barrels per day in the Lone Star State during that period.

"There's a wave of production growth that we still see producers enjoying from the time when prices were $100 a barrel."
"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline Joe99

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http://rt.com/op-edge/230911-oil-prices-should-rise/

Mamdouh Salameh: That was inevitable that the price would rise. First there was the strike by the workers in nine refineries in the US. Then there were indications that the number of rigs that is being used to produce US shale oil has been reduced significantly. And third, the investment and expenditure by the major oil companies around the world has declined. All these combined are giving signals to the global oil market that production is going to fall and that will put a huge floor under the oil price and start pushing it up.

RT: The number of oil rigs operating in the US fell last week to a 3-year low. Some say this contributed to the price recovery. But if the price continues to rise, will this trend be reversed?

MS: It will, and I have said in many other interviews that I project that by the second half of this year the oil price will recoup some major losses it made so far and it will go above $60, possibly $70-75 a barrel.

RT: OPEC has consistently refused to cut production, to stabilize prices. Why would it be in the interests of these countries to keep prices low?

MS: US oil shale production is a fact of life and we have to deal with it as a fact of life. Contrary to what OPEC claimed. When the price goes up production of US shale oil will go up as well because they are price sensitive. Consequently, we deal with shale oil production as a fact. But there are other indications as well. OPEC now believes that the global demand for oil will grow faster than has been projected. All the signals indicate that the price will go up further. I also believe that the global economy cannot live at peace with very low oil prices because that will affect the international investment as a whole; it will affect the global oil industry as a whole; and it will affect the economies of the oil producing countries which are a big chunk of the GDP of the world.

RT: What is the likelihood of the oil price returning to over a hundred dollars as it was a year ago?

MS: I expect it to do that but not during 2015. I expect by the second half of this year that prices could touch $70-75. But by next year I hope prices will be approaching their previous level of $100. Remember that the major producers in the Arabian Gulf need an oil price of $100 to balance their economies. They cannot continue to spend their financial reserves waiting for the price to go up. They need a price like that. And I wouldn’t be surprised even if OPEC decides to reverse its wrong decision and cut production for a while to bolster the oil price.

Offline Eric yk

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #31 on: February 10, 2015, 11:27:42 PM »
Now the oil price is dropping.... tomorrow oil counter sure all drop shiok!!  :thumbsup: :thumbsup: :thumbsup:

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #32 on: February 10, 2015, 11:30:26 PM »
Now the oil price is dropping.... tomorrow oil counter sure all drop shiok!!  :thumbsup: :thumbsup: :thumbsup:

See these is where you guys all talk only ;) :P

Anybody bought these shares when oil was USD40? When Sapura was 2.12, when perisai was 41 cents, when Barakah was 78 cents when etc etc etc  :speechless: :speechless: :speechless:

Talking about shiok - what do you really know what shiok is?  :D :D

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #33 on: February 10, 2015, 11:35:16 PM »
Learn how to ride the wave - tomorrow is another round of USA inventory data due followed by Friday EIA Crude data - rig count will be next, crude trade expiry for future contracts of March is Feb 19 or thereabouts - lots are taking place - need to digest and time it right.

Not just cut and past and hope and wish - got to do some homework lah and learn the patterns - now oil is in play -  :) :thumbsup: :handshake: :cash:

So where is the excitement - oily counter lah  :)

Those who know wins  ;) :P

Offline Eric yk

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #34 on: February 11, 2015, 12:39:43 AM »
Learn how to ride the wave - tomorrow is another round of USA inventory data due followed by Friday EIA Crude data - rig count will be next, crude trade expiry for future contracts of March is Feb 19 or thereabouts - lots are taking place - need to digest and time it right.

Not just cut and past and hope and wish - got to do some homework lah and learn the patterns - now oil is in play -  :) :thumbsup: :handshake: :cash:

So where is the excitement - oily counter lah  :)

Those who know wins  ;) :P
tomorrow oil counter sure drops!! today buy one all #### hard alrd!!

Offline Eric yk

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #35 on: February 11, 2015, 12:41:17 AM »
Learn how to ride the wave - tomorrow is another round of USA inventory data due followed by Friday EIA Crude data - rig count will be next, crude trade expiry for future contracts of March is Feb 19 or thereabouts - lots are taking place - need to digest and time it right.

Not just cut and past and hope and wish - got to do some homework lah and learn the patterns - now oil is in play -  :) :thumbsup: :handshake: :cash:

So where is the excitement - oily counter lah  :)

Those who know wins  ;) :P
If u got buy u also will be the one to cry!!  :thumbsup: :thumbsup: :thumbsup:

Offline Eric yk

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #36 on: February 18, 2015, 12:07:56 PM »
Last day to buy buy oil counter sure up ah!!!! All moving now buy buy buy!!!  :thumbsup: :thumbsup: :thumbsup:

Offline Eric yk

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #37 on: February 26, 2015, 06:43:39 AM »
Oil price rebound to $61.63 per barrel, today oil counter must up!!!!  :thumbsup: :thumbsup:

Offline Joe99

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Good to sleep now :hi: :hi: :hi: :sleep: :sleep: :sleep: :sleep: :sleep: :sleep: :sleep:

Tomorrow another day - you will see the last 2 hours trading today the fun in Brent   :) :nod:

Sweet dreams  :sleep: :yawn: :sleep:

Offline Eric yk

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Good to sleep now :hi: :hi: :hi: :sleep: :sleep: :sleep: :sleep: :sleep: :sleep: :sleep:

Tomorrow another day - you will see the last 2 hours trading today the fun in Brent   :) :nod:

Sweet dreams  :sleep: :yawn: :sleep:
how u know one? now really RM64 per barrel le!!!!

Offline Joe99

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PANAS! PANAS! Hot from the press!!   :o :o :o :o :hi:

http://www.ft.com/intl/fastft/285962/post-285962

MARKETSSaudia Arabia lifts Asia's fuel tab
21 hours ago
URL Twitter
Saudi Arabia, the world's largest crude exporter, has raised prices for April oil sales to Asia, in a sign perhaps that demand from the region is growing once again.

Saudi Aramco, the state-owned oil company, said in a statement on Tuesday that it would raise its official selling price for Arab Light crude by $1.40 to its customers in Asia. The region is its largest market, receiving more than half of its crude exports.

The price increase should be seen as welcome news to the oil market.

Oil prices plunged more than 50 per cent last year, as a surge in US production coincided with a slowdown in demand from China to create a supply overhang that is expected to reach 1-2m barrels a day in the first half of this year.

In response, Aramco has been cutting prices for its cargoes to Asia as it looks to defend its market share against rising competition from Colombia and Nigeria.

Aramco also raised prices for other oil grades for Asia as well as to the US.

Brent crude, the international benchmark, is up 2.8 per cent at $61.23 a barrel. Its US counterpart, the West Texas Intermediate, is up 1.2 per cent at $50.18 a barrel.

Offline eye-hub

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #41 on: March 07, 2015, 09:14:35 AM »
Just my stupid 2cents....


I maybe stupid but I play safe....



I never let my hard earn money burn....



I kept in FD, only buy cheap if it crash....



Don't worry abt me earning 4.2% annually, I got other plan and investment....


Worry about yourself and your money....


Nothing can stop the market from heading south...


Look at U.S. jobless data....(which is after many times alter, stil show weakness)..


The clever one should go find out what is include in the jobless data, what is left out....


Same as klci, 1800? Look more like 900 to me in the 19xx....


China pulling the market losing steam is a fact....


Btw can anyone take over to pull the world?


EU QE?  If it work for japan then it will work for EU....


If the supply never reduce and demand drop, will oil go high?


The clever should start thinking....
"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #42 on: March 07, 2015, 10:09:20 AM »
The clever play the game  - you keep your money in the safe ok - good for you old chap :D

8 months people keep talking about crash and still dreaming  :rofl: :rofl: :rofl: :rofl: :rofl:

The weak follow - the cleave lead - so you please keep you money on FD and continue to write here hoping and hoping for whatever.

Market swing either way - you make money of you know how. Now I give you 2 education.

1. Don't fall in love with stocks - ride the wave - it's all about timing.
2. Oil is in play and get into the oily business

Now go and do some homework and study where the oil stocks were in December and where they are now.

Enjoy your weekend and don't let your week and years past wastefully - get educated and be ahead of the game!



Offline Joe99

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Re: OIL RISE again - ha! Ha! Ha! WHO STARTED THE SLIDE AND IS CHANGING IT
« Reply #43 on: March 07, 2015, 01:45:02 PM »
Still have no idea how to digest what really transpires and plan for it? No wonder so many headless chickens running around clueless..

Why all posting lopsided? Don't know how to decipher the good bad and ugly? Don't know where the big ticket item lies :think: :think: ::)

Having cheap thrills cutting and pasting without and meaningful interpretation  :speechless:

Now read the below article to fully understand who controls oil and the heart of world economy - and where it is heading in the near future...I have said so many times don't looks at the days LOOK AT THE MONTHS AND YEAR.

And also read this - USA SHALE is going to be dead soon - that is WHY you have so many jobless in the market - and you going to see this for another month or so the most- more oiler job cuts - all this is short term pain for long term gain - to OIL.

"Friday’s rig data comes on the heels of the February jobs report, which showed that nonfarm payrolls grew by 295,000 in February as the unemployment rate fell to 5.5%. Jobs in the mining sector, however, which include oil and energy related jobs, fell by 9,000 in February.

And data from staffing firm Challenger, Gray & Christmas released on Thursday showed that in February 16,333 jobs were cut in the energy sector.  "



So - laugh now and CRY LATER  :P ;)

See where we are in June and December ok  :D :

See who has the final laugh  :rofl: :rofl: :rofl: :rofl: :rofl: :hi:

And a word of advise - want it be rich - work for it - economy good or bad either way you can make it IF you know how - NOT Just wishing for doomsday to happen ;) :P

Example - when you have paid QUALITY shares if market is going to be weak Monday - sell first and buy back later - this is legal shorting - KNOW THE GAME. Either way you make money!


Saudis Boost Oil Pricing to Asia Most in Three Years

(Bloomberg) -- Saudi Arabia, the world’s largest crude exporter, increased the pricing terms for Arab Light sold to Asia by the most in three years as demand improved. Abu Dhabi raised its export prices for the first time since June.

http://www.bloomberg.com/news/articles/2015-03-03/saudis-increase-oil-price-to-asia-most-in-3-years-on-demand


Last week, the number of oil rigs in use in the US fell by 33 to 986, the lowest total since June 2011.

Then number of oil and gas rigs in use combined fell by 43 to 1,267, the lowest since January 2010.


Read more at http://www.businessinsider.my/baker-hughes-rig-count-march-6-2015-3/#U4MlWjIBESeHdkE2.99

Offline eye-hub

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #44 on: March 11, 2015, 07:56:48 AM »
美股盤後-道瓊大跌332點收17662點 美元指數屢創新高引發賣壓
2015/03/11 05:10 鉅亨網 編譯何昆霖 綜合外電

鉅亨網編譯何昆霖 綜合外電

《CNBC》報導,美國股市全面大跌作收,美元指數創12年以來新高引發大盤賣壓。

美股三大指數今日在國際原油價格下跌、美元指數大漲影響下,全面下跌,道瓊工業指數收跌超過 300 點,跌破 50 日均線。今年以來道瓊與標普 500 指數的漲幅已經全數回吐,只剩納斯達克指數尚維持 2.61%的投資報酬率。

分析師表示,投資人預期聯準會今年升息,推升美元指數至 12 年以來最高水準。美元上漲的速度一度成為帶動市場上漲的主要動力,然而隨著歐洲央行 ECB 實施量化寬鬆,美元指數可能已經來到「相當危險」的水準,市場短期之內可能見到一個高點。從技術分析面來看,今日標普 500 指數跌破 2050 點,顯示市場短期之內可能面臨一波技術性修正。

本週投資人關注焦點將放在週四零售數據與企業庫存量、週五消費者信心指數上,看看是否有任何跡象顯示強勢美元造成經濟成長放緩。

道瓊工業指數下跌 332.78 點,或 –1.85%,收在 17662.94 點。

標普 500 指數下跌 35.27 點,或 –1.70%,收在 2044.16 點。

那斯達克指數下跌 82.64 點,或 –1.67%,收在 4859.79 點。
"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline eye-hub

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #45 on: March 11, 2015, 08:01:09 AM »
要穩定,不要亂 :handshake:
"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #46 on: April 14, 2015, 11:17:44 PM »
Brent USD 49.56 +1.29    (+2.67%)
 12:40:13 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )


WTI  USD47.37 +1.12    (+2.42%)
 12:38:37 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )


 :coffee: :coffee: :coffee: :coffee: :hi:



Now April - oil steady and heading north of USD60 :coffee: :coffee: :coffee: :coffee:

Keep calm and stay calm ;)

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #47 on: April 14, 2015, 11:19:38 PM »
Wait another month or 2 the most - the fun is just beginning  :hi: :hi: :hi: :kiss:

Offline Eric yk

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #48 on: April 14, 2015, 11:20:50 PM »
Wait another month or 2 the most - the fun is just beginning  :hi: :hi: :hi: :kiss:
now is it the right time to enter oil counter??

Offline Joe99

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Re: OIL RISE AGAIN - new topic to cheer you up
« Reply #49 on: April 14, 2015, 11:30:17 PM »
now is it the right time to enter oil counter??

Eric watch carefully this week rig count and IEA and Inventory report / data -  :)

The right time was December but any swing in solid oil counters is an opportunity