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[valentine] 30/11/2016 18:49

BBC somewhat enthusiastic about poo.

[toptrump1] 30/11/2016 17:53

32p tomorrow?

[oilandgas1] 30/11/2016 17:26

With the OPEC ( and non OPEC deal to come), we just need Amer to announce OBA throughout has increased to 4.5kbopd and fix the RODA issue.

Risks post OPEC Deal
Risk: compliance: quotas not stuck to for 6 mths and could be hard to track and manage - transparency.
Risk: shale ramps too quick for market, how soon? How much?
Risk: what Trump does in oil industry, in particular with Canadian imports.
Risk: demand increases need to continue

Actual proposed deal: 1.2m to 32.5 01jan17
KSA 486kbopd cut to 10.06mobpd
Iran capped at 3.797mbopd
Iraq cuts by 200kbopd
( non-OPEC and Russia to possibly cut too.. about 600kbopd on 09Dec16)

OPEC and Non OPEC (TBC on 9dec) = 1.2 + 0.6 = 1.8mbopd

[bigwavedave] 30/11/2016 17:18

OPEC wants to cut to stabilise price. Cut too much and it will encourage more US crude back onto the market which they don't want. $50 should be about right.

[lucyp00p] 30/11/2016 17:12

Amet roller coaster?

[westmoreland lad] 30/11/2016 17:12

Far too much mn..

Well done Trotts ! another winner.

[meneither2] 30/11/2016 17:06

Also I'm presuming it's asking way too much to expect amer to coincide a positive rns with a bullish poo scenario.....

[meneither2] 30/11/2016 17:03

I guess lucy because individually they want to ramp up production whilst others cut and push the price up, trouble is they all do it!

[francis55] 30/11/2016 16:44

Apologies- Update....

[francis55] 30/11/2016 16:42

Lucy apologies for the spelling.

[francis55] 30/11/2016 16:40

Amer roller coaster strikes again so do yourself a favour and sell first thing. Next run 16th Dec on interims. Who's on the 24p- 32p Amet roller coaster?

[valentine] 30/11/2016 16:38

Yea Dave. It was brown trousers last week. Someone just picked up 399177@29p. Theyll be there no doubt. All fur coat and no knickers style.

[lucyp00p] 30/11/2016 16:35

I have posted examples of my stupidity and ignorance on this bb many times, and do so again now. If a 1% production cut yields a 10% price increase, which rag- head is sitting round the OPEC table thinking that breaking the agreement is a good idea? Also, why stop at 1%?

[bigwavedave] 30/11/2016 16:34

Red trousers?

[valentine] 30/11/2016 16:15

Just had email from the capital club that dress codes applies. No raff nor riff for that matter will be allowed in. Business casual. Do they read the BB? Drat can I make Moss bros before closing to give the illusion of former wealth.

[westmoreland lad] 30/11/2016 15:47

Yep you did -------

Crude futures surged Wednesday after OPEC agreed to reduce its output by more than 1 million barrels a day, a cut that many market participants say could be significant enough to push oil supplies below demand levels sooner than expected.

Delegates from members of the Organization of the Petroleum Exporting Countries have reached a deal in Vienna that would cut production to 32.5 million barrels a day, according to people familiar with the matter.

That would represent a reduction of about 1% of global output.

[ladeside] 30/11/2016 15:46

Yes, I'm sure the charade will play out pretty much as it usually does.

There will be positive headlines of proposed cuts and a couple of days of rises and then we'll get stories about "doubts over OPEC cuts", "Iran may renege on Oil deal", "Russia could throw spanner in works", not forgetting, "Fears over US shale increase".

Seen it all before and could write the script, oh look, I just did............

[toptrump1] 30/11/2016 15:23

Amer might hit 33

[toptrump1] 30/11/2016 15:23

Oil is gonna be a short squeeze for days, most traders got it wrong. It's the way opec works the mkt or maybe it's their incompetence that causes such swings. 55, maybe 60 by Nxt wk if deal is good

[valentine] 30/11/2016 15:07

Someone must have had a quiet word with high hole last night. No problems with the indigenous population after the Apaches did a few whooping swoops then...or were they blackhawks? A mere bagatelle in the scheme of things.

[fsawatcher] 30/11/2016 14:32

ha ha ha

told ya alls

30p tomorrow

gilesy boyo

unleash the news now matey

[lucyp00p] 30/11/2016 14:28

Nobody posting about crooked BoD, collapsing share price or dodgy mm's today then. Wonder why

[westmoreland lad] 30/11/2016 14:27

lol Martin, he de man !

29p just paid. Looks like MMs short of stock. Expect games.

[marnewton] 30/11/2016 14:22

New technical indicator: The Toon;¬)

M