Harbour Energy Share Discussion Threads

[chutes01] 26/11/2016 16:08

shorters beware next week

[puzzler2] 26/11/2016 16:02

The Saudis have proved that they are not very bright when it comes to economics and the art of compromise in business dealings, and are sufficiently arrogant to believe that they can still control the world oil market. They need to realise that they caused this problem and have an obligation to solve it. Rational people would expect an agreement next week, however.....

[joelebeau] 26/11/2016 15:54

Marvin, I wasn't aware I was in an argument.

[marvin9] 26/11/2016 15:09

Opec has asked non-Opec countries to curb output by 500,000 barrels a day, Russian Energy Minister Alexander Novak told reporters in Moscow on Thursday. Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared with next year’s plans.

Ministers from Saudi Arabia and Iran won’t arrive in Vienna until November 29, said Opec delegates, leaving little time for them to hold negotiations before the big meeting.

“If they don’t come up with an agreement Wednesday we will soon be testing $40 again,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “We’re seeing some brinkmanship by the Saudis. The Saudis are the most important producer but the Russians are a close second, especially with their recent output increases.”

Algerian Energy Minister Boutarfa will also meet his Iraqi counterpart in Vienna on Monday, state-run Algerian Press Service reported. Opec’s ninth-largest producer played a central role in September to clinch the preliminary agreement to cut output to 32.5 million to 33 million barrels a day, compared with the group’s estimated October output of 33.6 million.

[marvin9] 26/11/2016 15:06

In the week ended November 23, the number of rigs drilling for oil in the United States totaled 474, up by 3 compared with the prior week and a total of 555 a year ago. Including 118 other rigs drilling for natural gas and 1 rig listed as “miscellaneous,” there are a total of 593 working rigs in the country, up by 5 week over week and down 151 year over year. The data come from the latest Baker Hughes Inc. (NYSE: BHI) North American Rotary Rig Count released on Friday.

West Texas Intermediate (WTI) crude oil for January delivery traded up about 4.7% in Friday’s holiday-shortened session to settle at $45.96. Crude rose by just 0.5% for the week. The U.S. Energy Information Administration (EIA) reported last Wednesday that crude supplies had decreased by 1.3 million barrels in the week ended November 18, and that gasoline supplies had risen by 2.3 million barrels.

[tur43] 26/11/2016 10:24

Here's an interesting interview about what's next for the oil price - this analyst is basically predicting a $40 to $50 price for the foreseeable future

[deanroberthunt] 26/11/2016 07:57

Told ya, goat shaggers strike again......Oil could be under $40 monday

[anony mous] 26/11/2016 07:20

Na na na naa na !Lol!

[marvin9] 25/11/2016 20:47

I'm making money your not ;)

[mreasygoing] 25/11/2016 20:22

Arrogant, primeval people. I guess it takes one to know one.

[fireplace22] 25/11/2016 19:14

Evidently Saudi want an agreement within OPEC before they talk to other producers (Russia). Pressure on Iran and Iraq hopefully to stop messing.

[adh0] 25/11/2016 18:51

Mondays meeting has been cancelled. Saudis had said it would be "pointless". Ooops.

[manics] 25/11/2016 17:03

I am long PMO. I think OPEC are going to pull a blockbuster. I think the lenders are (to a degree) waiting on this meeting in the hope of clarity toward oil prices over the next 2-3 years. I think OPEC will deliver, then, a few weeks later, Tony.

Shorting now though, for me, is comparable to longing a stock that's on the way 'todamoon', with a BB full of rocket launch gifs. If NY Boy is right, and sentiment's already in the toilet, and there's no fight from the bulls, given the falls already from 80p, he should be (considering) going long on that view.

All imo.

[ny_boy] 25/11/2016 17:02

you're wrong Starvin Marvin, it will rocket next week on OPEC deal, so get in quick.

[leoneobull] 25/11/2016 17:01

Apparently fro every day the bankers delay we save 190000 us in interest. Not sure who did the maths but we are certainly saving 1.5% which with another major project coming on-stream is quite significant. I hope that pmo sorts out p2 then blasts the shorters into oblivion

[marvin9] 25/11/2016 16:57

BLACK FRIDAY DOWN 1.8% but wait... further discounts Monday ;)

[ny_boy] 25/11/2016 16:48

Only one way for this share to go from here - UP UP UP

[mreasygoing] 25/11/2016 16:42

Their or there. Lol

[mreasygoing] 25/11/2016 16:41

Their foreign currency reserves are dwindling. They'll run out of reserves in the next 7 years at current oil prices.