Soco Share Discussion Threads

[invisage] 29/9/2016 08:43

Solid update from RPC today results expected to be well ahead of market expectations.

[nigelpm] 29/9/2016 08:16

Disagree Peter. But end result will be the same for OPEC - so perhaps lost the battle but won the war is a more reasonable statement.

[greyingsurfer] 29/9/2016 08:13

Guess you might also say that US Shale has won the war - forcing OPEC's hand.

Not sure that's entirely true, Nigel. I'd say the limitations on US shale production have been exposed too. OPEC has had to accept it doesn't have the degree of monopoly it once had, but some of the wilder notions about shale production have been knocked on the head too, I'd say.

Peter

[buywell3] 29/9/2016 00:58

The USA will now ramp up shale production

Talk is just that ................ words

Actions speak louder ... interesting to see this one play out ... which timing wise is no coincidence

''Congress rejects Obama veto of 9/11 bill; first override of his presidency''

[0rient] 28/9/2016 23:27

Totally agree with you nigel..very strong statement. Lets hope they follow it through!

I've been sat mostly in cash last few weeks(90%)..will be deploying most of it tomorrow morning across various oilers. If OPEC remain true to their pledge i can see plenty of upside to come :-)

[nigelpm] 28/9/2016 22:48

hxxp://www.opec.org/opec_web/en/press_room/3706.htm

About as strong as it gets from OPEC.

The Conference, following the overall assessment of the global oil demand and supply balance presented by the OPEC Secretariat, noted that world oil demand remains robust, while the prospects of future supplies are being negatively impacted by deep cuts in investments and massive layoffs. The Conference, in particular, addressed the challenge of drawing down the excess stock levels in the coming quarters, and noted the drop in United States oil inventories seen in recent weeks.

The Conference opted for an OPEC-14 production target ranging between 32.5 and 33.0 mb/d, in order to accelerate the ongoing drawdown of the stock overhang and bring the rebalancing forward.

[nigelpm] 28/9/2016 20:09

Guess you might also say that US Shale has won the war - forcing OPEC's hand.

[invisage] 28/9/2016 19:34

FTSE Futures up 55 points post close.I've been buying stocks aggressively in recent weeks.Hopefully it will continue and thus help my portfolio make ATH.

[nigelpm] 28/9/2016 19:28

There's a move :

AFTER REACHING TARGET, OPEC WILL GO TO NON-OPEC FOR OUTPUT SUPPORT - ONE OPEC SOURCE

Remember current oversupply is probably around 1m. If they target 2m fun and games.

Oil up $3 so far on UK close so should be a good day in E&P land tomorrow.

BTW Invisage - in case you hadn't worked it out you're filtered so little point in trying to respond to me ;-)

[invisage] 28/9/2016 19:25

That's about 1% of daily oil demand. It won't make a difference as OPEC members will cheat imo.

[nigelpm] 28/9/2016 19:23

Was producing 33.69m BPD at end-Aug - so that's 1.2m Reduction - certainly enough to reduce the stockpiles and perhaps more importantly send a message.

[nigelpm] 28/9/2016 19:22

OPEC AGREES TO LIMIT OIL PRODUCTION TO 32.5 MLN BPD - TWO OPEC SOURCES

[invisage] 28/9/2016 19:17

Sell the oil rally imoOPEC members will cheat. They always have done

[nigelpm] 28/9/2016 19:10

Rtrs sources: Opec reaches deal to cap production, execution will be in November --Rtrs #OOTT

[nigelpm] 28/9/2016 18:45

Ha and if you think ze Germans will give a flying Bratwurst about those you are seriously naive.

[happy_plums] 28/9/2016 18:00

I read somewhere that using the sames rules that were applied to Greece and Italy, the German state cannot bail out Deutsche Bank.

Those were the rules so enthusiastically supported by Merkel.

[emptyend] 28/9/2016 11:40

If Merkel needs to bail out Deutsche before the spring elections, she and her party will be toast!

[nigelpm] 28/9/2016 09:57

That's my feeling as well ee - There'll be much more counterparty risk with Deutsche - a couple of mates in the city at major investment bank have been tasked with doing a large exercise on DB counterparty exposure.

Total assets - €1.63tn - Equity €62bn - any sort of mark to market downside and "Frankfurt - there's a major problem".

No doubt Germany will bail out if required - question is how and when.

[pembury] 28/9/2016 09:43

see where oil goes in the nr term as looking to go lower

[emptyend] 28/9/2016 09:32

Nigel,I'm out of touch now with relative sizes, but I suspect that it is still the case that Deutsche is more systemically-important than RBS was. Certainly their derivatives presence was much bigger, though that might have run off a bit as their problems have mounted.......?

[invisage] 28/9/2016 09:18

Everything up but Soco down....so much for the price being driven by market sentiment as per our resident expert.Does he have any credibility whatsoever ?

[nigelpm] 28/9/2016 09:10

The EU banking system is a fascinating one. Not been given much coverage by the UK Press but potentially huge. Deutsche needing to be bailed out will have all sorts of implications - thinking back to RBS - it's probably a similar scale albeit with a smaller asset base but spread more widely. Can't see it ending well that's for sure.

[emptyend] 28/9/2016 08:08

There are two big macro issues at present:1. OPEC2. EU banking systemIn the absence of any material company-specific news (which has been the case for a while really) the shares will just move around with general sentiment.It seems - from the frequency of filtered posts - that some still pretend otherwise. Hey ho....

[nigelpm] 27/9/2016 22:51

Remember, 'A fool and his money are soon parted'.
I have no intention of adding.

Don't post then. You are adding absolutely no value to anyone.