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makdatok Supreme	15-Feb-2016 13:08        makdatok About Contact  Quote this Post!
x 0   x 0  Alert Admin	Im mildly bullish on oil...but in 2weeks theres no followup on reduction,then bearish will follow..currently can see it crawling towards 35..
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Lucky03 Elite	15-Feb-2016 12:58        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oil inches down, weak China trade data drags Reuters 4 mins ago By Osamu Tsukimori TOKYO (Reuters) - Brent and U.S. crude futures edged lower on Monday as the dollar regained ground and as weak Chinese trade data stoked concerns about demand in the world's biggest energy consumer. But the market held most of its gains of more than 10 percent from Friday that came amid renewed talk that the Organization of the Petroleum Exporting Countries (OPEC) might finally agree to cut output to reduce a world glut. The mood inside OPEC is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister said, adding he will have talks with his Saudi and Qatari counterparts. "We continue to believe that if prices were to be artificially supported with production cuts it would only give more expensive forms of production more room to breathe and would only solve the problem in the short term," Daniel Ang at Phillip Futures said in a note. China's exports fell 11.2 percent in January from a year earlier and imports tumbled 18.8 percent, both far worse than expected. China's crude imports dropped 20 percent from record high volumes the previous month. London Brent crude for April delivery was down 17 cents at $33.19 a barrel by 0427 GMT, hurt by a strong dollar helped by a bounce in U.S. consumer spending. The oil contract jumped $3.30 on Friday after the United Arab Emirates' energy minister was quoted as saying that OPEC members are ready to cooperate on an output cut. NYMEX crude for March delivery was down 18 cents at $29.26 a barrel, after rebounding more than $3 in the previous session from Thursday's 12-year low. There will be no settlement on Monday for U.S. crude due to the Presidents Day holiday, and trading may be thinner than usual. Iran is exporting 1.3 million barrels per day (bpd) of crude oil, and will be pumping 1.5 million bpd by the start of the next Iranian year on March 20, a vice-president was quoted as saying on Saturday. Iran will load 4 million barrels of crude oil on tankers destined for Europe in the coming 24 hours, a senior official was quoted as saying on Saturday. Japan's economy contracted an annualised 1.4 percent in the final quarter of last year, data showed on Monday.
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Lucky03 Elite	15-Feb-2016 11:29        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oil Speculators Shrug Bet on Price Climb Despite Huge Stockpiles By Mark Shenk - 15 Feb 2016, 8:01:00 AM Oil stockpiles at an 86-year high and warnings of a persistent glut weren?t enough to keep money managers from betting that prices are ready for a rebound. Speculators? long positions in West Texas Intermediate crude climbed to the highest since June as oil sank toward a 12-year low, according to U.S. Commodity Futures Trading Commission data. Despite a 12 percent rally Friday, prices finished last week down 4.7 percent at $29.44 a barrel. Oil companies including Chevron Corp. and Anadarko Petroleum Corp. have said they will reduce outlays to maintain cash. A group of 44 North American exploration and production firms are planning to spend $78 billion on capital projects this year, down from $101 billion last year, according to IHS Inc. "There are a growing number of people that think the market has put in a bottom," said Phil Flynn, senior market analyst at Price Futures Group in Chicago. "There?s a growing realization after all the announcements of cuts in capital expenditures that we?re going to see a drop in production." QuickTake Oil Prices Gloomy Outlook The increase in bullish bets comes even as the world?s biggest oil companies lamented the state of the market at International Petroleum Week in London. ?The oil industry is facing a crisis,? said Patrick Pouyanne, CEO of Total SA, Europe?s biggest refiner. BP Plc boss Bob Dudley described himself as ?very bearish.? The International Energy Agency increased its estimate for excess global supply during the first half of the year by 250,000 barrels a day. Concern that the glut is worsening drove the discount for front-month futures versus a month later to the widest since 2011. The bigger contango has encouraged traders looking to store oil to sell at a higher price in the future to rent more-expensive supertankers as onshore tanks fill up. Inventories at Cushing, Oklahoma, the delivery point for WTI, rose to a record in the week ended Feb. 5, and nationwide supplies hover near the highest since 1930, Energy Information Administration data show. Speculators? long position in WTI rose by 1,152 contracts to 302,384 futures and options in the week ended Feb. 9, CFTC data show. Shorts, or bets that prices will decline, slipped 2.1 percent. Net-longs increased 5 percent to a three-month high. Trading volume jumped to a record high on Thursday when prices sank to the lowest level since 2003. Volatility is also surging. The CBOE Crude Oil Volatility Index, which measures expectations of price swings, climbed to the highest level in seven years Friday. Other Markets In other markets, net bearish wagers on U.S. ultra low sulfur diesel decreased 6.8 percent to 22,157 contracts. Diesel futures slid 3.6 percent in the period. Net bullish bets on Nymex gasoline slipped 1.9 percent to 14,056 contracts as futures dropped 10 percent. A Wood Mackenzie report last week showed that just 100,000 barrels a day of output has been shut in so far because of low prices. That doesn?t include natural declines in production from aging fields. "We?ve become very impatient," said Sarah Emerson, managing director of ESAI Energy Inc., a consulting company in Wakefield, Massachusetts. "The investment cuts will result in falling U.S. production this year, it just takes a while."
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happyharvest Elite	15-Feb-2016 03:01        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	hmmmm  " Have we got to the point where we can say there is a definite strategy? In terms of production reduction or freezing, no, I don' t think we have got there. But there is a lot of energy (behind the idea)," Kachikwu said.  Lucky03      ( Date: 15-Feb-2016 00:35) Posted: OPEC members increasingly keen to end oil glut - Nigeria oil minister Reuters 11 mins ago By Julia Payne ABUJA (Reuters) - The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister told Reuters. Oil prices have slumped by more than 70 percent to near $30 a barrel over the past 18 months as OPEC, led by top producer Saudi Arabia, sought to drive higher-cost producers out of the market by refusing to cut production despite a supply glut. The price crash has crippled some economies that depend heavily on oil sales for income, such as Nigeria and Venezuela, and even Saudi Arabia is shoring up its resources to withstand the painful revenue drop. "There's increased conversation going on. I think when we met in December ... they (OPEC members) were hardly talking to one another. Everyone was protecting their own positional logic," Nigerian oil minister Emmanuel Ibe Kachiwku told Reuters in an interview. "Now I think you have cross-logic ... they are looking at what are the deficiencies, what is the optimum." Struggling oil producers have made repeated calls for an emergency OPEC meeting, but Kachikwu said that the timing had not been right. The cartel's next regular meeting is in June. "We haven't been sure that if we held those (emergency) meetings that we could actually walk away with some consensus," Kachikwu said. "A lot of barrels are tumbling out of the market from non-OPEC members, so the Saudi philosophy is obviously working. But it's not influencing the price higher, which means that whether we like it or not some barrels are coming in from ... members and non-members to cover whatever is dropping out." IEA WARNING The International Energy Agency said on Jan. 19 that oil markets could be oversupplied by as much as 1.5 million barrels per day in the first half of 2016 and warned that prices could decline further as Iran's emergence from economic sanctions brings more crude to the market. OPEC has declined to trim output without help from non-members, which so far have refused to participate. Russia, the world's biggest oil producer, has played coy by floating the idea of a cut without saying whether it would participate. In an attempt to find a compromise, Venezuela's oil minister recently proposed a freeze on new production to place a cap on the growing glut while not requiring countries to surrender market share. Kachikwu said that he would meet his Qatari and Saudi counterparts next week to discuss the situation. "Have we got to the point where we can say there is a definite strategy? In terms of production reduction or freezing, no, I don't think we have got there. But there is a lot of energy (behind the idea)," Kachikwu said. "As you get closer to the statutory (OPEC) meeting dates ... you are going to see a lot more people get active in those conversations and try to find solutions."
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Lucky03 Elite	15-Feb-2016 00:35        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	OPEC members increasingly keen to end oil glut - Nigeria oil minister Reuters 11 mins ago By Julia Payne ABUJA (Reuters) - The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister told Reuters. Oil prices have slumped by more than 70 percent to near $30 a barrel over the past 18 months as OPEC, led by top producer Saudi Arabia, sought to drive higher-cost producers out of the market by refusing to cut production despite a supply glut. The price crash has crippled some economies that depend heavily on oil sales for income, such as Nigeria and Venezuela, and even Saudi Arabia is shoring up its resources to withstand the painful revenue drop. "There's increased conversation going on. I think when we met in December ... they (OPEC members) were hardly talking to one another. Everyone was protecting their own positional logic," Nigerian oil minister Emmanuel Ibe Kachiwku told Reuters in an interview. "Now I think you have cross-logic ... they are looking at what are the deficiencies, what is the optimum." Struggling oil producers have made repeated calls for an emergency OPEC meeting, but Kachikwu said that the timing had not been right. The cartel's next regular meeting is in June. "We haven't been sure that if we held those (emergency) meetings that we could actually walk away with some consensus," Kachikwu said. "A lot of barrels are tumbling out of the market from non-OPEC members, so the Saudi philosophy is obviously working. But it's not influencing the price higher, which means that whether we like it or not some barrels are coming in from ... members and non-members to cover whatever is dropping out." IEA WARNING The International Energy Agency said on Jan. 19 that oil markets could be oversupplied by as much as 1.5 million barrels per day in the first half of 2016 and warned that prices could decline further as Iran's emergence from economic sanctions brings more crude to the market. OPEC has declined to trim output without help from non-members, which so far have refused to participate. Russia, the world's biggest oil producer, has played coy by floating the idea of a cut without saying whether it would participate. In an attempt to find a compromise, Venezuela's oil minister recently proposed a freeze on new production to place a cap on the growing glut while not requiring countries to surrender market share. Kachikwu said that he would meet his Qatari and Saudi counterparts next week to discuss the situation. "Have we got to the point where we can say there is a definite strategy? In terms of production reduction or freezing, no, I don't think we have got there. But there is a lot of energy (behind the idea)," Kachikwu said. "As you get closer to the statutory (OPEC) meeting dates ... you are going to see a lot more people get active in those conversations and try to find solutions."
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happyharvest Elite	14-Feb-2016 22:49        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://presstv.ir/Detail/2016/02/14/450278/Iran-raises-oil-output-by-400k-bpd-   How will this impact oil price? priced in already?
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jazzietan Veteran	14-Feb-2016 14:28        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://seekingalpha.com/article/3892466-opec-will-cut-production?ifp=0
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sheerluck Supreme	14-Feb-2016 00:45        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	If Saudi and Russia at odd about this Syria issue, what is the likelilhood of them doing a real coordinated cupply cut? Lucky03      ( Date: 13-Feb-2016 20:14) Posted: Will that disrupt supply of crude oil or how else will it impact crude price ? jazzietan      ( Date: 13-Feb-2016 19:42) Posted: SA prrparing ground attack in syria liao
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Lucky03 Elite	13-Feb-2016 20:14        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will that disrupt supply of crude oil or how else will it impact crude price ? jazzietan      ( Date: 13-Feb-2016 19:42) Posted: SA prrparing ground attack in syria liao
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jazzietan Veteran	13-Feb-2016 19:42        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	SA prrparing ground attack in syria liao
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jazzietan Veteran	13-Feb-2016 15:52        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	U may wish google uso co relation to wti chart. There are alot, thats why im skeptical as long term investment. However, oil etfs are gd when there is strong sustainable rally. Not for bearish or flat stagnant level jazzietan      ( Date: 13-Feb-2016 15:44) Posted: It is normal behaviour for etfs. Even uco leverage is2x, but it did not go up by 2x of oil up % too. That is why oil etf & etn are not highly recommended for long term investment. Profits will not be handsome even if oil go up, or worst if oil price remain or go down, these etfs go down even faster. sriramanv      ( Date: 13-Feb-2016 15:13) Posted: WTI moved up 10% last night, but USO dint move same..something not in sync
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jazzietan Veteran	13-Feb-2016 15:44        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is normal behaviour for etfs. Even uco leverage is2x, but it did not go up by 2x of oil up % too. That is why oil etf & etn are not highly recommended for long term investment. Profits will not be handsome even if oil go up, or worst if oil price remain or go down, these etfs go down even faster. sriramanv      ( Date: 13-Feb-2016 15:13) Posted: WTI moved up 10% last night, but USO dint move same..something not in sync
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sriramanv Master	13-Feb-2016 15:13        sriramanv About Contact  Quote this Post!
x 0   x 0  Alert Admin	WTI moved up 10% last night, but USO dint move same..something not in sync
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jazzietan Veteran	13-Feb-2016 15:13        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	All manipulated. Longists and shortists are their chess. They decide your fate once u decided in. Now, when everyone at cnbc and bloomberg start blabbering negative on oil, we need to think.
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CraigFoo Elite	13-Feb-2016 13:56        CraigFoo About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	The US rig count fell by 28 to 439 last week, as low as it was in 2010, Mr Melek said. "So ultimately we should expect lower production... and with lower production in the US, it's more likely Saudi Arabia and other Opec members might want to decrease output."
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jazzietan Veteran	13-Feb-2016 13:06        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Okie dokie
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nqing87 Supreme	13-Feb-2016 11:39        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	saudi will need to make oil permanently at a low like at this level in order to kill shale producers & not allow their return.. the moment oil price goes up after some shale producer dies off, new players come back in again.. so do u think it is possible to kill off competition from shale permanently? they can of course, but they will need to keep price at this level & as a result, earn very much less revenue.. as long as the technology is there, there is no way to remove shale out of the picture & they will come back in eventually whenever price goes up.. during this oil crash saga, opec had increased about 10% market share, but they earning like more than 70% less revenue.. oil follows an inelastic demand, meaning a big fall in price only increase the demand by a little.. so in economic sense, it will be better for the saudi to just maintain or reduce their production levels instead of increasing them.. just observe what russia is doing in their political stance & i think it follows quite closely with the oil price.. i remember oil price starts to drop during the ukraine conflict in 2014.. and it exacerbates further when russia poke their business inside syria..  nyde1d1th      ( Date: 13-Feb-2016 11:01) Posted: not shorting oil...my point is no fundamental reason for oil to shoot up now...whatever the chart says...nobody is cutting production and demand is weakening not strengthening.. and again why would saudi give up now after all they have done...competition not dead yet...reverse all that they have done? CraigFoo      ( Date: 13-Feb-2016 10:19) Posted: first low 26.1, second low 26.04 followed by a 10% bounce. Double bottom? A reversal always come at the most unexpected time. Be careful if you are adding shorts at these levels.
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nqing87 Supreme	13-Feb-2016 11:29        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	hmm, seems like syria conflict subsiding.. if russia ease their conflict over at syria, the saudi may agree to sit down & talk to reduce production
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nyde1d1th Veteran	13-Feb-2016 11:01        nyde1d1th About Contact  Quote this Post!
x 0   x 0  Alert Admin	not shorting oil...my point is no fundamental reason for oil to shoot up now...whatever the chart says...nobody is cutting production and demand is weakening not strengthening.. and again why would saudi give up now after all they have done...competition not dead yet...reverse all that they have done? CraigFoo      ( Date: 13-Feb-2016 10:19) Posted: first low 26.1, second low 26.04 followed by a 10% bounce. Double bottom? A reversal always come at the most unexpected time. Be careful if you are adding shorts at these levels. nyde1d1th      ( Date: 13-Feb-2016 09:40) Posted: same rumour peddled...price will tank as fast as it went up...soon even rumours will not work... you can wait long long for saudi to cut production...why the hell would they let price rise and let shalers come back into the picture...
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jazzietan Veteran	13-Feb-2016 10:57        jazzietan About Contact  Quote this Post!
x 0   x 0  Alert Admin	5 waves on the decline done...chk the chart
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