what a week. trump bluffing helped oil higher. will see if it going to collapse on monday or not.
US plan that Russia and Saudis need to cut 10-15 million barrels per day is wonderful. if will work. then US will pump 13 million barrels per day and saudis I do not know much they gonna cut as they pump currently 10 millions and russia pumping 11 million currently. It is going to be intresting how they solve this probleem. russia cuts 5 milion saudis cut 10 million zero and then US will continue 13 million? could it work :)
london red 18:07:24 GMT - 04/03/2020
viies, world is going into a short depression. they could stop altogether and oil still drops - every storage tanker avaliable is full. your negative oil joke may not be wrong certainly when looking at less blends that have added costs. for sure canadian and maybe wti. north sea brent likely safest as cheapest after extraction to storage at sea.
dc CB 18:32:08 GMT - 04/03/2020
Brent is the way to go, or spread . it's the only one that's not "land locked". Don't know if you saw, supposedly, Russia aand Saudis want the US to cut too...only fair this hurting us all. No word at to Trump doing this compromise. See next week.
Mtl JP 18:33:11 GMT - 04/03/2020
cut 10-15 million barrels per day FROM
what current total level of production?
london red 18:38:29 GMT - 04/03/2020
they will all reduce as nowhere to store. its all cloak and mirrors. demand drop is many times 30mbpd. trump is trying to stop a move to $10. russia can live with 20 as can saudis for some time. us shale needs 50. so maybe they can bring price to 30 which still means profits for them but keep us shale firmly in bankruptcy alley. but will no deamnd price isnt going to hold there but drift back down to 20 and maybe less.
Israel MacroMicro 18:43:53 GMT - 04/03/2020
all this drama started because lack of ability to agree about 500k bpd cut, now they can agree about 15m bpd cut
sure, why not?
Mtl JP 19:01:40 GMT - 04/03/2020
red 18:38 and I tot between the two the headchopper , vs putin, would be the one more vulnerable to an internal social upheaval
london red 19:07:37 GMT - 04/03/2020
russia and saudis manage the thoughts of their folks well. no PC all force.
Mtl JP 19:15:13 GMT - 04/03/2020
huh what is this ... enthusiasm for euro or aversion to dlr ?
Mtl JP 19:16:59 GMT - 04/03/2020
DLR challenging its channel S line
Minneapolis DRS2 19:17:08 GMT - 04/03/2020
Traders are going home and liquidity is thin. The sellers are going home, and the buyers are the only ones in the office (figuratively speaking).
Mtl JP 19:25:18 GMT - 04/03/2020
figuratively speaking -> a metaphor for __ ?
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