M_Ali + 32 April 2, 2020 (edited) Trump Tweet Sends Oil Soaring 25% By Tsvetana Paraskova - Apr 02, 2020, 10:30 AM CDT Join Our Community Oil prices spiked on Thursday morning after U.S. President Donald Trump said that he spoke with the Saudi Crown Prince, and hoped and expected that Saudi Arabia and Russia would “cut back approximately 10 Million Barrels, and maybe substantially more,” sending oil prices soaring by 20%. “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!” President Trump tweeted on Thursday. Translation: Trump to Putin and MBS: Go F...yourself, I ain't cutting production, you'll never force our tremendously over leveraged shale oil production out of the market, we'll never be taken as energy hostage by evil and rough states; If you want higher oil prices you cut production. we're the greatest & cheapest oil producer of the world. No combined global oil pumping power matches our dollar pumping power. Figure that out. Edited April 2, 2020 by M_Ali 1 Quote Share this post Link to post Share on other sites
Ex-Oilman + 1 DB April 2, 2020 OilPrice is going to have egg on their faces if this plays out and the world sees higher oil prices. They’ve been nothing but doom and gloom for the last week. 1 Quote Share this post Link to post Share on other sites
wolfie + 1 ps April 2, 2020 Agreed they told us to not buy oil stocks this week and then asked did we take advantage of the 20% rise 1 Quote Share this post Link to post Share on other sites
Tristan 0 TT April 4, 2020 (edited) On 4/3/2020 at 1:09 AM, M_Ali said: Trump Tweet Sends Oil Soaring 25% By Tsvetana Paraskova - Apr 02, 2020, 10:30 AM CDT Join Our Community Oil prices spiked on Thursday morning after U.S. President Donald Trump said that he spoke with the Saudi Crown Prince, and hoped and expected that Saudi Arabia and Russia would “cut back approximately 10 Million Barrels, and maybe substantially more,” sending oil prices soaring by 20%. “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!” President Trump tweeted on Thursday. Translation: Trump to Putin and MBS: Go F...yourself, I ain't cutting production, you'll never force our tremendously over leveraged shale oil production out of the market, we'll never be taken as energy hostage by evil and rough states; If you want higher oil prices you cut production. we're the greatest & cheapest oil producer of the world. No combined global oil pumping power matches our dollar pumping power. Figure that out. Trump was going to visit oil producers next weeks so he talks it up and oil jumps 10$. Trump is always talking nonsense and spouts lies daily at an incredible rate. The oil traders and speculators are desperate for good news because they all know it will jump massively on the slightest pretext and they will make tons of money...Trump himself is deep in a hole financially with all his hotels and golf courses empty and will probably go bankrupt AGAIN. Of course he wants the economy open again - does he give a sh** about oil? NO...he wants oil workers to vote for him. If there is one thing that will help the global economy....ITS LOW OIL PRICES!!! Who does it hurt as a % of the world? Tin pot corrupt countries like the Middle East, Nigeria , Venezuela who swim in money and spend it on themselves. Russia does not depend on oil and can handle low prices. USA of course would be hurt, and no doubt many will lose jobs, but the vast majority of the poor world wide will benefit massively from low oil/petrol/heating fuel prices. Its not so long ago that the world was used to 10$ oil ( 70's and before), then 25$ was a massive hike. Now we think of 50$ oil as normal....its NOT. There is no shortage of oil at al.. Since i was a kid in the 60's I have been hearing that oil was gonna run out as an excuse for price jumps. Now we let oligopolies get together and artificially manipulate the price up to stupid levels. When Goldman Sachs hyped oil to 150$ with stupid reports of "geopolitical risks" when one Nigerian oil worker got killed in the Nigerian delta...the world went into recession instantly! It was barely recovering at 50$ oil. If we can pour those billions back into the pocket of the lower and middle classes instead of rich oil oligarchs, it will do more to recover the world economy that those trillions they are throwing out by printing money. Get real guys, Trump is an opportunist and oil price will go back down when they realise he is talking nonsense as usual. Probably placed a big market bet before he tweeted that and minted money! The only thing that will push the real oil price ( as opposed to the speculative trader driven price) up is a severe cut back in production combined with a recovery of demand. Anything else is hype Edited April 4, 2020 by Tristan Mispellings Quote Share this post Link to post Share on other sites
El Nikko + 2,145 nb April 4, 2020 3 hours ago, Tristan said: Trump was going to visit oil producers next weeks so he talks it up and oil jumps 10$. Trump is always talking nonsense and spouts lies daily at an incredible rate. The oil traders and speculators are desperate for good news because they all know it will jump massively on the slightest pretext and they will make tons of money...Trump himself is deep in a hole financially with all his hotels and golf courses empty and will probably go bankrupt AGAIN. Of course he wants the economy open again - does he give a sh** about oil? NO...he wants oil workers to vote for him. If there is one thing that will help the global economy....ITS LOW OIL PRICES!!! Who does it hurt as a % of the world? Tin pot corrupt countries like the Middle East, Nigeria , Venezuela who swim in money and spend it on themselves. Russia does not depend on oil and can handle low prices. USA of course would be hurt, and no doubt many will lose jobs, but the vast majority of the poor world wide will benefit massively from low oil/petrol/heating fuel prices. Its not so long ago that the world was used to 10$ oil ( 70's and before), then 25$ was a massive hike. Now we think of 50$ oil as normal....its NOT. There is no shortage of oil at al.. Since i was a kid in the 60's I have been hearing that oil was gonna run out as an excuse for price jumps. Now we let oligopolies get together and artificially manipulate the price up to stupid levels. When Goldman Sachs hyped oil to 150$ with stupid reports of "geopolitical risks" when one Nigerian oil worker got killed in the Nigerian delta...the world went into recession instantly! It was barely recovering at 50$ oil. If we can pour those billions back into the pocket of the lower and middle classes instead of rich oil oligarchs, it will do more to recover the world economy that those trillions they are throwing out by printing money. Get real guys, Trump is an opportunist and oil price will go back down when they realise he is talking nonsense as usual. Probably placed a big market bet before he tweeted that and minted money! The only thing that will push the real oil price ( as opposed to the speculative trader driven price) up is a severe cut back in production combined with a recovery of demand. Anything else is hype The funny thing is the lower and middle classes will just end up giving any 'free money' (their future tax revenues) to the banks anyway. Quote Share this post Link to post Share on other sites
Douglas Buckland + 6,308 April 4, 2020 (edited) On 4/3/2020 at 6:15 AM, wolfie said: Agreed they told us to not buy oil stocks this week and then asked did we take advantage of the 20% rise So you form your investment strategy based on articles and comments you find on OP? Either brave or stupid. Edited April 4, 2020 by Douglas Buckland Typo 1 Quote Share this post Link to post Share on other sites
James Regan + 1,776 April 4, 2020 (edited) On 4/2/2020 at 7:15 PM, wolfie said: Agreed they told us to not buy oil stocks this week and then asked did we take advantage of the 20% rise Douglas you beat me I was too busy figuring out my first world problems listening to lucid guitar solos and trying to forget the reverberating feedback oozing from some of the nuggets (endearing term) who are watching the show. Who TF are "They" - Wolfie would you jump of a bridge if "they" told you to, no you wouldn't. I understand your are new here but be careful as this place is full of false profits (?) who will lead you to make rash judgements, if your trading oil or oil companies you do not want to base your trades or investments on info from this forum, each editorial often contradicts the last, this is a beautiful thing. Anyone comfortably trading in commodities or said exploiters at this time is either a poker player or has inside knowledge (Them), two weeks ago yes even an oilfield hand could have made a fortune shorting oil, if you make any play short or long at this point, it may well end in tears. Good luck dude... Edited April 4, 2020 by James Regan 1 Quote Share this post Link to post Share on other sites
Douglas Buckland + 6,308 April 4, 2020 Where’s Zhong when you need him?😂 Quote Share this post Link to post Share on other sites
Ex-Oilman + 1 DB April 4, 2020 Tristian...refinery workers make $40+ an hour now days. At $10 a barrel your living in past. Stay there or just continue to keep your head buried in the sand. Go else where if you want to Trump bash. Quote Share this post Link to post Share on other sites
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