BLA + 1,666 BB September 6, 2020 (edited) . . Edited September 8, 2020 by BLA Quote Share this post Link to post Share on other sites
Hotone + 412 September 7, 2020 (edited) 15 hours ago, BLA said: Asia (China) playing producer nations against one another. Example: China will take delivery of over 40 million bbl of U.S. crude this month. A record. Saudis/OPEC have lost pricing control in this environment. It remains to be seen if this is the new normal post pandemic. Hedge funds piling on. Going short. Goldman Sachs says $65 Brent by end of 2021. Surprise . . . Surprise. They want a majority of the $100 Billion+ coming bond issues financing from Saudi, Kuwait, Oman, Bahrain, UAE. China has run out of capacity to consume and store oil. Even as they slowed oil imports in August, they increased their products exports. https://www.reuters.com/article/us-global-oil/oil-falls-after-saudi-cuts-prices-china-slows-imports-idUSKBN25Y017 Edited September 7, 2020 by Hotone Quote Share this post Link to post Share on other sites
Hotone + 412 September 10, 2020 On 9/7/2020 at 7:30 AM, BLA said: . . Chinese refiners may significantly cut oil purchases by as much as 40%, analyst projects. Prepare for a big drop in crude price. Time to short WTI and Brent. https://www.marketwatch.com/story/how-a-big-decline-in-chinas-oil-imports-may-test-the-resiliency-of-the-market-2020-09-08 Quote Share this post Link to post Share on other sites
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