Malaysia may boost revenue in 2019 on higher oil price of $72 Brent

[Tom Kirkman + 8,860]

Unexpected article.  But this pretty much fits in with my *hope* for $70 Brent in 2019.

Malaysia to boost revenue in 2019 on higher oil price

Malaysia is expected to receive a boost in its revenue next year on higher oil price, with the local and global analysts predicting the Brent crude to rebound to around US$72-US$75 average a barrel for 2019. 

Some analysts have projected as high as RM1.5 billion extra to the government`s coffers next year. 

This will be on top of additional revenue gains of between RM4 billion and RM6 billion from new tax measures and government asset sales, as well as savings of around RM6 billion from the introduction of a targeted subsidy scheme, an analyst said. 

According to a Bloomberg survey of oil analysts from the world`s biggest banks, the Brent benchmark is expected to rebound to average US$72.5 a barrel in 2019, more than 35 per cent higher than its current price of US$53.27 at press time. ...

[Dan Warnick + 6,100]

Maybe, unbeknownst to you, they are reading your reports.   

[Justin Hicks + 162]

I kind of agree with ED Morse in the Bloomberg article. I believe by US drillers going all out, prices will be lower.

I also don't believe Iran is going to be hurt as much as predicted... They've already proven they can move product on the black market.

I'm sticking with my earlier conservative estimate of Brent at $63-$66.

[Dan Warnick + 6,100]

2 minutes ago, Justin Hicks said:

I kind of agree with ED Morse in the Bloomberg article. I believe by US drillers going all out, prices will be lower.

I also don't believe Iran is going to be hurt as much as predicted... They've already proven they can move product on the black market.

I'm sticking with my earlier conservative estimate of Brent at $63-$66.

That may be, but we had an Iranian national on here a while back that claimed he was in the industry inside Iran, and he said that their ability to move oil had actually, and surprisingly to him/them, been curtailed a great deal.  He claimed it was squeezing Iran much more than they had expected.  Who knows if he was for real, but he hasn't been back and commenting anymore since so maybe he got "censored".

[Justin Hicks + 162]

10 minutes ago, Dan Warnick said:

That may be, but we had an Iranian national on here a while back that claimed he was in the industry inside Iran, and he said that their ability to move oil had actually, and surprisingly to him/them, been curtailed a great deal.  He claimed it was squeezing Iran much more than they had expected.  Who knows if he was for real, but he hasn't been back and commenting anymore since so maybe he got "censored".

I wonder too, about the Malaysian expectation.... Are they basing that off the 10% block the bought in Oman?  Last I read , Petronas contacted another drillship and is going to be doing a lot of plug and abandonment projects in 2019

 

I kind of agree with ED Morse in the Bloomberg article. I believe by US drillers going all out, prices will be lower.

I also don't believe Iran is going to be hurt as much as predicted... They've already proven they can move product on the black market.

I'm sticking with my earlier conservative estimate of Brent at $63-$66.

Edited December 31, 2018 by Justin Hicks
Misspelled word

[Tom Kirkman + 8,860]

21 hours ago, Dan Warnick said:

Maybe, unbeknownst to you, they are reading your reports.   

Bloomberg News and Reuters News used to upvote some of my comments on the old Oilpro forum.  I can dig up some old screencaps if you want proof.

[Dan Warnick + 6,100]

11 hours ago, Tom Kirkman said:

Bloomberg News and Reuters News used to upvote some of my comments on the old Oilpro forum.  I can dig up some old screencaps if you want proof.

I actually trust you, Tom.  And, my comment was not entirely facetious.