Manonamission:


Well I felt it was more applicable to you both at this instance. You obviously don't see my point so it's fine. No harm intended.

Of course I get your point.

All am saying is that you do not beat a child and still ask him not to cry. There are always action and reaction. Address both!

OPEC President Says Shale Surge Won't Thwart Plan to Clear Glut
By Mahmoud Habboush
, Wael Mahdi
, Salma El Wardany
, and Tamim Elyan
February 12, 2018, 12:03 PM GMT+1
Updated on February 12, 2018, 10:00 PM GMT+1

U.S. shale won’t be ‘huge distorter’ for oil market: Mazrouei
Stronger demand, compliance with oil cuts seen to buoy prices

OPEC's Control of the Oil Market Is Running on Fumes

Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president.

The market should re-balance this year, given robust demand and producers’ compliance with their pledges to curtail supply, United Arab Emirates Energy Minister Suhail Al Mazrouei, currently the president of the Organization of Petroleum Exporting Countries, said Monday in an interview in Dubai. The market is “on course to restoring balance” for the first time since 2014, OPEC’s Secretary-General Mohammad Barkindo said at a conference in Cairo.

Oil demand is set to grow by 1.6 million barrels a day in 2018, the same level as last year, and crude inventories are continuing to dwindle as OPEC and other producers pursue their output cuts until the end of the year, Barkindo said Monday. Venezuela is proposing that OPEC seek a five-year deal for cooperation on output with allied producers beyond 2018, he said.

“Venezuelans see that the cooperation with non-OPEC producers shouldn’t end,” Barkindo told reporters in Cairo. “They have put forward a proposal for the time frame of the cooperation, and that was five years. But this proposal isn’t final, and it’s a work in progress.”
Inventories in Focus

Oil was rebounding from its biggest weekly decline in two years, though gains were limited due to concerns over a resurgence in U.S. shale. The U.S. oil rig count rose last week by 26, the most in a year, to 791, Baker Hughes data showed on Friday. American weekly crude output topped 10 million barrels a day for the first time on record, and the U.S. government forecasts it will balloon to 11 million later this year.

Such an increase would complicate efforts by OPEC, Russia and other producers to prop up crude prices by curtailing supply. The producers agreed in November to extend self-imposed limits on output until the end of this year, seeking to counter a glut fed partly by U.S. shale drillers.

“Shale is coming and the expectation is that it will come stronger than in 2017, and this is something that we have to watch,” Al Mazrouei said. “But considering all factors, I don’t think it will be a huge distorter of the market.”

“What concerns us today is the level of inventories that we need to achieve the five-year average, and I see the market going in that direction and achieving balance,” he said. “How long it will take depends on how long the increase in shale production will take.” Participants in the oil-cuts accord aim for global crude inventories to fall to the average level of the past five years.
‘Unprecedented Conformity’

“Demand for this year is expected to be good, if not better than 2017,” Al Mazrouei said. This, together with “good” economic indicators and compliance with output cuts, indicate that the crude market will balance within the year, he said.

Barkindo said producers’ “unprecedented conformity” with their targets for reducing output is driving progress toward a balance market. Compliance reached a record level of 129 percent in December, for a monthly average of 107 percent last year, and preliminary estimates show that compliance in January will surpass December’s level, he said.

Oil prices are currently at less than half their 2014 peak, with benchmark Brent crude futures up 1.2 percent at $63.53 a barrel in London at 4:06 p.m. local time. Brent tumbled 8.4 percent last week, in the second consecutive weekly loss.

“It’s a correction only. It will come back,” Kuwaiti Oil Minister Bakheet Al-Rashidi told reporters in Kuwait City. Kuwait expects cooperation on oil policy to continue beyond 2018, he said. “We will look for criteria to make sure the market is stable at all times.”

— With assistance by Fiona MacDonald


https://www.bloomberg.com/news/articles/2018-02-12/opec-president-says-shale-surge-won-t-thwart-plan-to-clear-glut

wanaj0:
Seems NSE is collecting mid term money hence the protest.

Jesus learnt obedience by the things which he suffered! Sure people are learning.

Congrats all. This must be mid term test.

Again, just watch the oil price.

Chai, tell them, even Jesus suffered but no one and their pastors want suffer

mendes911:


Of course I get your point.

All am saying is that you do not beat a child and still ask him not to cry . There are always action and reaction. Address both!

Says who? Were you even raised in this country?

GOLDMAN: INVESTORS GROW WARY OF ANOTHER OIL PRICE RALLY.
Feb 12, 2018, 9:30 AM CST
Oil investors have grown wary of another oil price rally as they have doubts about whether U.S. producers would be able to rein in production growth, Goldman Sachs warned in a note.
The investment bank said that even though tailwinds such as global economic growth projections, the possibility of supply disruptions, and discipline among U.S. producers remains, there were misgivings about the last factor.
“Most importantly, investors remain unconvinced U.S. producer discipline will hold,” Goldman wrote in the note, adding, “That supply growth needs to be constrained voluntarily, even in the face of a more constructive demand outlook still leaves investors more focused on other metals and mining, where there is greater confidence in China policy-driven supply constraints.”
Earlier this month, Goldman joined other major banks in revising its oil price projections considerably, saying it expected Brent crude to break the US$80 barrier within the next six months. Goldman sees the price of Brent reaching $75 per barrel within three months, lifting its short-term oil price projection from the previous $62 forecast.
“The rebalancing of the oil market has likely been achieved, six months sooner than we had expected,” the bank’s analysts said in a report, as carried by Bloomberg.

https://oilprice.com/Energy/Oil-Prices/Goldman-Investors-Grow-Wary-Of-Another-Oil-Price-Rally.html

Pull back tinz

Transcorp
- back at the 50dma level , -30% retracement from the 52 week high
- umm

Pull back Watch List

Ucap
- the day low cud be better
- a break below N4 won't be bad , but its only tuesday !
- patience

NSE: GTBank Records Highest Return of 1100% in 10 years
https://www.businesspost.ng/2018/02/13/nse-gtbank-records-highest-return-1100-10-years/

Manonamission:


Says who? Were you even raised in this country?

And did it ever work? A typical Nigerian keeps doing same thing over and expecting a change.

Well, whatever mission you are on, e no fit spoil this bear run that am enjoying...... Try the next person.

fxuser:
Pull back Watch List

Ucap
- the day low cud be better
- a break below N4 won't be bad , but its only tuesday !
- patience

Fidelity
- been waiting for dis for a long time now . .
- nice pull back to the 50dma
- are we going to see 2.50 support retested if this N3 support fails to hold ??
- currently at -30% retracement from 52 week high
- watching dis closely
- will be adding some small small bids below N3 going forward
- umm

mendes911:


You only know yourself.... The person that your direct boss reports to might be on this forum as well.

I remember one time a forum member was trying to exchange words with Wanaj0 and at a point told Wanaj0 that if only he knew how long he has been an expert. Blah Blah Blah.

The guy eat a humble pie when Wanaj0 told him when he started working as an accountant with PWC, obviously the guy was still in secondary school when Wanaj0 started. (I hope I remembered the story correctly).

What am trying to say is that you should keep whoever you are to yourself and also do not take anything that goes on here to heart.

We are here to catch fun and make money. Chill and relax.

It wasn't wanaj0. It was Ayemco.

He left PwC in 1981. Then imagine when he started work. Everyone started apologising to him.

DangFlour
- so the bears are been selective and partial lollxx

"The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong" - G. Soros

enough of "l told you so"and where peter sef, thought this was his job

RabbiDoracle:


Human minds like anything positive happening to them.

We were not selfish with news. We gave the warnings on time. We warned people not to buy high. We warned people to sell down and convert paper profit to cash. The rest is history.

Market will rise tomorrow (it could be that YOUR MUM IS ON THE ROOF)

stories from the fallen house

RabbiDoracle:


It wasn't wanaj0. It was Ayemco.

He left PwC in 1981. Then imagine when he started work. Everyone started apologising to him.

dipoolowoo:
NSE: GTBank Records Highest Return of 1100% in 10 years
https://www.businesspost.ng/2018/02/13/nse-gtbank-records-highest-return-1100-10-years/

I have been in this bus for 14 years; where dem see 1100%?

fxuser:
Pull back tinz

Transcorp
- back at the 50dma level , -30% retracement from the 52 week high
- umm

PULLBACK......

Oga pls remember to tell us you are also trapped here o.

I remember when you alerted us few days ago you added at the day lowest price and you stated it wont fall below the lowest price of that day which was 2.05.

-umm.
-we wait.
-what i know self.
-interesting times.
-doji doji etc.

mendes911:


And did it ever work? A typical Nigerian keeps doing same thing over and expecting a change.

Well, whatever mission you are on, e no fit spoil this bear run that am enjoying...... Try the next person.

Actually that was a joke..... a joke circulated about the Naija mother. Enjoy your bear

Agbalowomeri:


I have been in this bus for 14 years; where dem see 1100%?

Did you enter at the low of Dec'08. Even then, you'd still need to add up the dividend yields and bonus issues to get that. Their approach was to assume an investor bought the stock with 100k in 08 DEC, going by the dividend payments, bonus issues, and capital gains, they figured the 100k portfolio would have been worth 1.1m on Feb 7.

awesomeJ:

Did you enter at the low of Dec'08. Even then, you'd still need to add up the dividend yields and bonus issues to get that. Their approach was to assume an investor bought the stock with 100k in 08 DEC, going by the dividend payments, bonus issues, and capital gains, they figured the 100k portfolio would have been worth 1.1m on Feb 7.

-umm.
-interesting.

locodemy:


PULLBACK......

Oga pls remember to tell us you are also trapped here o.

I remember when you alerted us few days ago you added at the day lowest price and you stated it wont fall below the lowest price of that day which was 2.05.

-umm.
-we wait.
-what i know self.
-interesting times.
-doji doji etc.

since @ manoanmission see it all ok

currentprice

locodemy:


PULLBACK......

Oga pls remember to tell us you are also trapped here o.

I remember when you alerted us few days ago you added at the day lowest price and you stated it wont fall below the lowest price of that day which was 2.05.

-umm.
-we wait.
-what i know self.
-interesting times.
-doji doji etc.

locodemy:


-umm.
-interesting.

locodemy:


PULLBACK......

Oga pls remember to tell us you are also trapped here o.

I remember when you alerted us few days ago you added at the day lowest price and you stated it wont fall below the lowest price of that day which was 2.05.

-umm.
-we wait.
-what i know self.
-interesting times.
-doji doji etc.

i remember this Dec ending .. if ur avg is ard the attached , u cant be ''trapped'' or wat do i know

locodemy:


PULLBACK......

Oga pls remember to tell us you are also trapped here o.

I remember when you alerted us few days ago you added at the day lowest price and you stated it wont fall below the lowest price of that day which was 2.05.

-umm.
-we wait.
-what i know self.
-interesting times.
-doji doji etc.

i also think u didnt get what DAY LOW means

the '' day low'' today for transcorp for example is N1.92 , its a function of opening price and allows market to stay with the +/- 10% limits

u shud know this or im i missing something

currentprice:


since @ manoanmission see it all ok

currentprice

You are a naurri sombori........I don't know what you're talking about

fxuser:



i also think u didnt get what DAY LOW means

the '' day low'' today for transcorp for example is N1.92 , its a function of opening price and allows market to stay with the +/- 10% limits

u shud know this or im i missing something

I cant argue with my oga.
All I need to hear now from oga as bears are laying hands on Transcorp is.....

-Despite pullbacks.
-i'm still heavy here.
-no shaking.
-no matter the falls.

fxuser:


who vex that grizzly bear feeding on big banks yesterday ! !

Which station make I tune to.

awesomeJ:

Did you enter at the low of Dec'08. Even then, you'd still need to add up the dividend yields and bonus issues to get that. Their approach was to assume an investor bought the stock with 100k in 08 DEC, going by the dividend payments, bonus issues, and capital gains, they figured the 100k portfolio would have been worth 1.1m on Feb 7.

Okay, maybe I just dey spend the money without counting the percentage

Just observed. People hardly quarrel during BULL season

This is time to make money. I see that happening between now and as early as mid March, with good timing.

RabbiDoracle:


Which station make I tune to.

Rabbi, if you like plug microphone to this your radio, you won't hear anything Until I finish buying, so that I can sell to you later