What a chart, further to go, or not
Comments please

I think you two talking rubbish

re - Was PMO on the ABCD?

ABCD has already happen and that is already explain on post 322, oil price was rising and PMO was falling as the share price was on the retracement B to C ( end February ), so read before and well

Saudi-Iran tensions scupper deal to freeze oil output
DOHA | BY RANIA EL GAMAL AND REEM SHAMSEDDINE

Saudi Arabia's Oil Minister Ali al-Naimi arrives to a meeting between OPEC and non-OPEC oil producers, in Doha,

A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.

The development will revive oil industry fears that major producers are embarking again on a battle for market share, especially after Riyadh threatened to raise output steeply if no freeze deal were reached.

Iran is also pledging to ramp up production following the lifting of Western sanctions in January, making a compromise with Riyadh almost impossible as the two fight proxy wars in Yemen and Syria.

Some 18 oil nations, including non-OPEC Russia, gathered in the Qatari capital of Doha for what was expected to be the rubber-stamping of a deal - in the making since February - to stabilise output at January levels until October 2016.

But OPEC's de facto leader Saudi Arabia told participants it wanted all members of the Organization of the Petroleum Exporting Countries to take part in the freeze, including Iran, which was absent from the talks.

Tehran had refused to stabilise production, seeking to regain market share post-sanctions.

After five hours of fierce debate about the wording of a communique - including between Saudi Arabia and Russia - delegates and ministers announced no deal had been reached.

"We concluded we all need time to consult further," Qatar's energy minister Mohammed al-Sada told reporters. Several OPEC sources said if Iran agreed to join the freeze at the next OPEC meeting on June 2, talks with non-OPEC producers could resume.

Russian oil minister Alexander Novak called the Saudi demand "unreasonable" and said he was disappointed as he had come to Doha under the impression that all sides would sign the deal instead of debating it.

Novak said Russia was not shutting the door on a deal but the government would not restrain output for now.

Russia is a key ally of Iran and has been defending Tehran's right to raise output post-sanctions while also supporting the Islamic Republic in many of its conflicts with Riyadh.

TOUGH SAUDI STANCE

The failure to reach a global deal could halt a recent recovery in oil prices.

"With no deal today, markets' confidence in OPEC's ability to achieve any sensible supply balancing act is likely to diminish and this is surely bearish for the oil markets, where prices had rallied partly on expectations of a deal," said Natixis oil analyst Abhishek Deshpande.

In December, OPEC failed to agree on output policy for the first time in years after Iran disagreed over a production ceiling proposed by Saudi Arabia, arguing again that it wanted to boost output post-sanctions.

"Without a deal, the likelihood of markets balancing is now pushed back to mid-2017. We will see a lot of speculators getting out next week," said Deshpande, who added that prices could fall close to $30 per barrel.

Brent oil LCOc1 has risen to nearly $45 a barrel, up 60 percent from January lows, on optimism that a deal would help ease the supply glut that has seen prices sink from levels as high as $115 hit in mid-2014.

Amrita Sen of Energy Aspects said oil prices could fall below $40 on Monday in a knee-jerk reaction.

"While today’s lack of a freeze deal has no negative impact on balances - since Iran is really the only country likely to raise output substantially - it has a huge negative impact on sentiment especially as the deal had been hyped up so much," she said.

Gary Ross, the founder and executive chairman of New York-based consultancy PIRA, said the failure to reach a deal was negative but would not have a long-lasting impact.

"The market has recently moved up due to tightening balances. We see geopolitical risks to supply rising, we see U.S. production declining. In many respects, the rebalancing has already started," he said.

Saudi Arabia has taken a tough stance on Iran, the only major OPEC producer to refuse to participate in the freeze.

Deputy Crown Prince Mohammed bin Salman told Bloomberg that the kingdom could quickly raise production and would restrain its output only if Iran agreed to a freeze.

Iran's oil minister Bijan Zanganeh said on Saturday OPEC and non-OPEC should simply accept the reality of Iran's return to the oil market: "If Iran freezes its oil production ... it cannot benefit from the lifting of sanctions."

robinhood - 15 Apr 2016 14:22 - 323 of 327

Do not think ABCD has got much to do with it reckon CPPB more relevant i.e. crude price per barrel
lol
jimmy b - 15 Apr 2016 15:45 - 324 of 327

I think your right :)
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mentor - 17 Apr 2016 20:19 - 326 of 327

I think you two talking rubbish
==================

Still think we are talking rubbish mentor ?

Go to school an read, you have too much of a BIG mouth, and not much brains that is the problem, mixing apples with pears.

I will repeat again as a good Teacher ....
.... now go home and do the home work

ABCD was what happen from end of February to end of March
not what is happening now or last month.
Now is up to you to check and see the facts I gave, or p!ss against the wind as you normally do

PMO is an oil producer so Oil price will always influence the share price, but was that important time that share price was moving against oil price due to retracement

All about the price of a barrel of oil . When you get it wrong your still arrogant.

Pot and kettle alert!

Stan

what you expect when someone has no brains .........
......... and p!ss against the wind

Conclusion for - Jimmy -

gets the SHORTS wet, cuz is not a man enough to wear trousers among other things
and you know what I mean some will say.

this guy is hilarious ...... he is just sooooo predictable

as i've told him b4, if he stuck to his charts and comments on them, he is sometimes interesting to read or even follow

his persistent abuse of anyone with a counter-view is just puerile in the extreme

Once again.. Pot & Kettle alert!

do you mean like me telling you to piss off? :-)

on the other hand, perhaps you'ld be better employed in the akitchen as a plongeur with strict instructions not to leave until you had thoroughly cleaned all the pots and the kettle

You are more then qualified in the business of cleaning Potts and Pans as we all know.

that as may be, but for sure i shan't be running it past you one more time
anyway, it's clear you need the practice :-)

As you appear to have time enough to post on here today I suggest you now go back and dry off.

Stan - Fred needs his shoes polishing, jump to it! :0)

Conclusion for - cynic -

It a LIER ( worse than LIAR ) of first class apart form a BARsteward of just second class, and a miss Meddling of 3er class

only 10 days ago, is telling Tom, DICK and Harry that I am on the "squelch " again, after multiple times of saying the same, but next day was already answering post, mind you today, nothing to do with him.

as i was saying (333)

As I was saying (334) -):

as I was saying post 340

ah; 340 must have been yet another of your predictable abusive posts

re -340

if one has to put a mad DOG down, one has to do it properly
no pussy footing about