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

StockMarketWire.com
Premier Oil director, Falkland Islands and SE Asia, Neil Hawkings, has decided to step down from the board with effect from 30 June.

He will continue to work for Premier on a consultancy basis, with a particular focus on the Falkland Islands and SE Asia business units and will continue as a member of the Executive Committee. Independent non-executive directors David Bamford and Michel Romieu will stand down from the board at the close of the annual general meeting on 11 May.

Chairman Mike Welton said: "It is incumbent on us, in the current commodity price environment, to consider the appropriate size of board membership. I would like to thank David Bamford and Michel Romieu for their significant contribution to the Board and the Company during their service period as Board members and to wish each of them well for the future.

"I would particularly like to thank Neil Hawkings, who has been an executive Board member for over 10 years. I am delighted that Neil will continue to play a key role going forward in the business units and projects where his expertise is most valuable."

Was PMO on the ABCD?
Are now on a double TOP?

a basic ABCD from the initial move from 25p on 10th Feb to 47p on 22nd Feb........then a 61.8% Fibonacci retrace to 33p on 2nd March......then a 127% Fibonacci extension to the next high where was a good time to take profit at point D............the Sp then declined 38.2%

Do not think ABCD has got much to do with it reckon CPPB more relevant i.e. crude price per barrel
lol

I think your right :)

By Dmitry Zhdannikov and Henning Gloystein

LONDON/SINGAPORE, April 15 (Reuters) – Oil prices fell on Friday in thin trade as analysts said a weekend meeting of major oil exporters would do little to help to clear global oversupply quickly, even though it would provide a floor for the market.

Oil producers led by top exporters Saudi Arabia and Russia will meet in Doha, Qatar, on Sunday to discuss freezing output around current levels in an effort to contain a glut exacerbated by production that exceeds demand by about 1.5 million barrels a day.

It would be the first joint action by major OPEC and non-OPEC producers in 15 years, though Iran has refused to participate, saying that it wants to rebuild its output to levels achieved before imposition of the recently lifted economic sanctions.

"Momentum is building behind an agreement that likely excludes Iran (and potentially Libya). While there will likely be little effect on the physical market an agreement would represent an important psychological shift in setting oil prices," investment bank Jefferies said on Friday.

Brent crude futures were down 2 percent at $42.93 by 1330 GMT. U.S. West Texas Intermediate (WTI) futures were also down 2 percent, trading at $40.63, having lost as much as 3 percent earlier in the day.

Yet with discussions among producers focusing on freezing output rather than cutting it, most analysts said they had little hope for a deal that reduces the global oversupply.

The glut has pulled down crude prices by as much as 70 percent since mid-2014.

"The Doha meeting does not materially change the oil market balances," Barclays said.

"If recent supply-side fundamental support holds and the market's expectations for a credible statement and commitment are met, the meeting could help prevent prices from falling back to the low $30 range." Consultancy Petromatrix said it saw the Saudis as a G20 member pushing for a deal to freeze output because both the IMF and the U.S. Federal Reserve are growing increasingly impatient about low oil prices.

"Saudi Arabia has already frozen production at January levels and it now needs other countries to make some concessions," said Olivier Jakob, of Petromatrix.

"Otherwise it fears that it will be forced by the G20 and its international institutions to cut production to stabilise oil prices – and cutting production is something it does not want to do as Iran comes back." Energy consultancy Wood Mackenzie said that even if a deal is agreed, it does not expect a genuine freeze to occur during the remainder of 2016.

Instead, Wood Mackenzie said it expects OPEC output to rise by 0.5 million barrels per day year on year in 2016, with most of that growth coming from Iran and Iraq, both of whom have indicated plans to increase output this year.

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 :)
------------
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.