not forgetting russia also started to increase oil production & giving discount to Asian buyers

both China & Japan is among the world biggest buyer

Oil prices slipped on Monday on worries about oversupply in North America, with Brent futures dropping below $60 a barrel and U.S. contracts hovering around $50.30.

"We expect oil's rally to peter out as weakening fundamentals overwhelm the recent rally," said ANZ Bank in a note on Monday.

"Near-term topping signals for WTI crude oil endorse our expectation of further choppy consolidation," said Barclays in a note. "A move below nearby support in the $48.20 area would signal a squeeze towards the range lows at $44.37 where we would look for signs of a base."

Morgan Stanley warned U.S. crude stocks were set to build through May.

"Despite optimism about the large drop in the U.S. rig count in recent weeks, the pace of decline has been decelerating," it said.

IMF: Oil price drop to have 'a modest negative impact' on M’sia’s near-term growth prospects
http://www.theedgemarkets.com/my/article/i...ts?type=Markets

OPEC is likely to maintain its production policy at a meeting in June, Kuwait's OPEC governor said on Tuesday in the first public comment on what would be a crucial decision to determine the direction of global oil prices in the second half of the year.

Many OPEC oil ministers including Saudi Arabia's Ali al-Naimi have defended the organisation's November decision not to cut production but instead defend market share and curtail the output of more expensive producers such as the United States.

Brent crude oil slipped to a one-month low below $56 a barrel on Wednesday, before steadying as a rally in the U.S. dollar and global oversupply weighed.

"We expect more downward pressure today," said Phillip Futures oil analyst Daniel Ang in Singapore, after Brent fell more than 3 percent on Tuesday.

U.S. oil output could start to take a hit by late 2015, OPEC said on Monday, suggesting the exporter group will have to wait beyond its next meeting in June to see if the oil price collapse is beginning to dent the shale oil boom.

OPEC holds its next meeting in June and comments from OPEC officials so far suggest it will not adjust its output policy at the meeting as it waits for the strategy to take effect.

For now, OPEC forecast no further rise in demand for its crude in 2015, trimming the forecast slightly to 29.19 million bpd, and left unchanged its estimate of global growth in oil demand this year.

well OPEC said year end. let's wait & see how true

OPEC has no choice but to keep its market share and shun oil output cuts, Kuwait's oil minister said on Thursday, reiterating the view from the emirate that the group will hold its course when it meets next in June.

The accord pushed oil prices below $50 per barrel, extending a sharp decline that began in June amid a global glut of crude and weakening demand.

Oil drops as Saudi says will not cut output alone, weak China import hurts
http://www.theedgemarkets.com/my/article/o...ts?type=Markets

April retail price based on whole March not on 31

weaker RM would be the popular excuses to maintain or increase the retail price

Oil to reach $100 a barrel by end of 2016: US oil magnate T. Boone Pickens
http://www.thestar.com.my/Business/Busines...2016/?style=biz

Brent crude oil prices shot up nearly 6 percent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although Asian importers said they were not immediately worried about supply disruptions.

http://www.theedgemarkets.com/my/article/o...en?type=Markets

correct, it's more on speculation than supply disruptions

some pipu needed to cari makan

This post has been edited by nexona88: Mar 26 2015, 03:56 PM

eating popcorn while watching on side sifu2 sekelian argue about US shale oil & world crude price war

yes, desperate for cash & I can really sense it.. I bet those on streets also feel it..

stanzai comment is also good.. He have 1st hand experience because he currently in O&G sector while most of us only hear stories or from research

extra crude supply from Iran after the deal?

I see...

Oil falls as Iran, China discuss more supply
http://www.theedgemarkets.com/my/article/o...ly?type=Markets