Finally,...

From Bloomberg News :-

Non-OPEC : Russia, the biggest producer outside the bloc, had previously resisted calls to trim its production, insisting it would only consider a freeze. OPEC plans to hold talks with non-0PEC producers next week in Doha.

And then : The strength of the deal will depend on whether all parties deliver on their commitment. Saudi Arabia and its Gulf allies, the U.A.E. and Kuwait, have traditionally stuck to their cuts, but some others haven’t, particularly when prices are low. Any doubt in the market could once again see prices come under pressure.

And moving on : The group will meet again on May 25 next year, at which point it intends to extend the cuts by another six months, Qatari Energy Minister Mohammed Al Sada told reporters in Vienna.


Life is good for the oil ministers,... always meeting in Vienna. Nice city, beautiful people,... why can't they come to Asia for a change, meet in KL, perhaps ?

Lets monitor whether MYR will goes up or down as the show gonna begin soon

RM IS STRENGTHENING,.. A GOOD EARLY SIGN,...

Looks like I made the wrong call to Long USD

malaysia no cut?

Msia is not in opec....

M'sia is not an OPEC member

so the next non opec meeting in doha will include us then,?

Only if we're invited. We need to monitor the news to see if Msia is invited. Anyway,..... I don't think Msia's production matters much. Wouldn't skew the world production that much,... just like Indonesia's production won't affect much.

Unlikely as our production level is insignificant atm

No bro,... it is never wrong to hold the USD from now,... You must know the intention of ecstasy on this rise,... many will exit at a certain level. We are only hoping that the rise be big enough for us to exit the Ringgit,...

U plan to exit at wat level?

I got some doubt..
Let's see how

yup
like malaysia, indonesia is net importer for oil & their output was only 722kbpd last oct
OPEC cartel expect them to cut 34kbpd of course indo cant commit to that

i would expect profit taking move down before 19 dec, that is the date for real process of selecting the president. 8 nov is just entertainment lol

Don't really know,.. when my graph starts to turn,.. I will buy convert out already,...Tendency is very high for the Ringgit not to be able to sustain this momentum,....

I tot OPEC will hold talk with non OPEC members on 9/12 to discuss potential cut?

Yuan slide weighs on ringgit
http://www.thestar.com.my/business/busines...ghs-on-ringgit/

Very likely PBOC will set ref rate @ 7 next yr

same old, same old... rising $, weak RMB, low oil price... all external, can't control, not too bad.

oil price up 8%.

RM still 4.46x.

looks like oil price has become moot!



why some are saying RM is strengthening??

yup, u said it. "potential"
i would wipe my ass with that paper if non opec members mainly russia don't comply with the agreed cut amount on that date lol

Hahaha...
Looks like MYR is immune on wat ever direction of oil price