Aramco
Aramco Stock will rise beyond SAR 50According to the huge profit from rising oil prices, the stock value will continue to increase for the first 250 days.
Brent upLibya's National Oil Corporation Says Production At El Feel Oilfield Halted Because Of Air Strikes
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Aramco
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OPEC Mulls Extending Oil Production Cut Deal For 3-6 Months After March 2020
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FITCH SAYS ITS EMEA OIL AND GAS SECTOR OUTLOOK REMAINS STABLE
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Oil price up
Multi Trillion Behemoth goes public next week!That's it. We are going to know what reserves they have. This means how big the supply is. The total supply does not dictate the supply side of what drives the price, production capacity and output decides that.
But anyway the market will surely do something I think.
This will also affect the renawable industry, the renewable bubble (that has not started yet). Maybe Tesla too.
Do we need to work on renewables right away or do we have 5000 years worth of reserves to work it out? (Might be the next ice age by then reee).
Maybe I'm overestimating the impact it will have.
If the country has infinite ressources of decomposed dinosaurs and plankton then renewables are only interesting to people afraid rising co2 levels poses a danger to plants & animals.
Other than that I don't see a reason to invest in companies like Tesla (I also don't see reason even considering that but that's another story).
Aramco released a prospectus Saturday, providing further information but without revealing the precise size of its planned share offering.
Saudi Aramco said the process begins Nov. 17 and closes Dec. 4.
For fun, here are the top 10 world companies by revenue, you might notice a couple of them operate in the Oil & Gas sector:
Here are the 10 top companies by profit:
I've been waiting a while for this IPO.
Valuation is expected to be between 1 and 3 trillion. More than Apple either way.
CRUDEOIL SKYROCKETEDAs per our previous post on crude oil, i am expecting 53 mark that 127.2% extension support but price reversed from 100% level. As per wave principle length of WAVE C = WAVE A, I am looking this impulse move as corrective part.
USOIL SIDEWAYS AHEADAfter huge spike from last week close almost 15% gain on monday, yesterday finished 5 percent negative. As per wave principle i am expecting crude oil enters into the consolidation phase, another few weeks price will be in between 59 to 63 mark.
WTI / USOIL We can get a long buy tradeWe can get a long buy trade
from recent levels 58.30 - 57.80
TP : 60.44
SL : 56.00
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
Good luck >>
Oil: Potential bullish scenarioI think there is a fair chance that oil breaks out, maybe due to fears of war in the Middle East? Maybe due to OPEC extending production cuts, or maybe a bit of both, paired with Trump's comments of wanting a weaker dollar. I think energy positions are a good hold, and even a good chance to add to many, like $OXY, $PBR, $MPC, $PBF, to name a few.
Keep an eye out for the breakout here, if it's confirmed, $XLE will shine surely.
This would play nicely with Saudi Arabia's Aramco IPO as well, which makes a lot of sense to me.
Good luck,
Ivan Labrie.
UCO: We bought yesterday's closeThis is potentially a very good trade, for the time being, we can expect it to retest the top of the range. If you didn't buy with me and my clients yesterday at the close, you can buy here, risking a new low under the recent lowest low. Target is at least a retest of the previous rally's top, but it could evolve into resuming the longer term 'Time at mode' uptrend signal in the oil chart. In the case of $UCO, it could rally to 21.19.
Good luck,
Ivan Labrie.
