You will need to transfer the money from your ANZ acc into your omca
Printable View
You will need to transfer the money from your ANZ acc into your omca
Sorry, I may have not been that clear. One holding does go straight to my omca account (and got the advice from Computer share that it had been deposited into that account). Just hasn't shown yet. The other two payments have shown in both BNZ and ANZ bank accounts on Friday.
Why Oil Price Is on Its Way Back to $80-120
http://russia-insider.com/en/2015/02...nes11_21_2014)
I also read another article where it said that the oil forcasters knew what was going to happen. The price range was between 20 to 200 hundred. So somebody is going to be right when all the dust settles. I have put MHO that it will take two years from last june for all this to work throw the system. So using my two year range I think NZO is doing the right thing by buying into depressed oil companies.
Hmm - just wondering what the agenda of a website called "Russia-Insider" might be? Hi Mr. Putin ...
Whatever it might be - the findings and assumptions of the article are not quite consistent with other public available information. Obviously - nobody knows what the oil price will do in the next year or so (or even next month ...), but some of the assumptions in the article are just plain wrong.
E.g. it is assuming that oil price needs to go up soon given the high production cost of e.g. shale oil. Fact is, that the Saudis alone can flood the world at current consumption rates for another couple of decades with cheaper oil (say for $40 or less) - if that's what they wish to do.
Furthermore - I've recently seen the production costs for shale oil - and yes, there are some fields where you need a $80 to $100 break even, but from memory roughly half of the production was already viable around $60 ... and some less. Tendency: increased efficiencies making it cheaper to supply shale oil.
So - no matter what the agenda of the author of this article was - it is in my view more driven by wishful thinking, than by facts.
The reduction in rig count will have little impact on North American crude production for at least 6 months imo.
I think we will see the biggest glut of crude the world has seen. There is so much Brent crude being stored off market & the main reason for the Brent price rising has been this storage trade that lifts the front of the curve i.e. spot & flattens the back. This is why Brent has outperformed WTI in recent weeks by around 15%. However that arbitrage trade will shortly be uneconomic & that's when we will see oil get smashed again in my view. Its also why the commodity banks are so bearish as they see this swap trading going through the market & they know the full extent of it. My coal is for at least sub $40 oil and perhaps close to $30 oil. The Saudis want to crush the excess production from other producing countries. I update the peak oil thread regularly if you want more info on this sort thing.