JAN-1-2020: Maritime Diesel Price to go up Consequently Gas and Diesels too

**ice15** · August 28th, 2018 06:38 PM

Originally Posted by uls

you keep saying oil is under $80

so what's your point?

oil is cheap?

it hasn't been this expensive since 2015

Yes oil is cheap. Very cheap right now.

They were looking at a spike in Q1 but it didn't happen... maybe Q4 will be better.

Oil is so cheap, madaming Oil rigs ang laid up ngayon.
Even Saudi Aramco tried to go private this year!

**uls** · August 28th, 2018 06:40 PM

current oil price is good for Saudi Arabia

good not great

my gauge is Saudi Arabia's forex reserves

as oil price dropped, SA made less money so they had to dip into their savings

see how SA's forex reserves move in correlation to oil price

but when oil reached 80

SA's forex reserves stablized

**uls** · August 28th, 2018 06:47 PM

Originally Posted by ice15

Yes oil is cheap. Very cheap right now.

They were looking at a spike in Q1 but it didn't happen... maybe Q4 will be better.

Oil is so cheap, madaming Oil rigs ang laid up ngayon.
Even Saudi Aramco tried to go private this year!

to emerging markets like PH oil is expensive now after nasanay sa $40 / $50 oil

Saudi Arabia was desperate for cash earlier this year so they thought of selling shares of Saudi Aramco to the public

hindi "go private"

go public

taking a company private means buying all outstanding shares of a publicly a listed company so turning the company into a privately-owned one

**ice15** · August 28th, 2018 06:51 PM

Originally Posted by uls

current oil price is good for Saudi Arabia

good not great

Yes, good, not great.
bad for countries like Libya and Venezuela etc

Oil producing countries provide subsidies on almost everything to their locals... It keeps the locals happy = peace
Current oil prices are changing what they know as normal.

Some countries are pumping more oil to help their local economies.

But the oil transport sector is taking a hit.

Look for guys working in the off-shore or tankers. OFWs from middle east.
They will tell you how the low price of oil is hurting them.

Being a car lover, low oil prices is always better.
But there's a time when it has been too low for too long.

**uls** · August 28th, 2018 06:51 PM

but now oil prices have risen, Saudi Aramco isn't going public anymore

Saudi Arabia’s state-owned oil giant has suspended its plans to go public, a decision that puts on hold what would have been by far the biggest initial offering on record — or perhaps signals its cancellation.

**ice15** · August 28th, 2018 06:52 PM

Originally Posted by uls

to emerging markets like PH oil is expensive now after nasanay sa $40 / $50 oil

Saudi Arabia was desperate for cash earlier this year so they thought of selling shares of Saudi Aramco to the public

hindi "go private"

go public

taking a company private means buying all outstanding shares of a publicly a listed company so turning the company into a privately-owned one

sorry, baliktad... yes they were thinking of going public...

Now they're looking at purchasing Sabic instead. (more money in Chemicals right now)

**uls** · August 28th, 2018 06:58 PM

Originally Posted by ice15

But there's a time when it has been too low for too long.

kaya nga OPEC+Russia nag agree mag production cut earlier this year

coz $40 oil is too low

since then they doubled the price

if Saudi Arabia, the heavyweight in OPEC, says they're ok with $80

there's nothing Libya or Venezuela or anyone else can do

**ice15** · August 28th, 2018 07:01 PM

Originally Posted by uls

kaya nga OPEC+Russia nag agree mag production cut earlier this year

coz $40 oil is too low

since then they doubled the price

if Saudi Arabia, the heavyweight in OPEC, says they're ok with $80

there's nothing Libya or Venezuela or anyone else can do

Yes... but at $80... wala pang winter market this year.

It should go up otherwise its a bad year for the energy sector

Oil price should be at it's peak during the "ber" months until Feb... Didn't happen last year. So maybe we'll see it this year.

**uls** · August 28th, 2018 07:02 PM

you say $80 is too cheap but that's relative

if you're talking about $100/$120 oil then $80 is cheap

but we're coming from $40+, even $30 in 2016

now near $80 many economies are hurting

obviously PH is hurting

i'm telling you -- you do not want to see $100 oil

gulo yan dito sa Pinas

**uls** · August 28th, 2018 07:06 PM

Originally Posted by ice15

Yes... but at $80... wala pang winter market this year.

It should go up otherwise its a bad year for the energy sector

Oil price should be at it's peak during the "ber" months until Feb... Didn't happen last year. So maybe we'll see it this year.

please look at historical charts

that "oil goes up during winter" belief doesn't always happen dude