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Oil company stocks are roaring with support from the armistice, so what is the truth about “Trump” statements?

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  2. Oil company stocks are roaring with support from the armistice, so what is the truth about “Trump” statements?

02 Apr 2020

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Oil company stocks are roaring with support from the armistice, so what is the truth about “Trump” statements?

European oil stocks rose sharply on Thursday, amid increasing talk of a “peace agreement” to end the oil price war on global markets.
Companies: Royal Dutch Cell, BP, Total, Eni and Equinor rose to the highest levels in nearly a month, with US President Donald Trump saying that Saudi Arabia and Russia will conclude an agreement within “a few days.” His comments came after telephone conversations with Russian President Vladimir Putin and Crown Prince Muhammad bin Salman.

The shares rose as follows: Shell (NYSE: RDSa) by 8.2%, BP (LON: BP) by 7.4%, ENI by 5.7, and Total by 3.6%. The companies also received support from a research note from Goldman Sachs saying that the group of companies remains able to pay the dividends this year, unlike most market companies. Goldman Sachs analysts say the group’s neutral price allows to cover capital expenditures and dividends if the price reaches $ 44 an ounce, after falling from $ 60 a barrel, the previous shock.
Heavy local indices listed on these companies’ shares also rose, as follows: FTSE 100 rose 0.5%, CAC 40 and Milan 40 index rose 0.4%. While the benchmark index, STOXX 600, increased by 0.3%.

Trump came back to remind the markets of the days he moved him to at the end of 2018, when one tweet was turning the market upside down. Trump says the two countries are plotting US oil, which has reached record levels of 5 million barrels per day of production in the coming years, and has acquired the market share of both countries.
On Wednesday, two of the biggest producers saw this strThat produces more than 120,000 barrels per day in North Dakota, with leaves to activate Chapter 11 for bankruptcy protection. BP said it will cut expenditures in its United States shale oil companies by half this year, with a 14 percent drop in its unit production.
Trump will meet today with senior officials from oil companies on Friday, according to repeated statements from Scott Shepherd,ategy as successful, when Witing Petroleum,

CEO of Pioneer Resources. Sheffield continues that the American oil market is divided into 3 scenarios at the present time: the turmoil of the producers who have a huge debt share, they have to continue production, huge companies – such as Exxon – are happy that the stage is free of the weak who are going bankrupt now, and a group of medium-sized companies that suffer from fears The regression of the first scenario if prices do not stop falling.
Trump preferred to wear the American production cuts into the Saudi-Russian agreement, given the depletion of the storage reserves

Oil in the United States. Last week, US oil inventories rose to 13.8 million barrels, while gasoline stocks increased 7.5 million barrels. Ryan Seton, of the Texas Nuclear Market Regulatory Authority, tweets about producer talks about stopping production, given demand poverty.
And there seems to be no peace on the way, as Trump claims. Saudi Arabia confirms raising production above 12 million barrels per month, but the inventory in Fujairah is at its maximum, according to Argus Media, and this complicates the plan.
While the Russian news website, RBC, said that the Russian export prices do not cover expenses: production, transportation, and taxes, which means losses for every barrel sold now.

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Technical Economic Consulting Company was established in 2012, it was established by a team of investment professionals to become one of the leading investment companies to provide the best management consulting services to local international companies and institutions. Since its inception, the company has continuously expanded to become one of the largest leading consulting firms in the region through its branches located in the Arab world as well as representative offices in Europe.

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