Renaissance Oil Corp. RNSFF

News and it not good

[farml1234]

word on internet King of SA died Second SA and Russia in oil war the way it look Saudi Arabia targetting Ural crude specifically. In the most significant move, Aramco widened the discount for its flagship Arab Light crude to refiners in north-west Europe by a hefty $8 a barrel, offering it at $10.25 a barrel under the Brent benchmark. In contrast, Urals, the Russian flagship crude blend, trades at a discount of about $2a barrel under Brent. Traders said the Saudi move was a direct attack at the ability of Russian companies to sell crude in Europe. Thisis going to get nasty, said Doug King, a hedge fund investor who co-founded the Merchant Commodity Fund. OPEC+ is going to pump more, and the world is facing a demand shock. $30 oil is possible. Oil traders are looking to historical charts for an indication of how low prices could go. One potential target is $27.10 a barrel, reached in 2016 during the last price war. But some believe the market could go even lower. Werelikely to see the lowest oil prices of the last 20 years in the next quarter, said Roger Diwan, an oil analyst at consultant IHS Markit Ltd.and a veteran OPEC watcher, implying that the price could fall below $20 a barrel. https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war?sref=5F8Ao01j. ---- We are going to see unprecedented carnage in the oil sector, most shale companies will be road kill as these two giants fight it out.