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Bullboard - Stock Discussion Forum KFG Resources Ltd. V.KFG

KFG Resources Ltd is a North American based company. It is primarily engaged in the production of crude oil and natural gas in the United States. It has developed onshore oil and gas reserves with activities concentrated in Concordia, Catahoula Parishes, Louisiana, Wilkinson Counties, Mississippi, Comanche County and, Kansas. Also, the company is focused on participating in the drilling of... see more

TSXV:KFG - Post Discussion

KFG Resources Ltd. > HIGHER OIL PRICE'S ARE COMING...
View:
Post by freedom-1970 on Nov 05, 2017 10:33am

HIGHER OIL PRICE'S ARE COMING...

(Adds Russian ministry statement)

TASHKENT/MOSCOW, Nov 4 (Reuters) - Russia, Saudi Arabia, Uzbekistan and Kazakhstan are ready to do more work to reduce global oil inventories, the Russian energy ministry said in a statement on Saturday after a meeting of officials from the four countries.

Russia and Saudi Arabia are leading a deal between OPEC and non-OPEC producers to cut global oil production, with the aim of propping up oil prices.

 

"The states-participant signified satisfaction of reducing commercial stocks of oil and stated their readiness to continue (to make) join efforts towards such a direction", the statement said.

OPEC, Russia and other oil producers are due to meet at the end of November in Vienna to decide whether to extend the current supply-cut pact.

According to the Russian Energy Ministry, the formerly Soviet state Tajikistan will take part at the meeting as an observer. Saudi Arabian oil minister Khalid al-Falih said after the meeting that more work was needed to cut inventories.

"There is a general satisfaction with the strategy of 24 countries that signed a declaration of cooperation".

"Everybody recognises that (the) job is not done yet by any means, we still have significant amount of work to do to bring inventories down. Mission is not yet complete, more needs to be done," he added.

He said members of the global pact he had spoken with have expressed the same views.

"This is the same sentiment I've heard yesterday from (Kazakh) President (Nursultan) Nazarbayev, this is the same sentiment I've heard from all the oil-producing members of the Asia energy ministers' round table", he said.

Officials from Malaysia, Ecuador, Nigeria and Libya have also given him similar feedback, Falih said.

"All committed to working with other producers and supporting the agreement", the Saudi oil minister added. (Reporting by Mukhammadsharif Mamatkulov in TASHKENT and Vladimir Soldatkin in MOSCOW,; Writing by Denis Pinchuk; Editing by Alexander Smith and Hugh Lawson)

Comment by freedom-1970 on Nov 05, 2017 10:43am
600,000 Bpd At Risk As Venezuela Delays The Inevitable
Comment by freedom-1970 on Nov 05, 2017 6:33pm
WTI Crude 55.89 +0.25 +0.45%(10 minutes delay) Brent Crude 62.40 +0.33 +0.53%(10 minutes delay)
Comment by freedom-1970 on Nov 05, 2017 8:21pm
WTI hit 56 dollars... 
Comment by freedom-1970 on Nov 06, 2017 7:34pm
The U.S. Over-Supply of Oil Is Ending Increased exports of crude oil have reduced U.S. inventories more quickly than I expected a month ago when I wrote Higher Oil Prices Likely in Early 2018. Higher consumption levels were well established at that time but evidence for a trend of elevated export levels consisted of two anomalous data points. Because of the way that trades are arranged ...more  
Comment by freedom-1970 on Nov 09, 2017 8:46pm
Saudis To Cut Oil Exports By 120,000 BPD In December
Comment by freedom-1970 on Nov 09, 2017 9:18pm
Venezuela Just 24 Hours Away From Formal Declaration Of Default By ZeroHedge - Nov 09, 2017, 1:00 PM CST  
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