Is a 1993 hit for Freddie Mercury, a rehashed version of the platters 1955 hit single.
Penny oil stocks on Bursa Malaysia, should rally today, with the smart money being on oil PRODUCERS such as Hibiscus, Sumatec and Reach Energy Warrants, although those in the wider Spectre of the industry, such as Bumi Armada and Perisai might also see some action.
All these are because, oil prices are up on supposedly production cuts by OPEC members such as Saudi Arabia.
Oilprice.com has the story , where it hints, that the so called production cuts have something of the great pretender element in it. Read Below :
A newly released survey by Reuters indicates that OPEC oil output in December fell from its record high - for the first time since May - falling to 34.18 million barrels per day, down from 34.38 million in November. This is supported by a tweet from a Wall Street Journal reporter that the Saudis have already cut output to honor the OPEC pledge.
WSJ reporter Georgi Kantchev tweeted on Thursday that Saudi Arabia has already cut oil output by at least 486,000 barrels per day to 10.058 million barrels per day. Kantchev cited an unnamed and undescribed source in his tweet.
The Reuters survey, based on shipping data and industry sources, noted that OPEC—as of December—was pumping 1.68 million barrels per day above the 32.5 million production ceiling agreed to at the 30 November meeting, effective 1 January 2017.
The biggest output drop came from Nigeria, where the government is facing down Niger Delta militants targeting oil installations.
Saudi Arabia also pumped less, according to the survey, after seeing record output in November. The reason for lower Saudi oil exports in December was lower demand, rather than an effort to make cuts.
