Is a 2006 minor hit for rockers Three Days Grace, taken from the album one -x.
When you talk about oil and gas stocks on Bursa Malaysia, the current X stock is Hibiscus Petroleum.
Looks like it's, going to be a month filled with PAIN for those who still believe in the Hibiscus dream.
Oilprice.com has the story. Read below :
Another week brings yet more signs that the highly-anticipated oil market “balance” will not occur in the immediate future. Heading into 2017, there was a broad consensus that global oil production would fall below demand in the first half of the year, a deficit that would help bring down inventories and lead to relative balance between supply and demand. Mid-2017 seemed to be the timeframe that everyone was looking at for this development to occur.
But there are growing signs that the oil market won’t reach balance by then, and perhaps not this year at all. “We don’t really see a real balancing of the market coming until much much later,” Richard Gorry of JBC Energy Asia told CNBC in an interview. “Right now the oil market is oversupplied by about 500,000 barrels per day in the first quarter. So to see inventories continue to go up is absolutely of no surprise to us.”
The EIA reported yet another massive build in crude oil inventories last week. Crude stocks surged by 9.5 million barrels for the week ending in February 10, taking total stocks up to 518 million barrels. That is a new record high, blowing past the record set last year at 512 million barrels. Oil inventories are higher than at any point since data collection began, dating back to the early 1980s.
