Wednesday 15 February 2017

Sheikh Versus Shale. Hibiscus Petroleum. Dive

Is the current chart topping hit by DJ Salvatore Ganacci, feautring Enya, on the Romanian chart.

Hibiscus shares, it seems could soon take a DIVE, as the market anticipates that it's results end of this month might not be so good after all.

The stock was last traded at 51.5 Sen, and has more bad news in store, as shale oil, gives the Sheikh's a kick on the ass.

Oil price.com has the story. Read below :

For the third week in a row the Energy Information Administration (EIA) has reported an increase in commercial crude oil inventories of 9.5 million barrels, to a total of 518.1 million barrels – exceeding the seasonal limit.

The report came a day after the API estimated commercial inventories had jumped by 9.94 million barrels.

The news is bound to cause worry among OPEC members who are being made painfully aware by U.S. shale boomers that the production cut agreement agreed to in November was a windfall for them – a windfall that they will make the best of while it lasts.

Though prices started the week on the rise, boosted by the latest positive update from OPEC, including the IEA praising the cartel for its 90-percent compliance rate, the API figures partially offset the rise and now the EIA figures might offset the rest