webfact Posted September 16, 2019 Share Posted September 16, 2019 Thailand braces for impact of soaring oil prices following drone attacks on Saudi oil facilities, Energy Ministry says By The Nation Source: https://www.nationthailand.com/business/30376287 -- © Copyright The Nation Thailand 2019-09-17 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
pizzachang Posted September 17, 2019 Share Posted September 17, 2019 I saw on several news channels that Saudi A. had already restored production. If that is the case, will we see "soaring oil prices" anyway? Link to comment Share on other sites More sharing options...
JoePai Posted September 17, 2019 Share Posted September 17, 2019 Hmm, what does the Energy Ministry know Quote : BANGKOK (Reuters) - Thailand expects little impact from surging oil prices on its inflation rate and exports following attacks on Saudi oil facilities, a commerce ministry official said on Monday. Link to comment Share on other sites More sharing options...
topt Posted September 17, 2019 Share Posted September 17, 2019 40 minutes ago, pizzachang said: I saw on several news channels that Saudi A. had already restored production. If that is the case, will we see "soaring oil prices" anyway? Already happened. From a UK financial broker email update late last night - Quote In parallel, front month Brent crude oil futures on ICE came off their 200-week moving average, jumping by 10.88% to $67.56 a barrel after surging by nearly 20% at the start of trading. From https://www.bbc.com/news/world-middle-east-49721301 Quote The knock-on effect was a 5% cut in global oil supplies and soaring prices. Experts say it could take weeks before the facilities are fully functioning again. Link to comment Share on other sites More sharing options...
hotchilli Posted September 17, 2019 Share Posted September 17, 2019 49 minutes ago, pizzachang said: I saw on several news channels that Saudi A. had already restored production. If that is the case, will we see "soaring oil prices" anyway? I'm sure you will witness profiteering... Link to comment Share on other sites More sharing options...
HHTel Posted September 17, 2019 Share Posted September 17, 2019 1 hour ago, pizzachang said: I saw on several news channels that Saudi A. had already restored production. If that is the case, will we see "soaring oil prices" anyway? The Saudi's were hoping to restore one third of lost production but it will take weeks/months to restore full production. So price hikes are on the cards. Link to comment Share on other sites More sharing options...
HOAX Posted September 17, 2019 Share Posted September 17, 2019 I have no idea anymore what affects the THB or NOK, nothing's like it used to be, but whatever it is, if it makes the Baht drop and the NOK jump, I will be happy. Link to comment Share on other sites More sharing options...
Isaan sailor Posted September 17, 2019 Share Posted September 17, 2019 Perhaps the Energy Ministry foresaw the terrorist attack on Saudi oil production. It could explain the ongoing Baht appreciation... Just kidding, to you Baht apologists. But go ahead and attack, if you wish... Link to comment Share on other sites More sharing options...
overherebc Posted September 17, 2019 Share Posted September 17, 2019 3 minutes ago, HOAX said: I have no idea anymore what affects the THB or NOK, nothing's like it used to be, but whatever it is, if it makes the Baht drop and the NOK jump, I will be happy. Nah. Baht will get stronger. Always does. Link to comment Share on other sites More sharing options...
HOAX Posted September 17, 2019 Share Posted September 17, 2019 5 minutes ago, overherebc said: Nah. Baht will get stronger. Always does. I'm pretty sure you're correct.. for now. But it has to turn around at some point. Things in Norway has been going very good for a while already now (despite the EU, UK and US/China situations) with the only exception being the weak Norwegian Kroner, while Thailand has a far more vulnerable and unstable economy and gov't. So as I see it its just a matter of time. Lets just hope it doesn't drag on too long. Link to comment Share on other sites More sharing options...
essox essox Posted September 17, 2019 Share Posted September 17, 2019 2 hours ago, pizzachang said: I saw on several news channels that Saudi A. had already restored production. If that is the case, will we see "soaring oil prices" anyway? depends..on definition of SOARING.... does it mean, here, that petrol could go up by 1 baht??? Link to comment Share on other sites More sharing options...
Angry Dragon Posted September 17, 2019 Share Posted September 17, 2019 1 hour ago, HHTel said: The Saudi's were hoping to restore one third of lost production but it will take weeks/months to restore full production. So price hikes are on the cards. But after yesterday's jump, spot oil prices are down today 1.5% Link to comment Share on other sites More sharing options...
Angry Dragon Posted September 17, 2019 Share Posted September 17, 2019 1 hour ago, HOAX said: I'm pretty sure you're correct.. for now. But it has to turn around at some point. Things in Norway has been going very good for a while already now (despite the EU, UK and US/China situations) with the only exception being the weak Norwegian Kroner, while Thailand has a far more vulnerable and unstable economy and gov't. So as I see it its just a matter of time. Lets just hope it doesn't drag on too long. I get paid in THB so I'm all for a strong Baht. Why would you expect it to weaken? Big Mac index suggests otherwise. Thailand has a large current account surplus (unlike the US, UK). Its budget deficit is mild. The economy is growing faster than most western ones. Link to comment Share on other sites More sharing options...
Cadbury Posted September 17, 2019 Share Posted September 17, 2019 There have been three government announcements re oil prices. 1. There will be no impact on Thailand with the cut in Saudi oil production. (yesterday) 2. There will be minimal impact on Thailand with the oil crisis in Saudi Arabia. (earlier today) 3. Thailand braces for impact of soaring oil prices. (just now) Really, this government is so hopelessly uncoordinated it can't even get their stories lined up. And that comes back to poor leadership. Link to comment Share on other sites More sharing options...
quandow Posted September 17, 2019 Share Posted September 17, 2019 And I read something from ThaiVisa over the last day or two of how the attacks would in no way affect oil prices. 5555! Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted September 17, 2019 Share Posted September 17, 2019 46 minutes ago, Cadbury said: There have been three government announcements re oil prices. 1. There will be no impact on Thailand with the cut in Saudi oil production. (yesterday) 2. There will be minimal impact on Thailand with the oil crisis in Saudi Arabia. (earlier today) 3. Thailand braces for impact of soaring oil prices. (just now) Really, this government is so hopelessly uncoordinated it can't even get their stories lined up. And that comes back to poor leadership. It is part of the Thailand Happiness program. You pick the version you like, read it and ignore the others. Link to comment Share on other sites More sharing options...
wisperone Posted September 17, 2019 Share Posted September 17, 2019 Just call up your buddies in China. They have been stockpiling oil from Iran. I'm sure they will give you some for a bit more blood. Link to comment Share on other sites More sharing options...
wisperone Posted September 17, 2019 Share Posted September 17, 2019 1 hour ago, Cadbury said: There have been three government announcements re oil prices. 1. There will be no impact on Thailand with the cut in Saudi oil production. (yesterday) 2. There will be minimal impact on Thailand with the oil crisis in Saudi Arabia. (earlier today) 3. Thailand braces for impact of soaring oil prices. (just now) Really, this government is so hopelessly uncoordinated it can't even get their stories lined up. And that comes back to poor leadership. It's called hedging their bets. No matter what happens, they will be right one way or the other. Link to comment Share on other sites More sharing options...
Tayaout Posted September 17, 2019 Share Posted September 17, 2019 7 minutes ago, wisperone said: It's called hedging their bets. No matter what happens, they will be right one way or the other. This. Link to comment Share on other sites More sharing options...
justin case Posted September 17, 2019 Share Posted September 17, 2019 is this why my regular flight is up 1500 baht lol Link to comment Share on other sites More sharing options...
Expat Brad Posted September 17, 2019 Share Posted September 17, 2019 Another money making scam. 5% of global oil supplies are from Saudi Arabia yet, barrel price has risen 20%. Plus nearly 2 months of reserves which means NO drop in supply!!! Sounds like an inside job to me ???? Link to comment Share on other sites More sharing options...
Benmart Posted September 17, 2019 Share Posted September 17, 2019 8 hours ago, pizzachang said: I saw on several news channels that Saudi A. had already restored production. If that is the case, will we see "soaring oil prices" anyway? If I continue breathing, I may be able to answer that question through personal experience. Then I will post it for all to see. Link to comment Share on other sites More sharing options...
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