Is oil shortage over
Posted: Fri Nov 26, 2021 11:49 am
In the span of one day wti is down 10 or more. I guess we don't need oil
FEAR + lack of buyers on a holiday is causing this.
OPEC+ meeting next week should be interesting.
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Re: Is oil shortage over
Posted: Fri Nov 26, 2021 12:03 pm
Re: Is oil shortage over
Posted: Fri Nov 26, 2021 12:13 pm
Well, I did my part, buying my first crude mini contract of jan crude at $ 68.
I see cold weather coming to Europe
They will need LNG, oil, Coal, wind and everything else.
They already have an abundance of hot air from their politicians
I see cold weather coming to Europe
They will need LNG, oil, Coal, wind and everything else.
They already have an abundance of hot air from their politicians
Re: Is oil shortage over
Posted: Fri Nov 26, 2021 12:17 pm
To add to the confusion, GAAP accounting rules will cause upstream companies with a lot of oil hedged to report HUGE gains on their hedges if oil stays under $70. This is why upstream companies hedge.
Re: Is oil shortage over
Posted: Fri Nov 26, 2021 12:19 pm
I hope these durn companies hedged at $ 80.. 
If i were Opec+ , I'd slow roll the supply increases, maybe cut it half to 200 k
If they do something oil can rally back half of today's loss
Just saw a burb Eu suspends flights to South Africa,
When Trump suggested doing this in Covid beginning he was slammed .Now these countries react 1/2 day later.They just can't give it up.
If i were Opec+ , I'd slow roll the supply increases, maybe cut it half to 200 k
If they do something oil can rally back half of today's loss
Just saw a burb Eu suspends flights to South Africa,
When Trump suggested doing this in Covid beginning he was slammed .Now these countries react 1/2 day later.They just can't give it up.