RE:RE:RE:RE:RE:7 bucks soon !!! Back up the truck!! 💥 💥 Just a few points to add Alpha
1. Shale production is levelling off but we are at a price where some production will come online, and OPEC plus has capacity to offset....focus on the demand side as supply is so heavily manipulated. Demand is forecasted for a 1% increase annually over the next couple of years, so tempered growth.
2. Rig counts are tricky, when oil rigs increase production will increase but the reverse doesn't hold true. The combo of faster and better horizontal drilling and fracking has helped output increase even as rig counts fall.
I do like BTE and feel that they can handle the maturing debt, I'm just cautiously bullish. OPEC and Geopolitics have such a large influence as of late.
good luck