RE:RE:...and the board goes quiet lmaoHighOctane89 wrote: Well Gambino , it looks like I got under one aliases skin , lmao . Do you notice how angry the smalltime crowd gets when the price doesn't drop and they're stuck on the outside looking in .
The oil market is coming to terms with the fact there is no "spare capacity" , Iran and Venezuala are non-starters and Joe has painted the US into a corner by alienating domestic producers . Once TMX opens up the US will have one more headache , that being international customers for CDN oil . The US will lose control of WCS prices and WCS is the grade all US refineries require .
If the future wasn't so bright then smalltime and friends wouldn't be trying so hard to talk the price down , lmao . Like anyone actually listens to the desperation aliance !!!!
So lets go through this post insight by insight....
'when the price doesn't drop and they're stuck on the outside.....' Down over $2.00 since Q2 earnings, down over $1.00 since Q3 earnings, down from last Friday.
'oil market is coming to terms with the fact there is no 'spare capacity'...'
OPEC+ is cutting which has them on the road to spare capacity. The oil futures curve has taken almost all the backwardation out which is how it expresses spare capacity.
'once TMX opens up the US will have one more headache'
HO89 just filled us all in that the US is an oil importer. More barrels on the water is bad for an importer? WCS diff will tighten but HO89 has informed us Joe doesn't want NA barrels.
'The US will lose control of WCS prices'
The forward curve for WCS is $-21.75 out to the middle of 2024. If anyone was worried they could hedge the diff.
THIS GUY KNOWS NOTHING!