RE:AnybodyI don't think so. Broadly, this is the time of year we should have builds. A draw would be quite bullish. But also the oil market seems to know what the weekly data is going to show days before it comes out. WTI trading strongly down to start the week usually indicates a build, probably because the commodity traders have access to sophisiticated oil movement data that allow them to get a ballpark on what to expect from the EIA inventory numbers.
We should see a build this week, though that's not necessarily bearish in itself for this time of year. With China's economy still struggling, it looks like we will have lower oil prices for a while before they can get themselves rolling.
$70 WTI is an excellent price for Baytex especially considering the CAD/USD is 0.73.
$78 is even better.
Hang in there everyone. We are in the mega cash flow stage of this company that will drive the share price over the next 12 months.
masfortuna wrote: Want to bet that there will be a bi draw this week? I think it will be a big one for the record...