Post by
Wildfury on Mar 16, 2022 7:09pm
Oil Bull or Bear
EIA: Oil Prices Will Remain Above $100 For Months. The media can't make up their minds, one minute they're reporting oil climbing to over $100pb, EIA reports a build of 4 million plus barrels surprise but don't highlight a gasoline draw of almost 4 million barrels. Where's the extra oil going to come from? They leave out the facts that there's a huge demand, supply issue along with the fact that SPR'S have been drawing at an alarming rate. They can only lie about what's really going on for so long, this summer will tell the true story. Once again the media is over hyping inflation and blaming the oil patch for everything that's wrong in the world today. It's alright if Amazon, Apple, Google, the Banks report record profits without a windfall tax to be imposed on them, just oil companies in general are not allowed to make money, bunch of hypocrites. Now the EIA is making statements that oil to remain $100 plus for months to come. Regardless of the media, Baytex will be reporting record profits at least for the next 2 quarters, the debt should be under $1 Billion with share buy-backs and dividends to follow. I'm not buying their lies because the best is yet to come. Baytex's 5 year plan has just become a 3 year plan and they forecast their numbers based on what, $65-$75 oil? With current prices it's all gravy, and who doesn't like gravy?
Comment by
Wildfury on Mar 16, 2022 8:03pm
That's true, it's only worth with what they will pay on any given day so here's the delema. Once Baytex eliminates their debt and the market still dictates a massively undervalued stock then it will be up to management to either buy back as many shares as they can and pay a very large dividend, period.
Comment by
masfortuna on Mar 17, 2022 4:43am
Exactly. Look at Philip Morris...