Baytex Energy Corp T.BTE

SPR + API DRAW

[Wildfury]

What's happening with WTI right now overseas, down over $3.00? SPR draw, API draw, we should be going higher, maybe in the morning, we'll see. BSW, any thoughts on the swings?

[BayStreetWolfTO]

Wild, just my thoughts. 1. It is actually not in OPEC +'s best interest to have "shortages' 2. As a long-term O&G holder I much prefer to offset a climb to $150-$200 as long as we can. 3. If this means SPR or Saudis helping I'm good with that 4. Shortages I think we would agree is different than a tight market 4. I would actually like to see OPEC increase to near elimination

[Wildfury]

This could also be a result of OPEC meeting tomorrow if I'm not mistaken, thanks for your reply Wolf.

[BayStreetWolfTO]

Wild, you're 100% Tomorrow; JMMC meets at 14:00 Vienna time Opec + meeting at 14:30 I would bet...Russia has been in communications with all the partners "pre" meeting to discuss the "Russia" position  The OPEC group knows darn well they are very powerful with Russia on their side so I imagine no boat rocking. The ONLY OPEC nations that could even come close at

[TheWokeLemming]

Excellent post BSW.   Biden wants to talk oil down to play to his base, without actually increasing infrastructure and deregulating the industry to substantially increase production.   It's all a lot of smoke and mirrors.   

[BayStreetWolfTO]

Woke, the other point is SA has said if the market is out of balance they will adjust. They have said this since last year.  Up to this point they have not seen an imbalance (but again you can argue for $110 oil the market is balanced)....the word balanced really doesn't mean anything....balanced to what? So they HAVE to say with any Russia impact they will "balance" the