Baytex Energy Corp T.BTE

Heading To Recession?

[Tommy007]

Presently US is facing two critical problems - Inflation and Russian War. Fed will continue to raise interest rate until inflation backs to normal level even having recession (hard landing). Canada may start recession 1Q 2023. This will certainly bring down the oil consumption.

The western world will not let Russia to win the war and Russia could have regime change if Putin loses the war. Biden government will crack down the Russia's major source of financial support - oil and gas trade revenue. He should know he cannot forbid Russian oil export. The best way is to let the price of oil down and the price is driven by supply and demand. He could possibly let US heading to recession which will have ripple effect to the other part of the world.  Then both the oil price and inflation will be down significantly.

 

[BayStreetWolfTO]

Good thing OPEC + is cutting supply. The positive about frequent meetings is they can continue to balance the market. Just like Apple is planning their 2023 budgets based on $1000+ Iphones.....OPEC is planning their budgets based on oil being in a higher spot. Margin, margin, margin