Baytex Energy Corp T.BTE

Helema Croft on CNBC -- Sept 27

[jack4567]

Ms. Croft sees $100 Brent this year, and suggests that the only way the Biden admin could bring oil prices down this year would be to persuade the Saudis to ease up on their cutbacks as part of a deal that has benefits for the Saudis.

https://www.youtube.com/watch?v=W9nSPlP3Wfk&ab_channel=CNBCTelevision

[Realdude]

Actually according to Eric nuttal in his last interview on Bnn said the Biden admin could release more barrels from the SPR. I've actually mentioned that on previous posts but people made fun of me and my prediction. 

[Swackaboozy]

Actually last week the Biden mafia did drain the SPR

[Poorbcboy]

Saudis won't ease up on their cutbacks, with oil at $90+/bbl and now joining brics in January, probably be seeing more oil cuts in the near future, only way Biden can help is to drill baby drill

[Retiredgeo]

Drilling opportunities in America are limited.  Shale oil is now in decline as the best basins are depleted.  Raiding the SPR further is not a good option.  The US has no choice but to import more oil in a very competitive market.  There's the next wave of inflation! Not approving the Keystone XL was a mistake.  It was replaced by the Trans Mountain pipeline. 

[Kelvin]

Good morning retiredgeo. Much more supply coud come from Venezuela which has the largest oil reserves on the planet with the 5th largest natural gas reserves. Pre-Chavez, in 1998, Venezuela was exporting 3.6 million bbl/day on top of 800,000 bbl/day of production to meet domestic needs. But now the oil infrastructure has deteriorated so badly that they struggle to export a few hundred thousand

[Retiredgeo]

Until there is the political will to overthrow the Venezuelan dictatorship all of the oil is going to remain offline and all of those Venezuelan migrants are going to continue to flow into the US.  None of this a 2023 solution.

[Kelvin]

Well when radical left Petro, president of Colombia, denounces publicly that he abhors the attempts to sideline Machado, then you know that she has a broad spectrum of support from both right and left.  Latin America has absorbed over 7 million Venexuelan refugees, Colombia the most. They're full. Now the Venezuelan refugees are headed further north, risking crossing the extremely

[TheWokeLemming]

Socialists always run out of other people's money.   Venezeula is a good example for gullible Canadian youth to learn about regarding the pitfalls of socialism, which works far better in theory than in practice.  

[Kelvin]

TheWokeLemming, The following is an example of what happens when socialists, who covet state control of everything, run things. Petro, the president of Colombia is anti-oil. The result is that Colombian oil exports have fallen 30%. Meanwhile, guess what product is soon to become Colombia's largest export? https://oilprice.com/Energy/Crude-Oil/Oil-Dethroned-Cocaine-Close-To-Becoming

[Kelvin]

I should have added in my lsst post that socialists destroy the private sector which is the engine of economic prosperity. So desperate people turn to non-traditional means to make money. Mafias are formed and eventually take over with incessant turf wars everywhere.

[Realdude]

Just for the record helima, Amrita, and Eric have been wrong for 2 years. But I hope oil stays elevated as I stated in other posts.

[Tradestay]

I agree with you their call did not pawn out, but had the spe release not occur which could not have been predicted at the level it happend they would have been on the money.