Baytex Energy Corp T.BTE

Price of WTI this week

[Lina_Casa]

I'm actually kind of hoping the price of WTI remains low this coming week.  If oil stays in the low 70's I  believe OPEC will agree not only to continue production cuts into 2024, but might increase those cuts even further.

[Retiredgeo]

They do like their $80 oil.

[Cobalt]

Good luck with that as they are handing market share over to the Americans, how soon we forget the price war they had to crush the Americans.

[riski]

American production is definitely a headwind and a good bear argument. How high can it go? Some experts last year were saying that all the tier one acreage had been drilled and the ability of Americans to increase production is fundamentally changed. In addition, companies are focusing on shareholder returns rather than production increases.  Yet the Americans have added almost a million

[Cobalt]

Yes how high can it go? "that shale producers can double crude output from their existing wells" ExxonMobil: New Fracking Technology Can Double Oil Output | OilPrice.com

[robert41]

How much oil and for how long can the US shale companies produce this extra oil is a big question. even more reason for opec to keep production low and prices up so the US pumps theirs and the saudis keep theirs. in due time the Saudi's even have more control over the price of oil as the Permian and others decline. This seems to play into the saudis hands perfectly. Just a thought.