RE:RE:Lack of PostsThe most respected global supply and demand forecasts are from the IEA.
Q3 2016 demand forecast - 96.99 M b/d
Q4 2016 demand forecast - 97.03 M b/d
Q3 and Q4 supply forecast. Well, supply has been falling since Q4 2015 now, Q2 2016 was 95.93M b/d, Q3 and Q4 2016 are expected to be lower.
These are the facts, yet the sector rhetoric is all about supply and demand balancing out by Spring/Summer 2017. OooooKkkkkkkk.... do the commentators actually read the data, such is the momentum surrounding the mod 2017 thesis that anybody questioning the idea is seen as an irrational bull.
Add to this the fact that the most undervalued oiler out there is 6 to 8 weeks away from more than doubling its production.
Both of the above, first oil and reality re oil supply demand could hit more or less together. We could easily near treble the value of our holdings within 2 months now.
Nothing more to add really, the speculation associated with an Ithaca investment has largely gone now, first oil is close and oil sector detatchment from supply demand reality is unlikley to last for long.
There is nothing more to add really, we just need to wait it out. Anybody hoping to trade into this stock, forget it. The longer we stay in the trading range the more sudden and steep the break out will be. We just need to sit it out.
Doug