RE:RE:RE:Rig counts I agree Lifeis Good,, I think if oil prices stabilize over $80 Suncor stock price will continue to do well. It should already be $50+ imo. A few here (mostly the few who have no vested interest in Su) are very negative on SU. I;do believe some hedge funds and shorters have targeted SU more than some of the other large cap Canadian Oil and NG companies and we are just starting to recover from the harm they inflicted.. Also the activist investors who tried to force SU into selling off the doenstream operations created enough negativity that provided the hedge funds and shorters an opportunity to move in. The shorting activity has fortunately declined. Kruger is moving in the right direction and I can see SU moving towards the +#50 range.
The Chinese will continue to do whatever they can to lower their product prices; coal , oil, LNG and most raw materials They fabricate whatever numbers they need to drive down product prices (usually their fabricated numbers come out after midnight Sunday to affect Mondays market open). I think Biden has no problem working with Chinese to drive down price of oil. For sure the EIA will continue to play with their weekly oil estimates to drive down the price. First it was their huge weekly adjustments, and the last two weeks they have magically found 500,000 bod of new production. They can't take much more oil out of the strategic reserve so imo the weekly draws will continue regardless of their playing with the weekly numbers..
it has been a very good week for SU shareholders. Hopefully there will be quite a few more in the future.