Vermilion Energy Inc T.VET

OPEC

[halitosis8]

if there is any sanity left in the market at all, this news of an OPEC deal should undo all of the deterioration in share price we've experienced in the last three weeks.  that's a big if.

OPEC and allies target full end to oil production cuts by September 2022, increase supply limits as prices climb

PUBLISHED SUN, JUL 18 20218:01 AM EDTUPDATED 33 MIN AGO

[Tommy123]

This post has been removed in accordance with Community Policy

[halitosis8]

re: "This will really hurt oil stocks tomorrow, since production is increasing" We'll see, Tommy.  The price went up when we believed OPEC was increasing supply by 400,000 barrels per month Aug to Dec.  The new deal confirms that same increase, but does increase production from May 2022. So the question is what will weigh the most?  OPEC stability or the increased

[Tommy123]

This post has been removed in accordance with Community Policy

[halitosis8]

yes--OPEC isn't even meeting increased demand between Aug and Dec.  that means the world will continue to draw down the obscene stockpiling that occurred last year. just looking at NA:  "The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 4.079 million barrels for the week ending July 9, bringing the total 2021 crude draw so far to 50

[mnztr]

Most of the surplus is gone, the only significant surplus stockpile is Iran with about 70m bbl in floating storage. Other then that most counrtries are below their average stockpile.

[mnztr]

The target increase is 400K but will be reviewed monthly.

[PipelessPauper]

Why do you care? The cognitive dissonance selling your cheap oil stocks to join the green energy party (for now), while watching WTI rally into the 70’s is killing you huh? Lol you WANT it to crash so you can feel right...  I hope you don’t have much $$ in those green energy scams... or there’s a lot of sleepless nights ahead for you... me i I sleep like a baby with 100k shares of this