RE:RE:RE:RE:RE:To The Poster...OPEC meeting is Novemeber 30th...that will set course on whether to buy or sit on sidelines.
I expect trading volumes of most Canadian energy companies to be quite subdued until results of that meeting.
Current situation is 3.66m barrels in cuts plus an extra 1m from Saudi and 300-500k from russia.
Making for a total of near 5m barrels.
I hope these fools (ie OPEC) do a production cut, be one of the dumbest things in along time but all the power to them.
This is the million dollar question...is oil demand so great that every 6 months more production needs to be cut?
I just think it is hard for OPEC to make a smart decision when everyone in that group is so biased.
OPEC likely already speed up hyrbid/ev adoption in many markets and this is healthy for them.
Guys like Eric Nuttall cant grasp this. OPEC is making 2024 and beynd worse the more they meddle.