GREY:LSTMF - Post by User
Comment by
JohnDDon May 29, 2015 2:51pm
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Post# 23778895
RE:RE:I think SA is going long oil
RE:RE:I think SA is going long oil
Agreed, I don't expect much change in the OPEC policy at next week's meeting. Continue to focus on market share - no cuts in production. In my opinion they will NOT provide any optimism that shale producers and their lenders can use to support financing more drilling.
We need to be wait it out for the supply demand fundamentals to flip before we see any meaningful increase in oil prices. As long as prices hold around $60/bbl for the next few months and beyond - LTS will generate cash flow well above costs - and will not be in forced into selling assets at distressed prices.
As John W stated - we have to accept some: "painful patience"