RE:RE:7 plus meg quintessence wrote: 285k bbls/day possibly off market come Monday on that strike.
you can;t take these headlines for anything more than that.
don't forget Nigeria is coming back up, canada is coming back up, and now with breixt we might also get less growth in europe and possible the world economy.
sell on good news and buy on bad news seems to be the mantra these days.
again for long term investors that can tolerate the ups and downs just be careful with MEG because of their high debt levels.
If oil prices tank in mid august or sooner MEG will hurt more than others like SU or IMO.
CVE is sitting on 4 billion in cash and they are also a sagd producers but they also have upstream assets in 2 refineries in the uSA.
as I have learned this this oil price collapse DEBT is a 4 letter word and can cause lots of pain and significant losses.
so when posters tells us MEG is going to increase produciton by 40-50,000 bpd in the near future they are lying unless MEG finds a partner with lots of cash to invest.
in the current low price environment MEG will never be able to increase productions with higher oil prices and significant proceeds from asset sales.
invest wisely and GLTA