RE:And everyone here wants to buy Baytex.
And that is a bullish bias with some valid arguments on the upside.
From my perspective, I would not be surprised to seeing Russians buying into the oil market then announcing some pretty severe cuts. That would "surprise" the market some more, the Russian would make billions on the trade.
How's this for "wishful thinking"? The API should also "earn its name" in the US and help "manage" the production in the US. At least advise producers not to increase pumping but introduce their own caps. I can't see that happening but you never know....
Personally, I'm a "hold and see" at this point with positive expections for the next 6 months.