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PENN WEST PETROLEUM LTD. T.PWT

Energy Oil & Gas E&P
"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."


TSX:PWT - Post by User

PENN WEST PETROLEUM LTD. > Oil's Wild Intraday Swing Explained
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Post by makedonkaon May 05, 2017 9:09pm
108 Views
Post# 26211461

Oil's Wild Intraday Swing Explained

Oil's Wild Intraday Swing Explained

"The wild intraday swing in oil prices is attributable to hedge fund liquidation.

Pierre Andurand sold all of his long exposure last week before the fall in oil prices but remains bullish on oil.

We believe there were more commodity funds impacted by the sell-off, and hedge fund liquidation explains the weakness in oil prices this week."

https://seekingalpha.com/article/4069918-oils-wild-intraday-swing-explained-hedge-fund-liquidation?app=1&isDirectRoadblock=false

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