RE:nothing to really talk about right noworlandofl wrote: eia coming out should be better than api
opec meeting - if just an extension, I don't know how much that will impact oil price
deeper cut may get us to $55 - I don't know that the extension does anything other than keep oil between $50 and $55
pwt can hang in there and if oil goes up it could move up nicely and grow production, but I don't know if we'll see enough action to get oil prices higher - a bit discouraged on how the Canadian oil stocks have traded.
PWT relatively flat, cpg, vet and some others have performed poorly as of late.
it would be nice to see some buying, but the market looks very out of favor - would love to see it change, but after a few years of this maybe we are in a 5+ year recovery mode
we are looking at 3 months of consecutive draws week after week, OPEC extending cuts for 9 months, maybe a deeper OPEC cut - likely deeper cuts, whether announced or not and I am discouraged - more bullish time for oil and I don't think anything can move up our candian oil stocks near term and any dip in oil and they go down hard.
Negative enough for you - I won't sell though and I may buy more. I have been bidding for more pwt and have added a little.