RE:RE:RE:RE:RE:RE:AltaCorp sellerIn 2015/2016, OECD countries had an over 500M barrel inventory surplus vs. the 5yr avg. Now, 57M over the trailing 5 yr avg for OECD countries. The last week collapse in crude was a capital markets phenomena. We need the US $ Index to roll over and reflect the weakening US eco indicators and price out the FED raising further in 2019. I think the 10YR bond has seen the high water mark for this cycle.
petegmp wrote:
they might spend some money converting another one of those option gen 4 masted rigs into a high capacity conventional unit. I heard the first conversion is working well. I would be shocked if they spent more money building new Pumpers. If they can sell off some of the parked equipment that would be good instead of a possible future write down. How long do you see depressed oil prices lasting? I can't see it going past 6 months.