RE:CNQ not participating right nowIMHO,Oil stocks are a day traders dream right now.The big jumps seem to have already occurred. that's not so say that prices won't go a bit higher,but there's just too much headwind right now.This virus is the biggest factor....the world's economies are shut down laterally. The spat in the opec circle is only part of it.If no oil is used and storage is at all time highs,one wonders really when everything goes back to normal.It could take years...people have no money..even before the virus,central bankers were warning of huge debt levels because of low interest rates.
I'm over 60 yrs old,and I've seen a few crashes and downturns,but this ones different.I know that's what's said everytime"this time it's different"....it's almost a cliche ,however it's the far reaching implications that concern me.The experts know nothing..and finally many admit to that.
That's somewhat worrisome to me.
As for oilco's,all I can say is the big Canadian ones will survive..SU,and of course CNQ..and a few others...but many will not.The Americans will be far worse off,as most of their big oilco's have unsustainable debt loads...and the small ones will vanish..
Canadian oilco's have been able to survive with WCS prices ..unlike the Americans WTI...and that's the fault of the no pipeline nutcases out there.
I wonder where those fools think their pensions are going to come from..
But that's another story