RE:$84 WTI todayWhile I believe that the current supply & demand balance is being patiently controled by OPEC+, there still remains capacity within OPEC+, and there are still a large number of private companies willing to drill. I do also believe that many publicly traded companies are controlling their spending, but at some point if the price maintains >$80 WTI, supply will be increased. Greed and pursuit of profit is too tempting.
At the current WTI prices, manying Canadian companies, CPG including, are just p@@ping cash - so it will be interesting to hear if CPG comments on progress on the 5% NCIB they announced early this year.