RE:RE:RE:RE:RE:RE:RE:NR Thoughts.Why are you skeptical on US shale?
It was at a record 13m in early 2020....covid happens and rig counts go to 200 in the USA....
Shale acted like it should...200 rig count made a rapid drop in USA production.
USA shale got back to 11.8m barrels a day very fast from Covid.
I would be more optimistic on USA shale failing if USA production was sitting under 11.5m right now.
I bought a trading position in OBE yesterday and I unloaded today for a nice gain.
Should have been doing this earlier.
I am not bankng on Russia causing a 3-5 year bull run in oil and gas.
If anything at some point I think Russia will cause a bear market in energy at some point.
Just speeding up wells getting tied in is all Russia has done.
Enjoying this while it lasts.
perstrudent wrote: ...to extent yes..but russia lacks the technical downhole tools without the help with oil majors...If the big service companies comply, Russia going hurt...what happens in 12 months when their downhole ESP need to be replaced on wells....they need western technologies...anyone in the oilfield that has used china made cheap knockoffs know how well they only work...Russia will struggle...how much their production declines will have to be seen...Shale at best can pick up 1 million a day..and Im skeptikal at that with labor, supply chain, casing, sand etc... but even if they did thats only a 10% decline in Russia production a year out....