RE:$90 will be the new floorand unicorns are running rampant
Franman184 wrote: OPEC Plus is back in control of crude oil and Saudi arabia wants $90 and Russia has agreed to cut up to 3 million barrels a day to help maintain the price. Long Canadian oil and gas companies. You will not get rich over night but long term holders will be rewarded. Us shale can no longer push prices down as tier 1 sites are rapidly declining and $90 does not make it sustanible to drill new wells that take alot longer to return a profit so only single digit production increases by US producers.
The potential for price to rise quickly above $90 because of an event versus price to drop significantly below $90 is about 10 to 1.
Just my opinion base on what I have learned. Subject to change with more currrent data. GLTA