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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.


TSX:BTE - Post by User

Post by smallcaptdron Sep 03, 2022 11:33pm
513 Views
Post# 34940560

What if OPEC cuts production

What if OPEC cuts productionIt's obvious that producers want to cut production to increase the price of Oil but will it work? When demand was legitimately tight then the price of Oil increased but we all know that raising the price of Oil does nothing to correct the supply issue all it's about is greed so I'm wondering if traders will run up the price of Oil as high as producers are expecting it to go because traders know that its artificially being manipulated plus traders know that it's just a matter of time when the world economy will slow down drastically driving Oil back lower so they might not participate in driving Oil back up to $100. Plus driving Oil higher is the worst thing to happen during a recession because people will be strapped for cash with all the interest rate hikes and if gasoline and diesel are driven higher to reflect higher Oil prices then inflation will continue to stay high dictating how high the FED will raise rates it's going to turn out to be a vicious circle and the economy will implode under all the stress creating another market crash but energy stocks will benefit from higher Oil. Time will tell. JMHO
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