RE:RE:RE:OPECpierrelebel wrote:
"...Russia shuts the pipelind down,..."
True, the pipeline to Europe.
However Russia keeps selling oil to China, India, two of the largest markets in the world. As such, there is no real shortage of oil at this time except in Europe.
US$85 to US$100 should be the pricing range for WTI for the next several months.
That does not change the longer term appeal for Canadian oil producers such as WCP etc... They make plenty of money at US$85 to US$100 to pay down their debt, buy back shares and increase the dividend.
All in all, life is good. Even better if you ignore the daily or weekly fluctuations.
Yup, I get it. China and India Im sure are loading up on bargain Russian oil, taking a crapload and storing it.
I know Canada and the U.S havent been buying Russian oil for a while now (I think 2 years or more for Canada) Im not convinced the latest stragedy of caping the price on Russian oil will help either. In any event, I go along with the manipulation theory and your right, I should ignore the daily and weekly fluctuations. Ehen I see this stuff happenong I try to assess why when at the end of the day its out of our control for the most part. Good advise.
GLTA