What I find funnyI am a little surprised that in 5 weeks Baytex will close out the last of those old hedges yet nobody is talking about it . Even with the doom scenerio one guy keeps posting here , BTE FCF will remain robust and with the expected winter related spikes in WTI/NG , BTE is poised to reap the rewards .
This new Russian oil cap is a joke , China and India will finance Russia's war effort while the west pours billions $$$ into the Ukraine . Starting to look like another Vietnam or Afganistan , a long drawn out war . Sooner or later China will end this Covid zero policy but even as it stands today , Russia can't pump enough oil to supply both China and India . Russian infrastructure has been poorly maintained and amping up production will probably cause a blowout and or fire as pressure increases .
We'll see who's right but with no new supply I only see prices ramaining firm or rising .