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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 Nov 24, 2022 8:08pm
191 Views
Post# 35126715

Why would Oil head to $90

Why would Oil head to $90What's the main driver for higher Oil? OPEC, has OPEC cuts helped so far? Not at all, If anything Oil is trading lower since then as we head towards Dec where we are being warned of Oil sinking lower towards $70 with a lot of great reasons why. And why does Oil even need to trade at $80+? when things are worsening plus China is a joke and if you believe that they will control billions of people into becoming COVID free then think again it isn't happening and every week that passes the Global economy worsens so that even if in 2 months they are cured by then the economy has eroded so much that it will be ineffective just like OPEC cuts because recession rules all and higher Oil prices won't last. And because G7 is thinking of capping Russia's Oil at $65-$70 that's high enough that Russia wouldn't overreact shutting off Oil and NG supply because they are selling their Oil for $63 so our Oil will have to be lower than $80, and with the FED raising rates again why would Oil rally towards a wall? Everyone has been WRONG since June,  Oil will hit $140+, Oil will hit $100, Oil will hit $90, Oil will hit $80 next is Oil hits $70 and whoever is looking at this trading pattern and listening to the same idiots that predicted $100 Oil, you're wrong and you would never be my book-keeper or analyst we would go broke. What makes you think that Oil has to trade higher when all it's doing is going lower? Oil will bounce back but by then the SP will be so inflated that heading higher and pushing the SP up is a huge risk factor. These companies just have to pump an extra 5000 bpd to make up the revenues lost selling $70+ Oil otherwise their next quarter is going to be lower than the last and so on. They can fudge the numbers in their Q.  I'll still trade but I will never hold at these SPs. I've been bashed since June calling for $ 75 Oil year end so I've outdone the best Oil forecasters out there and now they don't want to give forecasts. 
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