Athabasca Oil Corp T.ATH

OPEC not the only reason for Oil to rally

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A lot of strange events have happened and we're dealing with a full hand now. Last time OPEC made cuts pissing off the US it seems to me that they drove Oil down to $73 showing that the traders are the ones in control. So Oil has worked its way up to $83 falling back now to $79 ahead of the weekend. I remember commenting that Oils rebound would hit $83 as the high the day before   Apparently, Russia had increased their production and now OPEC being aware of this was saying that when they made their cuts Russia's increases weren't included so it sounds like they might make an aggressive move towards additional cuts plus they can always agree to remove the cuts once Oil firms up I would guess so it'll be interesting how it all will work out for our Monday trading. The EU is working on a price cap for Russia that comes into effect this week and apparently, they're leaning towards a $60 cap which would hurt Russia when Oil is upper $85+ but right now their Oil goes for $53, like Walmart, which sells a lot cheap. Right now Russia is bombing Ukraine's Energy Infrastructure I have always said that one day will come when Russia's Oil and Gas Infrastructures are sabotaged that would definitely send Oil to $100 in a couple of days, plus China, they just need to say some BS that COVID is under control so there are a few wildcard reasons for Oil to move higher than $79. JMHO  GLTA



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