RE:RE:$43 bbl WCSJust an inflationary increase since have to buy all the RU steel etc from Asia or Germany via Dubai....they all take their cut. Then you have the whining Canadians buried in debt crushed by interest can't even afford the F150 fuel demanding raises while sick or dog babysitting half the time haha.
Canadians O&G capex inflation is nearly 300% if simple pipelines and those metrics are used. So that increase is actually a decrease in value in a current relative sense.
MrAlberta wrote: Doubt it, Cenovus just announced a capital budget of $4.0-$4.5billion. It's not all wells but that is a good indicator that O&G spending, in western Canada, will be on an uptick in 2023.
Also, you're WCS price is a work of fiction. The last time WCS was $43 was in early 2021. The WCS today is $49.17US which is lower than I would like to see but just use real numbers already.
The RU oil price is also fake. The Urals blend crude for European delivery was $55.97US on Tuesday. WCS oil
Russian oil market of 7billion people? What?!
Earth has 8billion people so you're suggesting that Russia could supply 7/8 people on earth?
Daily oil consumption for the entire planet is ~97M barrels a day.
Russian produces ~11.2M barrels per day
Russia would have to be producing something like 85M barrels per day which is like 7x what the Saudis are pumping.
All in all, bogus numbers with exaggerations to suit a bizarre political and personal agenda. Please feel free to live inside Russia if it's so great.