RE:WCS jumpedEIA monthly revision released on the last day of the month reveals a positive revision of 973,000 bbl/d for May/23. The weekly data should not be trusted they say. This revision shows that traders' fixation on interest rates, inflation and recession to be overwrought as fundamentals prove up a supply imbalace of +2 mm bbl/d for 2H/23.
All the moaning about Gear is also over wrought. As a micro cap, Gear will receive capital appreciation after all the bigger and better names have rerated to the point that Gear offers a compelling upside. $.85 is an awesome buying opportunity that I've been waiting months for. The classic market reaction to a tone-deaf board decision based upon sound management policy, not simping to market impulses.