RE:RE:RE:RE:Baytex acquired more land The price of oil hasn't changed for months. The stock prices are going down because retail is scared, but the company revenues are the same.
In addition, the commodity markets are well known for having a large speculative component. That speculative component is people guessing where supply and demand are going to land months from now.
Current oil stocks are at or below their five-year lows. Distillate stocks are still well below historical levels.
What we are seeing in the commodity market for oil is a lot of guessing. Some people are very bullish, some are bearish, and they are sawing things off at 72–74 WTI.
Builds in oil and product stocks are expected at this time of year to prepare for the Driving season starting in May. So under building at this time of year can be quite bullish.
I don't see any evidence that we are awash with oil. I see considerable evidence of the opposite, and potential for upside risk premium from wars in multiple places around the world.
Place your bets as you see it. I'll place mine.
Realdude wrote: Riski are you 4 years old. Oldest and perhaps only rule in business is supply vs. Demand. Right now too much supply hence oil price correction from $100 ish to $70 and going lower. That's proof.