RE:RE:RE:Dumped 3000 .for a nickel profit …No doubt Frank that you can do the math. Bte gonna languish range bound as the market makers create the swings. Not gonna break out of its range until they lower break even costs and increase netbacks such that it creates more bid interest than the ask walls that the market makerd put up.
What is global demand growing by? 1.2 million bbl/day year on year? So daily consumption in May 2025 will be 1.2 million bbls per day than it is right now. Xom is easily covering most of that from increasing production from Guyana. Doesn't look like there's much on the horizon that'll cause demand growth to keep up to supply growth. My bet is that global oil prices remain range bound for the next few years. The companies that will do well are those who can reduce their break even costs. I wanna see break even cists in the 25 to 35 dollar per bbl range before I get interested.