Bullboard - Stock Discussion Forum Permex Petroleum Corp C.OIL

Alternate Symbol(s): OILCF

Energy Oil & Gas E&P

Permex Petroleum Corporation is a junior oil and gas company. The Company is engaged in the acquisition, exploration, development and production of oil and gas properties in the United States. It has assets and operations in the Permian Basin which includes the Midland Basin and Delaware Basin. The Breedlove B Clearfork properties are situated in Martin County, Texas. The Pittcock Leases are... see more

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Permex Petroleum Corp > Oil Prices Will Jump in 4-6 weeks

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Post by nozzpack on Apr 29, 2022 8:10am

Oil Prices Will Jump in 4-6 weeks

This is because the U.S. Department of Energy announced that it began releasing 30 million barrels as part of President Biden’s historic Strategic Petroleum Reserve Release.

These barrels are the first U.S. sale in the largest release from reserves from both the United States and the rest of the world in history.

These releases, when completed, will see a major rise in the price of oil, as there aren't 1 million barrels of spare capacity..

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