Bullboard - Stock Discussion Forum Petrotal Corp PTALF

Primary Symbol: T.TAL

Energy Oil & Gas E&P

PetroTal Corp. is an oil and gas development and production company focused on the development of oil assets in Peru. The Company is engaged in the exploration, appraisal and development of oil and natural gas in Peru, South America. Its flagship asset is its 100% working interest in Bretana oil field in Peru's Block 95. Through its two subsidiaries, the Company is engaged in the ongoing... see more

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Petrotal Corp > Bear Outlook

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Post by geezer21 on Nov 26, 2022 4:21am

Bear Outlook

Bear Outlook posted by "smallcaptdr"

Oil not looking very promising and there's absolutely no reason for $90+ Oil and Oil rise was started with the War betting on supply disruptions but this is now fading away fast because of G7 cap being higher at $65-$70 well above Russia's current price of $52 so Oil can fair well in the $70+ and with China the #1 Oil consumer being critical because COVID is worsening something I said would happen when everyone was touting China's great return with the lowering of quarantine time from 7 days to 3 days and I said that would cause COVID to explode and it did so bad that China is reducing shipments of Oil in Dec plus European refineries have too much Oil and there's extra production coming online from various sources all the time. And on top of this, we are heading for a global recession caused by higher Interest rates so the US #2 economy is also heading for slower times along with the rest of the world so Oil doesn't need to be up at $90+ and I'm starting to think that $86 will be what to expect if OPEC makes cuts but don't forget about NOPEC if the US gains control Oil prices could drop down to $65 next year. Sure we will rally higher but times are changing toward lower Oil and right now we aren't done with $70+ Oil I feel that we will be testing $72 Oil as we head into Dec and it'll be interesting when the G7 cap Russia's Oil to see the reaction of the Oil market if Russia goes along with it and Oil keeps flowing, There's not a lot of suggestions out there any longer calling for $100 Oil, and $90+ is being questioned with $80+ Oil looking like the new high plus we have been average Oil at $83 from the beginning of Sept with Oil sitting at Jan lows in the $70+ and there's still believers that Oil needs to be at $95 to $120 after all this.

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