ARC Resources Ltd T.ARX

OPEC+ cuts put $80 floor under oil, says Deloitte

[Trapped]

Just as the U.S. starts another 26M-barrel SPR drain mandated by congress. Good timing on OPEC's part as it makes Biden's move completely pointless. If they ever decide to start refilling their SPR (doubtful at this point), WTI / Brent will likely be going much higher.

https://financialpost.com/commodities/energy/opec-cuts-put-floor-under-oil-deloitte

[GunnerG]

What move by Biden?  Biden has no say over the 26M barrel release which was passed in 2015.. 

[Quintessential1]

Well Trapped did state that it was mandated by congress in his post but given the Biden administration's past releases it is easy to associate it with one of theirs.  I am not sure Biden could have even stopped it, (if he wanted to) as I think it would have taken an act of congress.  BTW Trapped I stole this article to post on another board.  Thanks. I know the headline is

[angelnicky]

Citi Morse is saying oil is heading south. Too much supply Demand is decreasing with receission

[Quintessential1]

No doubt but here ARX is pushing $16 and buying back over 6 million shares last month. And it's the shoulder season. BTW do you ever check commodity pricing before you post? GLTA ARX BULLS

[angelnicky]

Morse of Citi said NG will not go much lower now, however he sees a hughe drop in oil

[Trapped]

Yes, you're right, Gunner. I conflated the two and was speaking more generally about his desperate attempts over the last year to reduce gasoline prices to save his sagging approval ratings. It doesn't represent sound energy policy and they deserve the outcome they get. No worries, Quint, and thanks! Happy Easter! Cheers and GLTA ARX Bulls.

[MyHoneyPot]

I feel i have a moral obligation to not lead people astray, or generate false hope in this incompetant management team.  IMHO

[Trapped]

Either way, we kicked TOU's butt today. Cheers and GLTA ARX bulls.

[GunnerG]

WOW, what are you on, I ask again?  "Moral obiligation not to lead people astray.."  How about not flip flopping like todays salmon. You only weeks ago were talking about all the drilling mgmt was doing in Kakwa and praising them.  You had ~a week of talking up the company Mr Moral Obligation said this not even a month ago....... MyHoneyPot wrote: No this is really a 30

[Quintessential1]

Did somebody order The Wet Blanket Du Jour? PMSL only mhp would try to bum us out on a day like today! Congrats to all ARX BULLS