Athabasca Oil Corp T.ATH

OPEC just turned into NOPEC

[ComradeKomissar]

No deal...the prices will blow up...i hope not too high, or the economies will be decimaded by inflation.

In other news, SP500 has reached a technical level that makes it liable to an engineered crash. It's energy weighting is only 3%, so I am not too worried. However, it does give me pause. Would a correction greater than 20% take us down as well?

[Chris007]

No deal...followed by a free for all to pump as much as everyone wants? The disagreement with the UAE is over their allotment of production quota.  they think an exception should be made to allow them to pump more.

[ComradeKomissar]

That's a possibility, but this expert (and he's good) thinks OPEC+ may pull a rabbit out of its hat again. https://threader.app/thread/1410742692204609539

[Chris007]

Indeed, a compromise is the most likely outcome...who knows, maybe the Saudis will take one for the team again, like they did in January

[Nothingmatters]

No if there is no agreement reached, it is not free for all. Their agreement stands till April 2022 and only after that they can pump as much as they want. Till April 2022 only agreed cuts of 400000K like in OPEC agreement.

[CandyC]

If no deal! Might be the greatest spike ever in WTI over the next few months? $100 by end of august might not be out of the question 

[littledave55555]

Don't get your hopes up ... they are meeting again on monday... an they know if the price goes way up so does the drilling for oil in the states which will flood the market with oil and drive the price of oil back to the low 60's ...maybe into the 50's.... So let's hope they make a deal 80 oil is high enough everyone wins..... UAE want to pump 700000 more barrels of oil ... it'

[CandyC]

Slim chance that drilling goes back up. If no agreement then the current deal stays in effect until the end of 2022. There's a very small chance that EU will go against the agreement 

[MrICE]

No one will invest in shale until all OPECs excess capacity is used up and supply is still short. Then we have oil at its true price. Then big money will invest back in. Money isn't coming back with OPEC in control. I believe there will be a deal Monday with a minor bump extra for the UAE. All they are asking is that their baseline or original starting point was too low  to begin with