Post by
BayStreetWolfTO on Jun 11, 2021 2:47pm
Oil prices macros support BTE management plan
IEA says "Global oil demand to hit pre-COVID level next year: IEA"
With Q2 almost wrapping up 3-4 more quarters and we start seeing a move to shareholder return phase. Right on track with the BTE management plan. With continuing positive Macro through 2022 pricing looks positive. The data points to much more than a 2-3 quarter run.
"Global oil demand will recover to pre-pandemic levels late next year, the International Energy Agency predicted, urging OPEC and its allies to keep markets balanced by tapping their plentiful spare production capacity.
World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the agency said, in its first detailed outlook for the year ahead. At some point before the end of the year, demand will surpass pre-Covid levels, it said.
Reference: https://www.bnnbloomberg.ca/global-oil-demand-to-hit-pre-covid-level-next-year-iea-1.1615690
Comment by
Suzy2cool on Jun 12, 2021 2:41pm
Posting some great stuff Wolf, do you think people will realize now is the time to be buying as the share price will be much higher closer to the date when their focus shifts to shareholder value , buybacks ....dividend or what have you , seems logical to me to be adding now instead of waiting until your potential profits would be substantially less ????
Comment by
Unlucky13 on Jun 12, 2021 8:17pm
The issue is one false mistep by OPEC or a return of Iran to the market can send oil back down to $59 and BTE drops precipitously at that point.
Comment by
Quietinvestor on Jun 13, 2021 10:08pm
Like the entire market. Not specific to BTE. This is the stock market - investing. Nothing is guaranteed. GLTA