Baytex Energy Corp T.BTE

WTI

[DaveInvestor59]

Does anyone know why WTI starts out in the green on market open most mornings lately and then pretty quickly turns red? Same thing this morning again. Whatever happened to $100.00 oil? Is this a stall/correction?

[Unlucky13]

The IEA (International Energy Association) forecasted $77 oil for 2022.  Not a correction, right near the top end of the range for 2022 forecasts.  Also, the USA is releasing the SPR to balance supply and demand.  It's the fifth wave and the overwhelming majority of analysts are saying $80 oil is the peak as increased supply is on the way.  With $77 oil for 12 months slowly

[Unlucky13]

Also, Biden wants to have 50 percent of new cars electric by 2030 and Lithium is in great demand.  The writing is on the wall, by 2050 most countries want to be carbon neutral which means fossil fuels are being phased out.  The USA is ramping up production and green energy is the future and coal and oil are dinosaurs.  All the easy money has been made here and it's going to be a

[Relaxrelax]

We're in an oil bull market.  Probably for the next 5 years.  Worrying about daily or weekly fluctuations is just going to exhaust you mentally.   All this does is flush out weak hands that don't have the balls to hold on to the stock when the fundamentals have not changed.  I don't believe they will release reserves but if they did it would be a short term solution

[red2000]

Agreed ! A short term drama has to be setlle by a short term action, Here again my solution : Taxes reduction on gasoline... Gov have to do it's part, reduce taxes on oil ! Especially gasoline for a short term period like 2022-2023 ! Enough time for producers to increase supply. They need 80-82$ US per barrel. May help to reduce volatility and part of the inflation. At some point