Baytex Energy Corp T.BTE

OPEC+ vs Biden

[topdown99]

Biden needs immediate results to prop up his failing popularity , OPEC+ have decades ahead of them that don't include Joe . Woke media and dumb policy have put OPEC in the drivers seat and US shale is no longer a threat , profit not production is the new industry religion . The recent assault on oil prices is as temporary and fragile as Biden's mental health . I'm sure OPEC will have much more to say at their meetings conclusion tomorrow .

Investment continues to be curtailed which further restricts production . This game of chicken futures traders are playing will only cost consummers in the long run . The banks have been waiting for an excuse to crash the market , whether it's a "real" concern or not . In reality , this new variant doesn't produce any more severe symptoms or cause any more hospitalizations . Its all a hoax but they control the microphone .

[1234bmth]

OPEC+ is not concerned much about Biden and US SPR release, the SPR is a fixed number barrels of oil not a continuous production, therefore it will decrease fast and they cannot release all of it, on the other hand it has to be replaced later in time. The main issue for OPEC+ is the new COVID variant, how do they evaluate the impact of it in such short period of time. Some countries and media make