Baytex Energy Corp T.BTE

OPEC+ discussion for 1,5 Million or more ...

[red2000]

https://www.forexlive.com/news/possible-opec-cuts-of-15-million-or-more-may-be-considered-20221003/

It's like they want to sqeeze Biden with is SPR !!!

It's a reality check !!! WE have to pay the right price for Oil & Gaz not based on a recession fear !!

All indicator are saying we are already in a recession, No reason to continue the rise of interest rate ! It's time to made a soft landing !

It taked a couple of months to see the impact of higher interest of the federal reserves !
Here we are, we have to accept an inflation rate around 4-5% for at least 2 years !

Because, it is the rise in wages (salary) and the astronomical financial aid from governments that have caused this growth in inflation rates.

Inflation rates will come down end of 2024 around 3 to 3,5% ! If salary increase drop down to a 2%, 2,5% annually.

Only my O !

[red2000]

More about it !

[Moemoney42]

Yes with Biden acheiving his lower gas prices at the pump, demand destruction won't be there as one poster here likes to continually post..!  ;-)

[GingerEnergy111]

The physical will always win out over the paper.  Winter is coming to the Northern Hemisphere.

[widrig]

If true, WTI could push into the 90s fairly quickly. BTE positioned perfect going  into earnings

[jleer42]

Thanks Red. Regarding the Fed, they don't just want a technical recession they actually want GDP declines and higher unemployment. They were so late recognizing that the inflation wasn't "transitory" I can only see them continuing to be behind and overshooting with interest rate rises.   For OPEC it will also be interesting to see what messaging they include with their quota

[red2000]

Agreed with you jleer42 ! The words that OPEC+ will speak will be important for the medium and long term business of Oil !!!

[masfortuna]

And that is the main concern everyone has. They were late in responding, and then they used the term "transitory".  Now it's no longer transitory and inflation is the main enemy they want to eliminate even at the risk of destroying the economy. So far the markets haven't bought into this narrative completely as exemplified by today's market activity. I don't think

[HighOctane89]

It seems the fed wants to see peoples personal wealth drop , some screwed up theory that if you put everyone in the poor house then that will solve your demand problem . The problem is when an irresisable force meets an immovable object something always breaks . Greenspan did this back in 2000 , kept increasing interest rates saying they were "tapping the breaks" until they eventually

[Chrisinvan7]

Well the BOE changed course and resumed QE last week, I suspect the fed isnt far off from doing the same, dissent among the ranks of fed officials is already starting. If thats correct, USD has probably peaked and oil is off to the races. 

[marketsense]

Hope you're right about that Octane.  It does seem somewhat ludicrous if not insane to destroy the whole economy to save a $1 on a gallon of gas.   These bloody idiots practically destroyed their own oil & gas industry with their negative rhetoric and now are bent on destroying the economy to try and cover up their mistake.  At least the Saudis who control Opec have some

[HighOctane89]

They (fed) are playing a dangerous game , how they move forward from here will tell you lots . The RBA (Australia) only went 0.25% this morning instead of the 0.5% that was expected and the US ISM dropped earlier today showing a slowing condition . There are 3 fed members speaking again tomorrow (including Mester) , the tone of their comments will be key to markets .  As much as I want to

[masfortuna]

Well it's similar to what we have here in Canada. Apparently home prices dropping is a good thing. So let's see if I understand this.  Based on market demand, a home is worth 2 million in 2021. Someone woked hard to be able to own that home.  Then somebody decides it is too expensive and not everybody can afford a home so the price drops by 25% and is now worth 1.5 million. 

[Chrisinvan7]

The market demand you speak of was created artificially by QE and zero percent interest rates, it had nothing to do with fundamental economic strength, which is why asset prices are falling now that the stimulus is being taken away.

[masfortuna]

? What?  That's NOT how it works. 

[masfortuna]

Economics 101: Any interest rate hie would need 6-9 months before we see an impact on the economy. So at this point we are not actually seeing the effects of the rate hies BUT the media and the FED seem to have forgotten that tenet.

[GingerEnergy111]

The media is just an arm of the government.   But the great unwashed buy it all. Following the money, a little bit of Joachims Razor and some common sense typically reaveals the truth.  But not always.... Be brave and watch for the signs!