Post by
mofwmofw on Oct 05, 2022 8:22am
I absolutely don't know what to think
Some of you guys will not like this but I'm kind of hoping between 750,000 and 1 million barrels to be cut .The reason is we don't need a deep recession and if the prices get too high that's what will happen. If we had a more mediocre approach of around between 90 and 100 for WTI, I think it would make everybody happy and everybody could live with the gas prices. But too much of a cut won't be good just as not enough of a cut won't be good I just hope it works out. Biden deserves it, he cut pipe lines and discouraged oil exploration, so it looks good on him and Trudum up here. Around $100ish is good for All concerned ,I think. The oil companies and investors will do well, and I believe we can manage with a little higher oil prices and the economy will still chug along just fine. GLTA
Comment by
TheWokeLemming on Oct 05, 2022 8:35am
I say 1 million cut and some strong language that if the USA keep adding barrels through the SPR then OPEC+ will act accordingly.
Comment by
masfortuna on Oct 05, 2022 8:48am
Anything above $65 oil and these companies are making money. The issue is that the volatility and MEDIA PERCEPTION is scaring away investors. Opec will send a message today a little louder than the last time. so it will be higher than 600k but I don't see anything more than a million.