Gamehost Inc T.GH

Global Oil Supply Deficit by end of year :-)

[nukester]

Courtesy of "MigraineCall" over on the Suncor board:

https://www.argusmedia.com/en/news/2366445-opec-jtc-revises-down-2022-surplus-to-400000-bd#.Yw-lP0Tds0c.twitter

Lots of good tidbits in the artcle, this one I enjoyed the most :-)

Excerpt:
"Under the revised analysis, Opec+ expects the market to be in a deficit towards the end of the year, with demand forecast to outstrip supply by 300,000 b/d in the fourth quarter. A 300,000 b/d deficit is also expected for the whole of 2023."


Nukester comments:
Remember the United States is draining the SPR oil piggy bank a million barrels a day, this will end near the November election for various reasons. 
We may get an Iranian nuclear deal in the near term, if so the resultant dip in global oil prices will provide a short term opportunity to get some "Costco" style pricing on your favorite oil / gas names.

It is always refreshing to hide out in low beta Gamehost and catch your breath, but sometimes even the most battle scarred retail rube investor needs to get back in the fight and throw long oil / gas :-)

Cheers,
Nukester

[Thelongview]

Thanks for posting Nukester. I agree that any Iranian deal would be a nice buying opportunity in oil stocks. I know I will be buying if that happens but I'm not sure if the Biden Administration can legally guarantee that no future Administration will not change its mind about a deal with Iran. It will be interesting to see what happens.