MEG Energy Corp T.MEG

Meg up Oil down

[Olliethegoalie]

Anyone have thoughts on why oil stocks are up and oil is down?

[jleer42]

Nothing specific I am aware of. I would guess a continuous re-rating/recognition of ongoing financial reporting.

[jjjorge35]

Probably because OPEC increased their long-term oil demand forecast.  Just a guess. https://www.reuters.com/business/energy/opec-raises-long-term-oil-demand-view-calls-investment-2022-10-31/

[DaddyWarBucks]

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[ratsnake220]

oil prices will de couple from stock prices if the market sees debt reduction, possible dividend, possible share buy backs.....As nuttall says...company committed to paying back shareholders,,,,,it could be the day to day price of oil means little now...it could be people looking for a sector to hide out in as a value play.....when faced with a choice....do you pay down debt to improve your

[churchofnutsacc]

The price of oil looked like it was headed to $60 until OPEC stepped in to create a floor with production cuts and even the Whitehouse says they are buyers at $70.  I say throw a dart at any one of your favourite oil stocks and they all double within the next 18 months regardless of where fed fund rates go.