Obsidian Energy Ltd T.OBE

WTF....

[kavern23]

Like the last few days...oil has been green over night and by open...wti is 1-2 bucks down.

So I signed on to assess damage knowing if WTI rips to 62-63...she is not good. I likely have to sell something today.

Ready had a plan to sell if needed  for margin...basically anything but obe.

And so far my stocks are holding today.   Havent needed to sell.

Is OBE getting tiny bit of short covering earlier.  Looked like sub 4.25 was in cards for obe and then boom up.

Humblly optimistic.

[Mickey2]

OPEC+ has just decided a few minutes ago to go ahead with 400,000 barrel production increase starting January

[pennydredful]

Did    they  buy   some  of   Biden's  son's   paintings   as well ?

[WanTBe1]

With all the building in Bidens plans demand will pick up and pass these oil gains. Price for oil will be back over $80.

[Hendrick3]

I think OPEC is much smarter than we give them credit for. The talk with Omicron was that it would destroy demand like 2020. OPEC says steady as she goes and everyone realizes there is no big demand destruction story. If they had cut production they would have given credence to panic which never works out very well. 

[kavern23]

Agreed...OPEC is showing the market stability It is BIden that has tried to unstabilize the market.

[JohnJBond]

Personally disappointed - but the market took it well.    May be all the bad news is out now. OPEC isn't the only one to keep things unchanged.     South Africa has not changed its Covid alert level - still at level 1 - where it has been since Oct 1. In other news Transmountain pipeline should be flowing again by the start of next week (in their words, a

[kavern23]

Thanks Mickey. I thought the decision was Friday after market close for Opec.

[kavern23]

Thursday, December 2, 2021, 10:05 AM ET By Summer Said and Benoit Faucon OPEC and a group of Russia-led oil producers have agreed to stick to their plan to gradually pump more crude, according to people familiar with the deal, despite worries about demand following the identification of a new Covid-19 variant. The Organization of the Petroleum Exporting Countries and allied producers