Obsidian Energy Ltd T.OBE

Makes a person wonder....

[kavern23]

You look at todays EIA oil report...USA exported 4.9m barrels a day.  I have followed this for decades closely and I have never seen anything remotely like this. Last year after war USA was high and was exporting 3m.

USA must be supplying so much of Europes oil needs.

Lets use logic here,  If Russia is supplying India and Russia hard and Europe is gained to USA now......

Saudi, Kuwait, and UAE are getting worked over and must be angry.

[JohnJBond]

The US also imported an average of 7.2 million barrels of oil per day (3 and a bit comes from Canada). Most of the US exported oil has been going to China. Until Obama changed the law, the US was prohibited from exporting oil The US had about 16.165 mb of refinery demand in the most recent week. That is the oil demand center.    Those refineries get the oil they need to make

[kavern23]

John....you have to remember something....Natural gas in Europe was insanely high compared to oil last year.  NG energy conversion to oil was like 180 dollars or more. But right now Natural Gas is getting cheap in Europe compared to oil....and this is summer we will start to see oil demand in Europe to be pressured. China is like 800k a day in oil exports  from USA.  China is a

[JohnJBond]

Most of last year's gas to oil subsitution has been undone by now. Oil growth now is in India, and greater Asia (ie China and its surrounding countries - Indnoesia etc) India is going off - its where China was a decade plus ago.    Just look at how many airports India is planing on building this decade.   Or the 30+ km of new highways they are building every day