Suncor Energy Inc T.SU

OPEC meeting

[lifeisgood1010]

Most of you know that the next meeting is coming soon(June 1st).

I would bet a buck or two that the Biden administration is pressing as hard as they can on the Saudi's to have the price of oil as low as possible.

So were would you want the price of oil coming into the meeting?

AT $75 or $85?

The higher the price, the higger the pressure to put more barrrels on the market.

At $75, the Saudi's and the other members can stand the heat a lot easier.

With what we read on the Saudi's budget needs, i doubt that they be very happy to see the price go lower than $70.

In the end,economics, supply and demand does dictacte the direction of oil.

Growing population = growing needs.

For me, i believe that the energy sector is and will continue to be a good place to be
invested in for many years to come.

Especially with the mentality change of the company rewarding shareholders by buying back shares and increasing dividend.

The years of squandering investors money is behind us.

Could we see short term price decline.ABSOLUTELY

Volatility is normal and part of the investment process.

But with time, i am in the camp that we will see much higher price for Suncor and many other
players in this sector.

Staying long.

[mrbb]

u still missed the big elephant, the USD

[Marty47]

Well you will loose your buck , the Saudi already show the middle finger(well fist bump)  to Joe before with oil at 100$ , I don't think Joe will even try as election get close I don't see the Saudi give help to Biden , actually trump may already promise them weapons to keep oil up .  the next meeting will be virtual , the expert conclude the decision already been made , we

[Franman184]

Saudi would like to tighend the market to the point that as a barrell of oil is produced the buyers are lined up to aquirei. Then and only then will the traders be less relavent, The hardest thing is to get alot of people to agree to anything. Does OPEC have the stomack to go along with the Saudies. The USA will pull out all manouvers to break them. But even with that the under investment is still

[Experienced]

Franman......your comment about the impact of the Saudis tightening the oil supply and reducing the paper market....... Not happening.....the paper trading market is 10X the physical oil market.  The key word here besides the size is the word "paper" (they don't need physical oil). Changing the supply of oil is only one factor in the math for the paper market and all changing

[pooltec]

Yep thats why the king dropped the price to justify extending the cuts next weekend.  Back up to 80 we go. I remember those social programs you talked about they need to pay for too. "Wash rinse and repeat" our good friend MG would say.  We have  seen this all before.  Feeling HOU time.  Remember the demos' traders will make money too.