Tamarack Valley Energy Ltd T.TVE

Oil been at $85 2 months

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$85 Oil has been with us since the beginning of Sept and seems to have spent more time under $85 than above it so Oil needs to be over $86+ if it wants to show that a new trend has started. No one can be sure how high Oil can go with the FED rate hike due Nov 2nd and because Inflation hasn't been dropping as fast as the FED would like they will continue to be aggressive in raising interest rates but today was a good day for Oil to advance with the lack of US Data till tomorrow at 10am New Home Sales and Thur will be GDP and Durable Goods which could affect Oil. It's great that the last 5 days have seen share prices increasing but remember that we are just spinning our tires at $85 and need to stay over $86+ so watch that the SP doesn't get too far ahead while at $85 because of the probability of Oil dropping below $85 again is there and if Oil is to head higher into the $90+ than $85 is the support level to bounce off of. It's been quiet as far as news being released controlling Oil and Biden "Mr. NOPEC" has been out of the news so he must be thinking of other ways to move Oil lower it'll be interesting to see after the elections if NOPEC gains traction and becomes effective. This is the last week trading in Oct except for Monday 31st so how will Nov start? Will Oil gap up $5 because of OPEC or will Oil gap down because of the FED will be interesting which one will pull the hardest. One thing is that since the beginning of Oct Oil demand has been downgraded by leading Oil gurus and I'm starting to wonder with the decrease in demand if OPEC cuts might not pack a hard enough punch to keep Oil high with the headwinds slowly turning turbulent as we move forward. Overseas has been relentless at selling Oil off down to $82 because all the lowest Oil prices have been happening overseas since Friday. Nov will be interesting, to say the least, and if Oil doesn't respond extremely positively to OPEC that the recession will by pulling Oil lower toward the $80 - $75

Oil Market Report - October 2022 – Analysis - IEA


IEA revised down global oil demand growth forecasts | Oil & Gas Journal (ogj.com)

Opec slashes 2022 oil demand forecast on China restrictions and global economic challenges (thenationalnews.com)

[Muffybell1]

I think you ment pulling oil down to 45-50 dollars in 2023. https://www.reuters.com/business/energy/azerbaijan-sees-oil-50-per-barrel-2023-budget-finance-ministry-2022-09-15/ https://economictimes.indiatimes.com/markets/commodities/news/oil-may-potentially-fall-to-45-a-barrel-by-2023-end-citi/articleshow/92672571.cms

[raven16]

SweetMuffy, Interesting That You Post Non-Current Storylines From July And Yes Citi Is Short Oil Just Like You Muffy So I Guess Shorting Oil Fits Your Narrative,How About Something A Little More Current Muffy Like This Headline............... https://www.barchart.com/story/news/11023039/the-drain-game-continues

[stocktalk]

lengthy

[canasol46]

This post has been removed in accordance with Community Policy

[tarnoir]

You just simply have to look to the E&Ps performance as 'leading indicators' of where oil is likely to be going. So what oil is @ $85/bbl - likely most of the depression is attributed to a strong US$. TVE, for example, is outperforming oil and other mid-caps. I like the price action here so have added. Winter is coming people and would be surprised to not see oWTI north of $100 come