Post by
Abedim15 on Aug 03, 2022 8:31am
Apparently OPEC agrees to up production by 100k
If true, let's see if they can actually meet the modest increase in production numbers
Comment by
Moemoney42 on Aug 03, 2022 9:42am
They're already 2.4 million B/D below the existing quotas.. this was just more headline / lip service IMHO.. won't mean an iota of effect to the physical markets.. buy the dips.. IMHO
Comment by
Quintessential1 on Aug 03, 2022 5:26pm
Yup. Oh and Nat Gas just spiked again too. GLTA
Comment by
Oldnagger on Aug 03, 2022 5:58pm
The decrease in crude prices, given that OPEC + is now at essentially maximum capacity, is ridiculous to say the least. The demand for crude and its products will continue to grow regardless of everything else. The only obstacle henceforth will be the resultant extremely high pricing !!
Comment by
Moemoney42 on Aug 04, 2022 9:44am
Unfortunenately the latest rout in oil prices is all paper trading based on headlines and speculation.. the physical market tells a different story.. but the "players" are gonna skew reality for the trade.. IMHO The paper market has become too political IMO and can't be trusted for realistic issues.. although it will assist in diverting demand destruction... for now..?
Comment by
Soncard on Aug 04, 2022 10:42am
thanks for the dip...buying prior to earnings!