Veren Inc T.VRN

US Panic to stop OPEC cut

[smallcaptdr]

Looking at the swings in Oil prices so far today looks like an EKG from hell and remember that the ONLY reason OPEC is cutting Oil production is to take out the volatility in Oil prices, what a line of BS. Oil will still have price swings every time some eroding economic data is released or production interruption happens for one reason or another will cause Oil to rise or fall exponentially because taking 2Mil bpd out leaves Oil balancing on a razor blade and the US has been against OPEC cuts from the start made for greed only and nothing else. Oil has been rising for 3 days now and is at $87 up $11 from Sept low of $76 the question is at what price will Oil go to reflect Nov cut? The next FED Rate Decision is Nov 2nd and Dec 14th and when Oil helps to keep Inflation high then the FED will keep raising Rates and around and around we go till the music stops, What OPEC has done will ripple through the global economy the wrong way. I'm wondering how higher Oil will affect G7 cap on Russian Oil and will this cap hurt Oil prices or will Russia turn down the tap? OPEC really screwed things up, but as Oil stock traders it makes us money up until the tree stops growing. Whoever it is who cuts out the most production would hope that Oil goes high enough to increase revenues on less production.


Saudi Arabia, Russia To Cut 1.05 Million Bpd In November | OilPrice.com

The White House Is In A Panic To Stop The OPEC+ Production Cut | OilPrice.com

WTO: Energy Crisis Will Cause A Slowdown In Global Trade Growth | OilPrice.com

[Moemoney42]

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[Barkis]

Not sure you are using the right tools here buddy - but your screeching is very telling. This should never have gone down into the 8's again. Looks like a slow steady climb back to $13. You do realize this company has $10B in tax pools to shelter thier income from the taxman. The $3B/year in profits they will be making going forward will be thiers to do as they wish. Rather than listen to

[BigJoe778]

Honestly I'm not sure where this guy came from and why he's still here. He kind of reminds me of rocketman......literally showed up out of nowhere preaching his own agenda to himself because nobody else is listening or wants him here. Guessing he got run off another bb and that's why he's here. 

[Anschutz]

The potential flaw in your thesis is accepting the belief that OPEC is voluntarily cutting production.  It's well known that OPEC has not been able to meet their stated quotas for some time.  Perhaps OPEC production is truly in decline and the market will soon come to realize that the haydays of middle east oil are in the past.