Veren Inc T.VRN

Traders may be wrong on oil

[sebastian2]

We see the oil price lately driven by trader sentiment that may be wrong IMO.  Number of short crude positions is the highest since 2011 (when such data started to be tracked) and the demand destruction form China has been potentially overstated (latest growth in chinese exports may support this argument) https://www.aol.com/news/chinas-august-exports-grow-robust-050218959.html.   Overall supply growth from non OPEC may have also been overstated.  Now given the record shorts:I am willing to wait for the pundulum to swing as it seems inevitable at this point :)..https://fingfx.thomsonreuters.com/gfx/editorcharts/WTI-CRUDE-SHORTS/0H001GSBS38N/index.html

[Citizen13]

Let me give everyone advice on certain players . Do not believe a word China, Iran , North Korea , Venezuela or Russia says. Not one word . China says they are actually growing at 4.8% this year . 25% youth unemployment , real estate values tanking , demographics growing old AKA not working . 4.8% growth ???  LOL  I have some swamp land to sell you .  These players lie not unlike

[sebastian2]

Sorry, not that I trust anything from China (I have extensive first hand experience with communist regimes so not an "armchair expert" like some here :), also lived in China for a while) but the whole fixation of the market with what is gong on in China is just dumb.  With growth in India and also in Afrika (everyone needs cheep energy to grow) that wil probably drive demand.