Whitecap Resources Inc T.WCP

Opec Oil alliance OPEC+ extends collective crude production

[Owlseye1]

https://www.cnbc.com/2024/06/02/opec-oil-alliance-sets-crude-production-quotas-for-2025.html

[barneyj44]

Yes indeed, excellent news. 

[baranja]

It doesn't matter. They can stop producing oil all the way to Zero,.. but the price of oil is rigged in NY and CME via futures market based on washington DC political needs.  It has nothign to do with fundamentals. Unfotunatly, this will continue as long as US have total domination is setting the price of oil with out single drop of oil traded.

[Citizen13]

Not so excellent news, returning barrels to the market is bad news even with a 4 month warning . LOL.  Not sure how they thought that was going to be well received.  Oil down 3 bucks so far. 

[Anschutz]

It's manipulation plain and simple. OPEC is walking a tight rope. They are trying to appease both sides of the US government. Holding steady with rhetoric of an increase is a concession to both parties.  I expect oil will slide lower as market narrative is set to worrying about future production coming online and lowering the price.  Meanwhile production levels will remain the same

[meritmat]

Also the shale boys are losing there shirts at this price 

[Citizen13]

Ugh.  High speed elevator down again today . Hopefully Im wrong .  Then slow broken down escalator up.  What we need to get to $ 15 is a " Roaring Kitty"  for the oil stocks . Maybe call him " Screaming Puzzy.....cat  "   The CDN dollar should plummet if they cut rates tomorrow . Good for WCP.

[baranja]

The CDN dollar should plummet if they cut rates tomorrow . Good for WCP. Making a toilette paper out of Canadian dollar is good for NOBODY.  you will only see prices at the stores go up even more then they are now, while Washington constantly attacking and crashing Canadian energy sector and we lose in any way.  Expensive life and destroyed savings/RRSPs are very bad news. I dont'

[Anschutz]

Canada is completely F'd. Say good bye to social services and start learning how to diagnose and heal your own ailments.  Canadians have no idea what's about to hit them and their personal finances.

[Sclarda2]

Ohh the world is coming to an end any day now.   If you dont like it in Canada they have planes flying to Eritrea, Somalia, North Korea and many other paradises.   Thats where people like you belong.

[Anschutz]

Go pound sand. There are many socialist countries the likes of you can move to... China, North Korea, Cuba, Venezuala, Lao, Algeria, Bangladesh, Afghanistan, etc... or you can just stay in Canada and keep holding your hand out for more 'free' stuff and wondering why it remains empty. With Canada lowering rates today, expect prices to rise further.  Canada's producers pay

[baranja]

There is always, always, always, an azz, that tells you to get out of country if you ever try to criticize anything Canada. Every single time. I am affraid we are entering hyperinflation in Canada. usually, to protect yourself, people invested into commodites, but DC politicians firmlly control and manipulate commodity prices now that there is no way out. The Savings bit by bit  are becoming