Comment by Schussing56on May 05, 2022 8:52am
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Post# 34658021
RE:shorted
RE:shortedYou could be right. Shanghai, the busiest port in the world, is moving very few goods. If it continues much longer there will likely be an effect on the world's economy. Also, OPEC+ just pledged to increase supply. On the hawkish side, the EU is trying for a complete ban on Russian oil. If they succeed, that should drive prices higher. I think, the main area where we don't agree is, all the companies in this ETF are Canadian producers and, no matter what happens in the near term, Canada has been asked to produce an extra 300 K barrels a day to help alleviate pressure on world markets. This should mean big profits for Canadian producers in the near term so, I think this ETF still has some legs. What do others think? GLTA!