Quote:
Originally Posted by MooseRiverTrapper
How long till we see $100wti my guess is June. WCS is currently trading near $100cdn.
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https://oilprice.com/oil-price-charts/ WCS. Trading $66.50.
My opinion…
OPEC can’t afford oil price going to high and creating conditions for US production to ramp up.
So they will wait… and when price goes up enough and companies start talking about spending more they will release more production.
Companies right now are stock piling cash or paying down debt or buying up stock rather than putting cash into new drills.
People banking on $100 oil… Is a big gamble.