That's for sure, they make it the way they want oil prices at...
But why do they keep paying the storage costs for barges or others if they aren't expecting price rises? Then CNBC said a week ago that a few rigs actually started new drills.
Iran was taking to market at $20-30/bbl illegally (international law) anyway mainly to China. Refiners/pipelines were getting deep discounts on WTI below market in order to find a place for their oil over others in the pipeline from West Texas and Eagleford... then both opened new pipelines bringing a flood onto the refinery market (and now Iran to internal legal).
So they were used to paying cheap for some oil anyway... I'm sure it only came down for Ukraine vs Russia conflict.
Here's another nonsense from them fact, they said oil had to be above 80/bbl to do Candian sands, yet they keep producing and wanted to dump on our refineries (and it is equal to manmade oil and not natural because of all the chemicals they use to extract and treat the sands with)...
Do you realize though one day they will be tens of millions of barrels short of demand out of nowhere?
I know a year + ago I found world oil production/demand at 94/93 million barrels per day. But when I Googled this weekend it was 75 at one site and the other site was missing from frontpage results which was operated by OPEC I thought...
Windturbines are putting a dent in Natural Gas prices too, aye?
Owning shares or partnership units is not an endorsement of management to break the Sabbaths or to do any other unGodliness. I do not share in their sin or guilt and they mislead others on their own accord. I have no major stakes to influence any company.
