GulfSlope Energy Inc (GSPE)

[smith199]

In the spirit of providing timely data, I agree the oil price has been heading North. But suddenly it is taking a siesta down South. However, it is still holding around $80 from the high of $82.41 on Tuesday.

I lost track. Is it 97.9% or 99.7%?

Lol, I’m just envious of your average.

The EIA reported today crude oil inventories fell by 17 million barrels as of the week ending 7/28. Gasoline rose by 2 million barrels. Jet fuel and distillates declined by 1 million barrels.

Link: https://ir.eia.gov/wpsr/overview.pdf

Did you notice the headlines are declaring that OPEC oil production ‘fell’ to its lowest level in three years?

I may not know what I am talking about, but I am going out on a limb and blaming this on the fact that the Saudis intentionally cut their oil production.

But not to worry, being the premier oil producers and profit making entity in the world, they should be fine. Especially since this move should cause crude prices to rise even more in the future.

There are those that advise the Saudis to contribute much of the wealth from their oil earnings towards enabling renewable energy.

To me, these recommendations sound like a justifiable use of the Kingdom’s wealth as long as you are unconcerned about being beheaded.

As far as the GSPE share price goes, the perpetraders appear to be in a hurry to get it lower. Nervous of any news that might pop up most likely.




Mrs. Smith