Absolutely this. Last week there were some O&G companies contemplating firing up some idle wells due to the possibility of oil deliveries being disrupted in the Straight of Hormuz and the resulting price spikes. When it seemed clear that there would be any disruptions, the price of crude fell and those wells remained idle.
There is plenty of excess capacity...its just sitting there waiting for the price of O&G to make it worthwhile.
Thiago is a scammer. And not even a smart one. It's all 100% clear.
Oil and gas? Absolutely stupid idea due to the extreme volatility!
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