Oil Price MEGA THREAD - Yeah baby it's MEGA

[dimi]

https://www.bloomberg.com/news/artic...premium-canada

https://oilprice.com/Energy/Energy-G...m-The-SPR.html

"Emergency" It's exciting watching this slow motion car crash.

[schurchill39]

https://finance.yahoo.com/news/china...103248207.html

China stopping sale of LNG to foreign buyers to "ensure they have adequate supply for themselves" which is likely more of a stand with Russian than anything. I'm pretty sure its something like 7% of Europe's energy comes from imported chinese LNG. If only there were another country who could step in and fill that gap if their government didn't stone wall any attempt to develop a network to export natural resources.

[jutes]

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https://finance.yahoo.com/news/china...103248207.html

China stopping sale of LNG to foreign buyers to "ensure they have adequate supply for themselves" which is likely more of a stand with Russian than anything. I'm pretty sure its something like 7% of Europe's energy comes from imported chinese LNG. If only there were another country who could step in and fill that gap if their government didn't stone wall any attempt to develop a network to export natural resources.

With the amount of natural resources we have, we could go full Kuwait and eliminate taxes and pay people to live in Canada. Too bad we have eco-terrorists and mentally deranged climate activists in charge of this country.

[ZenOps]

G7 imposes $60 price cap. Putin says he will not sell any oil to nations that participate.

Island nations in deep trouble. Sri Lanka, Haiti, UK.

[ExtraSlow]

Not sure where to put this. But do you guys who where the fastest growing economy in the world for the last two years is? Guyana, and it's all dirty oil money baby. Love to see it.

[ExtraSlow]

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“Global oil inventory is at the lowest level since 2004, the Department of Energy has released 200 million barrels of oil from the Strategic Petroleum Reserve this year, OPEC continues to struggle to produce at their stated quota and US producers are helping but can only do so much.”

I hate the writing in this website, but the facts are the facts. Supply constraints seem to be a bigger problem in the next few years than demand.

Although I disagree about the Middle East. There's a lot of new projects planned to get going in the next year.

[killramos]

Oil is dead

[npham]

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Not sure where to put this. But do you guys who where the fastest growing economy in the world for the last two years is? Guyana, and it's all dirty oil money baby. Love to see it.

I worked on these projects and it's not slowing down at all in Guyana. You could easily have a full career just working upstream projects there.

[mr2mike]

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With the amount of natural resources we have, we could go full Kuwait and eliminate taxes and pay people to live in Canada. Too bad we have eco-terrorists and mentally deranged climate activists in charge of this country.

GDP is a Boomer metric.
Woke metering and Hair Likes now.

[ExtraSlow]

I like reading this guy, he's a grumpy bastard, which is probably why I like him.
https://www.oilystuffblog.com/chart-stuff

[ZenOps]

Y'know. Its definitely in Canada's best economic interest to throw in with Putin and not sell to Europe at price cap levels.



I mean for my entire life, the USA has been "Free market this", "Free market that", lets do pure capitalism - charge what its worth! And the second that some Nordic countries are hit with a tiny shortage - its all "oh we should probably make sure they don't lose too much money". Where were all the people when Sri Lanka ran out of fuel?

Is Canada in the business of oil to make friends? Or make money. I don't know if people noticed, but Canadians are in debt too.

A $60 price floor isn't a floor its a bargain basement. $120. Or maybe $60 for the first half million barrels and then market rate for the rest.

[16hypen3sp]

Hoping for a decent bump in oil price. Oil has been in a downtrend since June. I got some oil stocks I need to sell haha.

[Sentry]

Oil not needed apparently, the world will heat itself with good vibes

[ExtraSlow]

Euro heatwave is only thing that matters I hear.

[max_boost]

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That the market dips to 2020 numbers by April of 2023

Looking good so far but I don’t wanna too soon junior yet

Excited for $150lunch

[2Legit2Quit]

Sleepy Joe catching heat for approving a major drilling effort in Alaska yesterday, how the turn tables

https://www.usatoday.com/story/news/...g/11464736002/

[msommers]

Europe is thirsty. At least Biden sees it would be dumb to not meet that demand. JT still sticking to his guns as if he knows how business works.

[max_boost]

Oh ya Biden sleepy joe.

We gonna rid oil and gas but we still need it right now lol yes yes ofc

[suntan]

This is all planned.

USA becomes price setter, democrat admins tell Trudeau that Canada should lead the world in reducing GHG emissions. He's dumber than a sack of shit so of course he does what he's told.

[ExtraSlow]

Canada's oil is the new USA SPR.