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IliketoPuck · 11-02-2016, 10:09 AM

I think it is more driven by bearish sentiment to the possibility of an OPEC cut. Regardless, it is all near term market churn and arm waving.

It doesn't change the fundamentals of long term supply / demand.

Global demand grows at 1.2MMbl/d/year.

Global supplies decline by ~5%/year (~4-5MMbbl/d).

The capex required to replace those declines, and to grow production to keep up with increasing demand, is not being deployed.

The building blocks for a nice bull market are in place.

11-02-2016, 10:09 AM	#3005
IliketoPuck Franchise Player Join Date: Sep 2009 Location: Calgary Exp:	I think it is more driven by bearish sentiment to the possibility of an OPEC cut. Regardless, it is all near term market churn and arm waving. It doesn't change the fundamentals of long term supply / demand. Global demand grows at 1.2MMbl/d/year. Global supplies decline by ~5%/year (~4-5MMbbl/d). The capex required to replace those declines, and to grow production to keep up with increasing demand, is not being deployed. The building blocks for a nice bull market are in place. __________________ Pylon on the Edmonton Oilers: "I am actually more excited for the Oilers game tomorrow than the Flames game. I am praying for multiple jersey tosses. The Oilers are my new favourite team for all the wrong reasons. I hate them so much I love them."