VBIN's oil stock thread.

[fenders53]

(06-30-2021, 10:57 AM)EricL Wrote:

(06-30-2021, 10:55 AM)fenders53 Wrote:

(06-30-2021, 10:49 AM)EricL Wrote: More strong crude draws in this morning's report.

Saw an interesting tweet regarding it.

When is OPEC meeting?  If they only increase production a little oil is going to run some more soon.  (Short of a real bad Delta Covid spike).

I believe the meeting is tomorrow.

Should be interesting.  I believe they learned a lesson last year.  They are going to want to fill some demand without crushing the oil price trend.  In the end nations are going to ask them to keep oil from crashing economies trying to reopen.  It's a game but it seems more under control now.  We'll see.