VBIN's oil stock thread.

[fenders53]

(11-22-2020, 12:48 PM)vbin Wrote: India announces to double oil refining capacity in next 5 years which is a much more aggressive than previous plan. Chinese set to eclipse america and become #1 oil refiner in world.

2 largest pop nations still investing in oil capacity. Oil is here to stay. Only question still remain if post-covid companies can ramp up production with increased demand and again start pushing oil prices down sooner than expected.

 And what WILL they do in any case?  Makes a world of difference if OPEC pumps at 80% capacity or 100% for months on end coming out of the pandemic.  I am pretty sure they aren't interested in oil at $20 again, but there is strategy involved in this, ALWAYS.  They'd probably prefer oil a dollar under the price that encourages new fracking.  Biden's words don't scare me so much yet.  He can make more restrictive rules that don't really alter total US output so much.  That is what I expect actually. If there is one thing I am sure of, it's that politicians put considerable effort into policies that don't turn out quite like they intended, or pretend to intend.

It will be interesting to look back on this thread in 2022.