(10-02-2021, 02:24 PM)fenders53 Wrote:The full re-opening still haven't happened and we are already hearing about shortages.(10-02-2021, 01:57 PM)bankerboy Wrote: Agree. Will keep it a bit longer then say goodbye....
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I am going to lose my shares to covered calls but I will watch for an entry this winter. I am pretty confident demand will be very strong next summer. I am pretty confident OPEC+ is capable of adding to supply. Can they pump enough if the US producers remain conservative? There is no oil shortage but there could be a production shortage. Too many institutions that can't invest due to ESG so it has to be more than good for oil companys prices to run vs oil prices.
What is long term? 20 years from now we will still be talking oil and it's dependency. It has no viable alternative yet.