VBIN's oil stock thread.

[fenders53]

(02-04-2021, 05:07 PM)vbin Wrote:

(02-04-2021, 04:17 PM)fenders53 Wrote:

(02-04-2021, 03:57 PM)vbin Wrote:

(02-03-2021, 09:13 AM)EricL Wrote: The last time exploration budgets were this low was '05/'06, which precluded the price spike to $140 in 2008.

And the 2021 budgets are even lower than what's shown because they've been cut more in recent quarters.

Thank you for sharing this Eric. Fenders this is a cyclical commodity, and we are at the bottom or near bottom. Guess what's next int eh cycle?

The bottom was negative something.  I'm not certain where we are TBH. Good luck.

That was an market anomaly.

Yes, and so is $100 oil over the past 50 years.  I stand firmly behind my previous statement that I really don't know where oil prices are going.  I've been careful to label my near-term targets as guesses because that is exactly what they are.