vtsnowedin wrote:It would be interesting to know the actual price the Chinese are paying for that Russian oil.
rockdoc123 wrote:Now, the Canadians have room to participate in the markets in ways they may not, if Venezuela could get their heads out of the dirt.
Canada was always the main source for heavy oil with Venezuela as a secondary source. As Venezuela production started to decrease (and that started many years ago without any US intervention) Canadian oil filled the gap. Venezuela's problems were self-inflicted thanks to Chavez and his bus driver mentee.
And now Canada can't take up the slack.
rockdoc123 wrote:And now Canada can't take up the slack.
what "slack" would that be? Refineries are full, storage is full, nobody is buying oil because there is so much of it around and the refineries have lost a lot of the market for their products. Have you been living under a rock?
so much? Not so much, only reason is due to demand destruction from the pandemic.
vtsnowedin wrote:I've noticed traffic picking up a bit. $1.85 gas
vtsnowedin wrote:It would not surprise me a bit to see an unprecedented level of cooperation to balance supply with actual post Covid demand to keep as many of the oil producing countries as possible solvent. They have no better option so it will be participate or starve.
It would not surprise me a bit to see an unprecedented level of cooperation to balance supply with actual post Covid demand to keep as many of the oil-producing countries as possible solvent. They have no better option so it will be participate or starve.
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