Sentiment among investors is poor at the moment. The maturity of...

Sentiment among investors is poor at the moment.
The maturity of US Shale bringing on supply is not what it used to be, Chris Wright from Liberty will ensure the pricing mechanism will remain high and limit supply, that's in the interest of the industry which is why Trump chose him. WDS would have for sure been whispered too months ago and hence made the plays they did within the US.
Its break even for most if not all oilers within the US at $70 pb. Most tier one inventory has been burnt through, most wells are at maturity but the media does not tell you that, it's why he wants to kick the crap out of Iran. Trump means less Iranian exports, it's as simple as that, nothing more.
The Saudis need an estimated $1.2 T spent on maintenance for infrastructure and THEY DONT HAVE THE MONEY.
The US can not meet the fillip, so it has to come from somewhere. Brazil is a basket case, Canada and the sands story can ramp up as the Gov there unlike here is pragmatic at best but encouraging. As for 3 m million barrels of oil, its rubbish, its 3 million barrels of equivalent including natural gas...that is the corrected statement...big difference, hence Opec leaving supplies as is. Halt on new approvals will probably be lifted, but that costs money which the oilers dont have. Look at some of the "cash on hand" in balance sheets, they are freely available.
WDS has a lot of cash on hand, it's a credit to good management.
14 B`s to about 26 B`s by the end of the decade Chris Wright envisages but that is still a tall ask, so the American firms will go on a buying spree, because it is more cost effective.
US shale will be ineffective in maintaining demand.
IEA numbers are completely untrusting subject to OECD, satellite pictures are a better indication on supply at hand, hence draw down levels at their lowest since 2017, 205 M net barrels US stretegic political reserve being released is indicative of that.
China is 900,000 to 1 M, will rise by 700,000 Bpd according to my mate who trades with Vitol subject to his orders going forward. An outliner Spain & Italy demand is up 3.5% which was a surprise.
What he reminded me was to look forward for a guidance, look at "inventory levels"...so I did and they are at their lowest in history. So when you look at inventories to demand you get something called days of supply, so how much storage do we have to the increase of demand, and when you average a cost base then oil should trade at around $82 Brent with a full unwinding of Opec cuts, and that's if that even happens.
Chris Wright hates renewables apart from Nuclear.
Renewables is a complete lie based on mathematics alone, in the US alone there are only 92 reactors when requirement going forward they will need 126 nuclear reactors, NOT GOING TO HAPPEN within the 25 year guideline with a lead time of 10 years for build mandated by the Senate.
115,000 wind turbines to satisfy demand, Solar, you have to build 4.8 Million acres which is the size of South East QLD greater area, maybe a bit more...
So it's natural gas which will be gas load as a base....so their oil peak is the end of next year and LNG possibly by end of decade.
By 10 years from now 500 million people around the world will become more urbanised than they are today, so there goes the ghost cities of China filled let alone anywhere else.
I really could go on & on....but that's my take on things and why I bought in today and why I will average down until I get my trade im happy with....
WDS is cheap and you buy & average down when sentiment is at its worst and there is blood on the floor.....of course this is not financial advice blah blah blah.....