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yazzooClay t1_iy3tsdb wrote

Remember chevron just got the go ahead to open Venezuela back up. So that’s going to be a huge influx of oil. So opec may not have the incentive to cut. I think everything is going to slow down for a second, until spring at least.

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Ancient_Implement_30 t1_iy4syi6 wrote

It will be an influx. But relatively small on a global scale.

Oil is already down from $120 to $76. Huge pull back. While oil stocks are still behaving as if oil is at 120

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The_Magnificent_007 OP t1_iy44eh7 wrote

I wasn't aware of this news, but you're right, with such opening Oil will drop way down, already some speculations about being traded around 65'sh .. so we are in for some good news I guess

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DomighedduArrossi t1_iy41yck wrote

Yes, I concur on your timeline prediction. This is good time to land a job with CVX, hopefully HR calls soon 🤞🏼

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