I learned yesterday that the Biden Administration has approved more federal land drilling permits than any other administration since George Bush. This screams that Uncle Joe ain't down on oil, but in public he'll denounce the industry to appease his base.
OPEC+ is working together to keep supply tight. There was drama at the last OPEC+ meeting where the UAE refused to increase output. Keep supply tight and the price stays high, makes perfect sense. After the oil price wars of 2020, I think the OPEC+ group is ready to work together to make some bank. Nobody wants to repeat free oil. I think this'll keep oil elevated for an extended period. I believe Brent will run between $75-100 for the next 12-36 months. This is going to bring our frackers in the limelight once again.
USWS is ready to run. If you look at this daily chart, it looks a lot like oil did a few months back. Almost like oil on a lag...
Because Biden is quietly pro oil, I don't think Brent will go to ATH's. So I sold off the shares I had in FANG and decided to start a position in the off-shoots of the industry. The current pricing of USWS allows for natural leverage. This is a trade that I'll likely have to sit on for a bit, but when the tide comes in, the price will elevate quickly.
OPEC+ is working together to keep supply tight. There was drama at the last OPEC+ meeting where the UAE refused to increase output. Keep supply tight and the price stays high, makes perfect sense. After the oil price wars of 2020, I think the OPEC+ group is ready to work together to make some bank. Nobody wants to repeat free oil. I think this'll keep oil elevated for an extended period. I believe Brent will run between $75-100 for the next 12-36 months. This is going to bring our frackers in the limelight once again.
USWS is ready to run. If you look at this daily chart, it looks a lot like oil did a few months back. Almost like oil on a lag...
Because Biden is quietly pro oil, I don't think Brent will go to ATH's. So I sold off the shares I had in FANG and decided to start a position in the off-shoots of the industry. The current pricing of USWS allows for natural leverage. This is a trade that I'll likely have to sit on for a bit, but when the tide comes in, the price will elevate quickly.