$OXY As I see good data (not CNBC media FUD) on oil futures, gasoline consumption, big box retailing data, rig counts and well shut ins it becomes clear to me that the popular picture of demand destruction was overstated. As a result, so much production has been taken offline (perhaps permanently as some wells and rigs likely won't produce again) we'll have a supply shock that is going to send oil surging. I think you're going to see hundreds of small service businesses and producers driven under. Then the big guys (like OXY) will emerge with a windfall thanks to skyrocketing oil prices. This narrative is just starting to come though - but firms like Goldman Sachs have already set an oil price target of $65 later this year.
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