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Strategies & Market Trends : John Pitera's Market Laboratory
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To: The Ox who wrote (20061)10/4/2017 2:17:11 PM
From: John Pitera1 Recommendation

Recommended By
Fintas

   of 33421
 
HI Ox,

excellent point you make on Crude being at resistance here in the low $50's..... it's pretty wide spead
knowledge that the frackers are selling all of the forward product they possibly can in all of the contract months that extend out 10 years into future on the term structure of Nymex Crude Strip..... with Brent at a
premium you should be seeing the Majors selling forward production like the end of the world is coming...

So it's going to to see how price action performs over the next 3 weeks.

Capex for future exploration and development by the majors, the E & P companies and the countries such
as Mexico, Venezuela ...Iran... I had a WSj article with 5 or 6 countries that are believed to be running production at full capacity, while not putting money into the maintance of their current extraction equipment,
as well as they as said to have cannibalized their E&P development budgets for several years due to the downturn of the fall of 2015.

Throw in currency considerations that always impact this market and we shall see what exactly is going to
happen as Q4 unfolds.

John
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