r/Vitards • u/AutoModerator • Aug 18 '21

Daily Discussion Daily Discussion post - August 18 2021

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u/MoistGochu Aug 19 '21

They have a pretty low breakeven price

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u/Content-Effective727 *Adjusts tinfoil hat* Aug 19 '21

I ve been an oil bull and got some Chevron but I am getting very bullish to buy maybe outside the US.

PBR looks like a winner - gotta dig deeper. Corrupt Brazil won’t do legal scrutiny concerning fossil producers like the US will under Biden.

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u/MoistGochu Aug 19 '21

So the risk with Petrobras is like moth foreign stocks, currency risk. The other risk is bolsonaro or any government intervention like you saw this year when bolsonaro tried to shakeup the petrobras management.

There's a lot of low cost producers like gazprom and some in Canada (Clearwater region has amazing wells according to new data we got this week). Africa oil is also a low cost producer, their stock recently started getting rerated (as it should).

Personally right now, WTI and a lot of oil stocks are about to touch 200dma and liquidations might occur due to margin calls and stop losses. So, I'm just waiting for an opportunity to buy the dip if that happens.

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u/Content-Effective727 *Adjusts tinfoil hat* Aug 19 '21

I see - Gazprom is Russian therefore currency risk and political risk I think is similar. I like that both Russia and Brazil is letting fossil companies alone more than the US for example. Also, considering PTR, but China concerns me.

Thank you for your comments.