Buy GDX by Apr 5, 2026.

Seeing a lot of hype around the impact of Venezuelan oil on oil markets and U.S. gulf coast refiners. I think folks need to temper down expectations. Re-routing Venezuela’s 900k bpd from China to U.S. gulf coast refiners is simply a trade shuffle and won’t result in any supply/demand changes for a long time. China will simply buy barrels elsewhere but without the the steep discount they get from Venezuela. Even optimistic estimates regarding Venezuela production increases put any additional …