OPEC Meeting

Same thing happens every few months.

But, will demand increase?

MRO up around $18. bought in right under $7.

Me too

Also bought cop at $35 and WLL at $6. Making bank this morning.

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MRO up around $18. bought in right under $7.

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You putting any stop losses in place if so what is your target for these?

The stop loss for any of those oil companies listed above should be based on oil price. These companies move hand-in-hand with the price of oil so the time to move out would be around the $(75-80)/bbl on the WTI. For the time being, just let it ride. Don't even look at it on a week-to-week basis.

Same here. I've been all in since 1 1/2 yrs ago. Just now starting to reap the benefits but what a lot of people don't understand that aren't in the industry is that this is just the tip of the iceberg for rebounds. Don't read the articles that come out on a day to day basis. It's simple business logic. All budgets are agreed upon at the end of the calendar year. If oil prices are down, CAPEX will be limited which means less supply for the next 2-5 years. Remember, this all SHOULD be supply and demand driven but it seems like this market is moving on headlines as of recently.

If you're talking from an OPEC side, yes. All other oil companies (non-OPEC affiliated) produce the maximum amount of oil possible. To SI a capable producing well due to oil prices is a business model I've never heard of... That's like saying you stop flying airplanes until people decide to pay more to fly. Market share is only a major deciding point for the OPEC guys. The only way a company would do that is if they are unwilling to allocate the funds for a workover, then bring the well back online.

My company's stock went up 44% today. Seems logical

Market is lil' jumpy as usual, it's like they don't read any details.

The deal will go through if non-OPEC (Russia) agree on a cut next week at their meeting.

But OPEC is making a cut on an all-time high rate of production. So in reality they are just pretty much cutting back to what they were producing earlier this year, and that was a lot.

Overall the price will go back up when stockpiles still don't decline in large amounts. They are declining but slowly. Only lost ~900,000 bbls of stored oil last week. This deal is just to save face, but may have a slight affect on the market next year as demand rises.