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Thoughts on the price of oil and oil stocks
Posted on 11/7/17 at 9:55 pm
Posted on 11/7/17 at 9:55 pm
Haven't kept up with the price of oil lately. To be honest I try to not think about it since I've been holding onto a lot of oil company stocks that haven't done anything for several years now. Noticed oil has climbed to $57. What's your opinion on oil stocks in the next 5 years? How high will oil climb?
3
Posted on 11/7/17 at 10:25 pm to Ramblin Wreck
$70.00 on the high end. United States too big of a player, now, coupled with waning control by OPEC, they cannot control supply as they once did. Now, if an all out, all in ME fire fight erupts, anyone's guess
Posted on 11/8/17 at 12:58 am to Ramblin Wreck
The crude market and the companies involved stock will remain sideways for the forseable future, jmho
Not sure who is going to blink first but OPEC and Russia's attempt to prop up prices is working to some degree but it is costing them market share, this is not sustainable for them long term.
Not sure who is going to blink first but OPEC and Russia's attempt to prop up prices is working to some degree but it is costing them market share, this is not sustainable for them long term.
Posted on 11/8/17 at 4:45 am to Ramblin Wreck
You have large oil producers that have unstable countries. Some of those have an uprising you could see the price skyrocket. Oil should trade in the 50-60 range based on current production prices etc. but if battery technology has a major breakthrough or Mr Fusion becomes reality it could fall to peanuts.
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