RoyPope
12 posts
msg #122705
- Ignore RoyPope |
1/31/2015 1:07:36 AM
I always keep at least four oil related stocks in my portfolio at any given time. As such, I keep my ear to the tracks for news relating to oil.
From what I understand, it costs about $50US to produce a barrel of oil via fracking. The heads of OPEC know this and have turned up their output of oil into the world markets in order to drive the prices of oil down below fracking costs with the intention of forcing frackers to abandon their efforts. Eventually, the frackers will have no financial choice but to surrender to OPEC's will, after which OPEC will turn the volume of oil output back down.
I'm sure everyone knows what's gonna happen when OPEC reduces oil output... oil prices will suffer a whipshaw and most likely rocket to prices above what they were prior to OPEC's attack on the frackers.
Not everyone is "crying" about the poor Crude oil/Petroleum Sector. I know I'm not. I've been taking advantage of the extremely low prices to stockpile shares while I can. Once OPEC does it's thing and oil prices begin their quick increase, all folks like me will be doing is grinning from ear to ear.
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fotchstecker
304 posts
msg #122940
- Ignore fotchstecker |
2/25/2015 8:25:20 PM
RoyPope, I'm curious about what oil tickers you have. Thanks.
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mahkoh
1,065 posts
msg #122952
- Ignore mahkoh |
2/26/2015 2:03:57 PM
I thought I was being led to believe that this was all about Russia?
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karennma
8,057 posts
msg #122958
- Ignore karennma |
2/26/2015 4:12:12 PM
I heard a radio interview where some "expert" (forgot his name) said oil prices were NOT going back up because "fracking" our own oil, was a game-changer as it relates to Russia.
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