Sigh
Here's a 13-year chart showing why oil is going lower
http://finance.yahoo.com/blogs/talking- ... 43234.html
Seems our only hope is a bad, bad winter.....and maybe OPEC really hurting......
Here's a 13-year chart showing why oil is going lower
Re: Here's a 13-year chart showing why oil is going lower
Don't forget ISIS moving south toward Iraq's largest oilfields. One thing that has amazed me in all of this is how little is being said about the real threat of the Middle East situation becoming a full blown civil war. The "JV Team" is the real deal.
Over the next few weeks we should see crude oil demand pick up and I think OPEC will announce something at their November meeting.
Keep in mind that North America is the ONLY place on earth with rising production and a lot of that oil production is not "crude oil", but NGLs.
That said, the technical charts do look very bad for oil and a lot of traders base their moves on those charts (until they get burned).
Over the next few weeks we should see crude oil demand pick up and I think OPEC will announce something at their November meeting.
Keep in mind that North America is the ONLY place on earth with rising production and a lot of that oil production is not "crude oil", but NGLs.
That said, the technical charts do look very bad for oil and a lot of traders base their moves on those charts (until they get burned).
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Here's a 13-year chart showing why oil is going lower
http://www.zerohedge.com/news/2014-05-2 ... costs-soar
which companies are especially vulnerable to this scenario?
which companies are especially vulnerable to this scenario?