Let's hope OPEC's meeting today ends oils misfortunesin my opinion, if the OPEC meeting ends favourable (which sources indictate it should), it could spark a real rally in the entire energy sector going into 2018. a couple reputable oil traders i follow expect oil to hit $60 by the end of this week and possibly $70 by the end of december. if we keep getting draws, we have 12-more months of OPEC cuts to work with, which will leave oil in a critical position going into 2019 for supply.
overall oil service sector has been underperforming to oil all year, time for a big catch up.
can't say i am not excited. whether things go south for a few days or weeks, i also can't say, but overall, i am very bullish going into 2018 and will probably add more newalta if still trading in the 0.60-0.80 cent range in a couple weeks.
the horizon is brightening up and we might see the light at the end of the tunnel soon.