GREY:LSTMF - Post by User
Comment by
whitehorn1on Nov 23, 2015 1:47am
84 Views
Post# 24314932
RE:RE:RE:OPEC has to do something very soon, we don't agree with SA
RE:RE:RE:OPEC has to do something very soon, we don't agree with SAtvstock, agree with your comments. That said, I'm a strong believer if oil stays around 40 dollars for the next 6 months will be very beneficial to the overall industry. It will force companies to curtail projects and operations, causing a very noticeable decline in production worldwide. You have to get rid of the 3 billion glut of oil some how, and need daily production to be below demand, then "eat" away at the glut. More pain is needed going forward, or this could be a long stagnant oil cycle that stays at low levels for many years with "almost" no one making any money, such as today. Many experts say 6 more months at these low levels - is what the doctor ordered in the oil sector.