Talking heads on oil futuresIts been said again and again by many leading experts..including the Saudis,that they are comfortable with oil between $50-60 bbl.its the Saudis and OPEC that call the shots..not the US shale ...despite what the American propaganda says.
Want proof?Think back when the Saudis said they would no longer act as the swing producer...oil crashed to mid $25...fast forward a couple years(to now) and they say they will limit production and voila! oil almost hits $60.If the Saudis wanted to ..they could crush US shale like a cockroach..and the Americans ego along with it LOL.
People have very short memories..including some of you lads here...It wasnt long ago that oilco's were trading at decent levels....say like a week ago ??
So I say this ...worry not about today...worry more about what your going to do with your oilco's when oil hits $55-60bbl...and it will.
Sell SPE then?..or wait untill oil goes back down again...and go through all this BS again.Its your choice but long term oil is fine...(yrs)..but short term (months)...what you see is what you get.