supply
the main reason I am in oil stocks is due to the low prices
it seems like there is plenty of oil - much is being taken off the market for a while - which could change in time
I haven't checked on demand lately - anyone able to post where that stands, if it is going up - I'll google it
seems like there is capacity for more growth in NA, Saudi Arabia, Russia, and other parts of the world and that production will be ramped up if there are declines from other countries - mabye we could see wti go up another $5 to $10, but I don't necessarily see it go higher - low $70's would work, but likely North American, Saudi and Russion production would go up to keep the price down.
SA would like anohter $10 increase, but they'll play ball with the U.S. and increase production
not sure what to think here - it has been a very long bear market - I am primarily buying due to such low stock prices - if MRO goes up into the mid 20's I'll sell it at a 50% gain and I might try to sell some BTE and WCP with a 50 to 100% move up - not sure if we'll see it or not,
I do think the risk/reward looks good for these now due to such low stock prices if we see oil over $65 wti, which I think is very possible - I'm not seeing $80 wti, but would like $70's wti