Thoughts on OilGreat discussion in the recent posts and a special thanks to Migraine.
I will try to be brief...lol
1.....as I posted before, I expect that we will see WTI in the low 60s sometime in the near future for a whole bunch of reasons including those articulated by Migraine in his last post.
2...based on Point 1, IMO it is better to wait a bit before buying back in or increasing your position for oil stocks. There is still more downside yet to come.
3.... for a number of reasons, those that are interested in buying Canadian and even worse yet, US shale producers, I would be real careful about doing that. IMO the best place to put money in oil companies is those that have low costs of production and low decline rates which by definition are oilsands companies. That statement with the caveat from earlier posts that I don't view SU as a great long term investment unless they start to use their FCF to build out the company away from pure oil production.