Oil priceLong-term lurker, first time poster here.
Oil is down a buck on news that Angola is leaving OPEC. The thought, apparently, is that freed from OPEC constraints they will pump like crazy, adding supply and depressing the price. A closer look shows that they have not even met their pumping quota in the past year; they are unable to pump more at present, so this knee jerk price drop is unlikely (in my opinion) to last. I had noticed that oil was near the bottom of its trading range for the past year, as was Cardinal stock, so I doubled my position on Tuesday morning; I won't be adding more as I now have enough for myself. Merry Christmas to all.