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Energy Oil & Gas E&P

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015,... see more

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PENN WEST PETROLEUM LTD. > Crude Oil - It's Never Pretty Near The Lows

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Post by makedonka on May 08, 2017 10:48am

Crude Oil - It's Never Pretty Near The Lows

"I believe that the price will quickly snap back, like it did last Friday, as the OPEC meeting approaches or another world event brings buying back to the market. Meanwhile, the last time oil declined to an oversold condition on the daily chart was in late March when it fell to 2017 low. The technical picture for oil is telling us that although it is making a lower low, the odds favor a move back towards the $50 level."

https://seekingalpha.com/article/4069920-crude-oil-never-pretty-near-lows?app=1&isDirectRoadblock=false