Oil Stocks: Bob Tebbutt Peregrine Financial Group Canada Outlook on Oil
Bob Tebbutt, corporate risk manager, Peregrine Financial Group Canada
Why Oil Went Down
Oil has come down $17 over last two-three months. Come down because international problem with Iran nuclear seemed to be solved..come down because no hurricane..come down because stocks have built up..what we have taken out of the market is perhaps the speculative amount that is $17..just watching market trade, looks a lot better..
Time to Buy Into Rally?
1.3 billion Chinese can't be wrong..they have built 1.5 million cubic meter storage facility for crude oil, building maybe more..for strategic supply..first one completed, haven't put a barrel of oil in it..if they want to buy, I don't want be selling
Venezualan Oil Minister: We Won't Sell <$50
OPEC has said that something needs to be done to steady prices..that's a scary thing because when OPEC wants to steady prices, they can..Venezuala is part of OPEC..they do 30% crude oil production in the world..they can have an impact..it's an interesting comment $50..there is from stirrings from OPEC and Venezuala..perhaps too low..I don't see how oil could be $50
Why Oil Went Down
Oil has come down $17 over last two-three months. Come down because international problem with Iran nuclear seemed to be solved..come down because no hurricane..come down because stocks have built up..what we have taken out of the market is perhaps the speculative amount that is $17..just watching market trade, looks a lot better..
Time to Buy Into Rally?
1.3 billion Chinese can't be wrong..they have built 1.5 million cubic meter storage facility for crude oil, building maybe more..for strategic supply..first one completed, haven't put a barrel of oil in it..if they want to buy, I don't want be selling
Venezualan Oil Minister: We Won't Sell <$50
OPEC has said that something needs to be done to steady prices..that's a scary thing because when OPEC wants to steady prices, they can..Venezuala is part of OPEC..they do 30% crude oil production in the world..they can have an impact..it's an interesting comment $50..there is from stirrings from OPEC and Venezuala..perhaps too low..I don't see how oil could be $50
posted by Spelunca at 6:04 PM
0 Comments:
Post a Comment
<< Home