• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 14 minutes Saudi Fund Wants to Take Tesla Private?
  • 18 minutes California Solar Mandate Based on False Facts
  • 3 hours Starvation, horror in Venezuela
  • 3 hours Monsanto hit by $289 Million for cancerous weedkiller
  • 32 mins Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 1 hour Oil prices---Tug of War: Sanctions vs. Trade War
  • 6 hours Why hydrogen economics is does not work
  • 2 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 10 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 10 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 1 hour Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 15 hours What Turkey Sanctions Are Really About
  • 14 hours Saudi Production Cut or Demand Drop?
  • 12 hours Merkel, Putin to discuss Syria, Ukraine, Nord Stream 2
  • 8 hours Saudi Aramco IPO Seems Unlikely
Alt Text

Kuwait Oil Production Hits 18-Month High

Kuwait’s oil ministry said that…

Alt Text

The U.S. Oil Production “Mirage”

The weekly figures from the…

Alt Text

Brazil Reports Record Oil Exports

Brazil’s crude oil exports hit…

Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

Trending Discussions

Inevitable OPEC Failure Provides Opportunity To Buy

No one should be surprised at the outcome of the latest OPEC meeting, which was only hastily scheduled after the disastrous non-event that occurred in April. Still, no matter how many times that OPEC and non-OPEC oil ministers fail to reach any accord on production guidelines, there still exists a hope entering these short meetings and therefore a premium in oil's price that disappears after the inevitable failure occurs.

Every one of these failures and subsequent price drops have proven to be better and better opportunities to selectively buy oil stocks at a relative discount. And that is what I believe is happening again.

I've been completely convinced of the trajectory of oil's price after the bottoming of prices in February, and far less worried about a backtracking of prices that seems to plague nearly every other analyst I read. Most of them are increasingly cautious about the current rise in oil's price, now up more than 85 percent from those February lows. They point to temporary outages from Nigeria and Venezuela as well as the Canadian fires and rollover of production in Iraq and believe that the 'lofty' $50 price we've reached will be a temporary one, with a 'back and fill' movement in oil for the rest of the year. Most of these analysts even have targets for the end of 2017 not much higher than the prices we're seeing now, while in contrast I believe we'll see oil reach above triple digits by the end of next year.

And that is why I continue to…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News