• 2 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 7 minutes Sources confirm Trump to sign two new Executive orders.
  • 31 mins Is the oil & gas industry on the way out?
  • 7 hours In a Nutshell...
  • 12 hours Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 3 days No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 2 hours COVID is real now
  • 8 hours Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 2 days Where is Alberta, Canada headed?
  • 3 days Putin Paid Militants to Kill US Troops
  • 3 days A Real Reality Check on "Green Hydrogen"
  • 18 hours Why Oil could hit $100
  • 3 days During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 3 days The Coal Industry May Never Recover From The Pandemic
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

Is It Time To Get Back In?

This is getting frustrating. Oil stocks are acting like there’s a bull market in force, or soon to be in force – yet oil is still below $60 a barrel. I know that the market is over skating the puck here, trying to force in a trade that’s not ready yet, that still needs far more percolating before it’s really ripe. But I also know that there is a next oil boom on the tail end of this shale bust that I just cannot and will not be left out of. I’m ready to start to accumulate some choice energy stocks now, even if they are, for the moment, overvalued.

Look, you can’t help but notice some conflicting trends as you’re trying to time this next great trend trade. Projections from the Energy Information Administration (EIA) are still for a sharp rise in US oil production this year. Saudi Arabia is at full throttle production with the hopes of crushing US competition and securing long-term markets. Iran still looks on track to reenter the global marketplace as nuclear deal specifics get worked through. Libya’s 1 million barrels will reappear at some point. And US producers, while cutting capex and working rigs, are still turning what’s left up to 12 (one more than a Spinal Tap 11).

Financially, there’s been a huge influx in speculative positions in both WTI and Brent crude where the long to short ratio is above 6 to 1. That’s been associated with a massive move of money in the last two months into dedicated…




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