• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 58 mins America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
  • 35 mins Saudi Arabia Can't Endure $30 Oil For Long
  • 8 mins Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 2 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 20 mins KSA taking Missiles from ?
  • 6 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off
  • 6 hours Where's the storage?
  • 48 mins Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 2 hours China extracts record amount of natural gas from Gas Hydrates in South China Sea
  • 3 hours Wait till America opens their Q1 401k Investment Statements and see they have lost 35% of their retirement savings. They can blame the Authoritarian Chinese Communist Party..
  • 4 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 7 hours Hillary Clinton tweeted a sick Covid joke just to attack Trump
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

Why You Shouldn’t Fear Another Drop In Oil Prices

Now is another in a line of critical moments in oil pricing – and an equally critical moment in establishing your long-term energy portfolio. We’re currently getting the rebound downwards reaction to the nonsensical proposals of production ‘freezes’ from the Saudis and Russians, along with a naturally bearish response to the upcoming OPEC meeting on April 17th.

If you’ve been following me and my advice, you’ve been accumulating a core long-term portfolio of ‘survivor’ shale players and the odd major, and you’re mostly free from investments in refiners, oil services and offshore. All of the medium-term plays that we used to capitalize on the rally in oil prices from the low 30’s to just above $40 have been cashed to good effect in Devon (DVN), Hess (HES) and Pioneer Natural Resources (PXD).

Another OPEC meeting is pushing oil prices and the prices of oil stocks lower, as they have the previous two times that OPEC met. It is clear that the market’s expectations remain for no new curbs on production. Even the idea of a freeze of Saudi and Russian production was always fairly toothless, as both are at or very near their production limits now, in my view.

But I have said that I believe the oil bottom is in for the long haul, even if the trajectory of oil doesn’t get noticeably constructive for another 4-10 months. That means that I also believe that any drop of oil prices nearer to the downside…




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