• 3 minutes The World Economic Forum (WEF) - Davos 2022 Conference held this last week of May
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 1 day "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
  • 11 hours "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 4 days Advancing Fundamental Drilling Science - Geothermal drilling successes offer potential gain for petroleum industry
  • 1 day "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
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

How To Trade The OPEC Deal

OPEC delivered a very substantial production cut on Wednesday in Vienna, and first, I need to take a victory lap: – I was one of the very few (I believe Francisco Blanch of BofA was the only other), who predicted that OPEC would be successful. In my last oilprice premium column, I also gave two stocks to buy to play the meeting, Noble Energy (NBL) and Oasis Resources (OAS), which were up 11% and 28% on Wednesday. I'd call those two pretty good trades.

No time to stand on your laurels – everyone wants to know where I think oil prices and oil stocks to go from here. Here are my thoughts:

I had expected the agreement to come out of Vienna to be substantial, and it was: I assumed that Saudi Arabia would “go it alone” for the full brunt of the necessary 1.2-1.5m barrel a day cut if they had to, but they got a whole lot more from both other OPEC and non-OPEC producers. Despite pessimistic posturing from both Iran and Iraq about being unwilling to accept any limitations, the only complete exemption in Vienna was given to Indonesia. For the Iranians, a full 6 month freeze was agreed to - and using less advantageous independent production numbers. Iraq agreed in essence to similar terms. This marks tremendous concessions by the Shiite members in OPEC, halting below both of their 'golden' production goals of 4m b/d for Iran and 5m b/d for Iraq.

It was a stunning achievement for the Saudis. The OPEC cartel proved it was prematurely thrown into…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News