Thursday, December 1, 2016
The OPEC Cut: What's Ahead For Oil?
The OPEC cut announcement is not surprising to me but the key is to wait and see if they really do it. OPEC has made these kind of announcements for decades. Most have not really worked but this one is making crude oil go up and it will probably continue to do so. But what really matter is that crude oil fundamentals are continuing to improve. (Nymex Crude Oil futures, Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO), Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP))