bynd2009

Kudrin Upbeat on Oil: Good News for Russia ETF?

interesting that you mention FXI is in a bubble pattern. Simple-minded comparison of RSX and FXI shows same trend with FXI being slightly better (it is above water for the last 3 months). That said, I think your logic regarding oil prices makes sense. I don't believe any body with two braincells left is predicting 250$/barrel anytime soon. Main driver for the oil prices appears to be the systematic fall in proven reserves. No matter how much we conserve, if no new tangible discoveries (I don't count BP's Tiber as tangible given the fact that blob of oil is 7 miles below sea level and it will be a technological marvel if they produce 1/10th of that O.O.I.P any time soon) are made, at 80 million barrels/day consumption, prices will have to go up for the already producible oil.