phillips49

Barron's Banks on $100 Oil

Let me see if I got this right. The Saudis are increasing world oil availablity by 0.24% (200,000/83,000,000) ( if production doesn't fall of somewhere else like PEMEX or Nigeria) and the price of oil is going to fall by 24%? (32/132). I think I'll stay long on the oil and gas companies. They are going to continue the upward trend interrupted occassionally by hot news flashes that we are awash in oil and everything is OK.