Homepage
PR Newswire
03-10-2014, 10:58 AM
Just a reminder that lots of rig are coming off contract in the next 2 yrs and also lots more will be delivered. So if oil price remain that low, I guess something got to give in?
I think oil long rally is coming to an end and its going to be very painful to remain in this sector. With Dollar strength more commodities related speculator are all going to be on the sell option - meaning more weakness.
Think of it this way - if Europe is going to freeze without Russian gas, why isnt oil higher, and why with so much chaos in middle east Saudi is selling oil on the cheap?
Never wrong to sell long term position if the market start to wobble in uncertainty, cause better condition might flood market with even more oil depressing the entire sector!
I think oil long rally is coming to an end and its going to be very painful to remain in this sector. With Dollar strength more commodities related speculator are all going to be on the sell option - meaning more weakness.
Think of it this way - if Europe is going to freeze without Russian gas, why isnt oil higher, and why with so much chaos in middle east Saudi is selling oil on the cheap?
Never wrong to sell long term position if the market start to wobble in uncertainty, cause better condition might flood market with even more oil depressing the entire sector!