Quote:
Originally Posted by The Elkster
The idea that the world is flush with oil will end in the next year or two. It looks like oil is firming up for a rise starting the end of this year as fundamentals start to strengthen. With the removal of an estimated trillion dollars from the global oil decline fight. We are going to see a significant rise in prices as we start to lose the never ending fight with natural reservoir declines. Declines that most countries (including OPEC countries) have been fighting for years.
The world is not awash in oil relative to its demand. People are about to learn just how deceiving headlines can be. Invest accordingly.
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It could happen quicker or take longer but this quarter is really the first time i am starting to hear companies say production will be lower over the year. If iraq and iran etc dont add enough to offset the losses the glut could get worked off at some point in time