VBIN's oil stock thread.

[fenders53]

(01-05-2021, 03:16 PM)vbin Wrote:

(01-05-2021, 02:35 PM)EricL Wrote: Oil jumps 5%, breaks above $50 for the first time since February as Saudi Arabia announces voluntary cuts

LINK

EOG is up over 10%, XOM over 7%, and CVX 4.5% on the news.

Why Soudis cutting? They see demand falling? That's wouldnt be good.

They are probably tired of making money.  They'll sell sand instead.     

It is an interesting turn of events.