03-13-2020, 01:20 PM
(03-13-2020, 12:53 PM)fenders53 Wrote:If trump really wants. He can do the same he did with China. Just put tarriffs on oil and boom overnight oil prices go to $50. U.s.a hardly has 20-30% oil surplus.(03-13-2020, 12:17 PM)vbin Wrote: @fenders53 I haven't touched my oil other than what I bought last week. Oil will go up, $20 ain't sustainable, the question is 6months, 1 year or 2 years. Like u said, low oil prices kill low oil prices.You are correct, $20 oil is definitely not sustainable. We need sustainable $50 oil. How is the gonna happen with your Corona/recession thesis? Majors were dropping like a rock well south of 50 a barrel. I no longer see a path. Only good for trading and a small gambling position. Admitting I made a mistake early enough is usually good for my portfolio's health. Had I bought a major at this weeks prices, all would be well, but I missed by months along with most every active poster here. I'm pretty confident in that statement.
I don't think he is going to do that yet becouse cheap oil helps with economy. For short term there is pain but I am not convinced to take a loss on oil majors. This is going to rebound one or the other way.