Energy XXI

[B-Stealth]

Do you honestly think the Russians and the Turban's are gonna let oil come back up?

[Armand16]

Originally Posted by B-Stealth

Do you honestly think the Russians and the Turban's are gonna let oil come back up?

Why wouldn't Russia want the price of oil to rise?


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[B-Stealth]

Originally Posted by Armand16

Why wouldn't Russia want the price of oil to rise?


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Russia would love higher prices; but I think they will continue to flood the market with record production numbers because they have nothing else going for them.

It sounds like the Turbans might be hurting a little; but I don't think there done bleeding out the competition.

What's your thoughts? I know you do this for a living.

[Armand16]

Originally Posted by B-Stealth

Russia would love higher prices; but I think they will continue to flood the market with record production numbers because they have nothing else going for them.

It sounds like the Turbans might be hurting a little; but I don't think there done bleeding out the competition.

What's your thoughts? I know you do this for a living.

I agree. I think they both understimated the price and time it would take to drive out competition and overestimated Asia demand. I'd like to think they would try to get the most for their limited commidity but I guess when thats all you have theres no other choice.

Looking at fundamentals over technicals, I also agree the oil rally will not last. The oil glut is now being sustained by production outside the US.