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No. of Recommendations: 9
I have invested in the oil business since about age 17 when I had a summer job working for a major oil company. Now 60 years later I have learned one thing. Nobody can consistently predict future oil prices. If they get it right it's probably luck. CEO of big oil companies with vast talent available to study this issue also do poorly (at least if their public statements are to be believed).
Oil prices are cyclical. When oil is so highly priced even ancient stripper wells are profitable, time to consider selling. When oil is so low priced that wells in the latest "hot" areas are non profitable, time to consider some buying. Today's prices are neither extreme, so I'm not a seller, not a buyer, but a watcher.
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