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$45 is the Stable Level for Oil
12 september 2016

Reasons oil stabilized: 

  • Russia/OPEC call to limit output will hold this time around. 
  • Supply is falling. 
  • Domestic U.S. output is falling.

Bear phase in oil not over

  • Iran's output is going up
  • Rig count still high
  • $35 - $40 / bbl a more likely bottom

Short: SDRL, ESV

Long: BP, XOM

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$45 is the Stable Level for Oil

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