Long Position on Silver and Gold?

[roberth]

Oil is up over $50 a bbl, probably winter heating oil is pushing this unless the brilliant state dept did something completely asinine in the mid-east.

[Jamnanc]

OPEC cut production.

[roberth]

OPEC cut production.

So OPEC and the nature-tards must feel that they've "damaged" the US domestic oil extraction enough, now their cartel can go back to work, I wonder what their price point will be.

[Jamnanc]

$65. Just a random figure, but it's also the price point where American production spools back up.

[BladesNBarrels]

In 2008 60 Minutes interviewed the Oil Minister of Saudi Arabia.
He stated that $55/barrel was their break-even point.
There's a target price of some kind.

[Grant H.]

$65. Just a random figure, but it's also the price point where American production spools back up.

Most all of the producers I work with would be spooling back up much harder than current at $65/bbl.

That said, the OPEC production cut has changed the near future pretty remarkably already (1 week). I'm getting swamped with requests for quotes, when we couldn't even get call backs a month ago.

I'm happy with $50, but would LOVE $65/bbl.

[Jamnanc]

Yeah, it's wishful thinking on my part. I only have two bosses at work. When North Dakota is humping, one works up there, so I default back to one boss.

[roberth]

Oil is back under $50 for both WTI and Brent.

Gold and silver are inching back up.

[Irving]

I've noticed my Acorns stock has been plummeting as of late.

[Great-Kazoo]

I've noticed my Acorns stock has been plummeting as of late.

Try different socks