Has oil finally turned the corner?

It's kind of looking that way, the Saudi's, Russia and others have finally seemed to throw in the towel on the "let the market determine" mantra. It sure seems the smaller producers, Nigeria, Venezuela, et. al. are 110% all in with this idea(finally, I believe). The wild card card seems to be Iran who at least acquiesced to the the freeze on production, they never said anything about holding to that, but at least they acknowledged it.

I think the shale producers were complete idiots coming out and saying any 40$ oil and they'll be churning it out. Why kick the king whos sole purpose was to put your ass out of business in the first place and caused this entire mess.

Ah well anyway, I think the bottom has been hit(then again, I usually jinx stuff when I say this, but I haven't actually bought anything recently : so maybe it's not jinxed). We'll see what happens, 70-75 oil would by the end of the year would be a great thing. Congrats to all who made a killing on the plunge: thumbs;

My personal opinion (and you can probably guess what that's worth) is that it'll take about 3 years for oil to get back to 50 - 60 dollars a barrel. Which frankly is good for most of the country, with the exception of a few oil producing states. But who knows.

" 70-75 oil would by the end of the year would be a great thing." - Being strictly a consumer, I think you are nuts. Those gouging bastards are finally getting a taste of what we, as consumers, have had to swallow at the pump for years. F them.

Whatever the short term outlook, speculation is rising that the world's largest integrated oil company may be preparing to purchase some additional assets within the petroleum industry.

"On Wednesday [2 March], when its executives hold their annual analyst day in New York, you can bet more than one member of the audience will ask when the oil giant is going to take advantage of the damage oil prices have done to exploration and production stocks and swoop in for an acquisition."
Ref: Bloomberg

*DonDiego has no position in oil stocks.
*DonDiego is presently not contemplating taking a position in oil stocks.
*DonDiego is merely a messenger, who bears no responsibility in this matter.

Yesterday I put in my first order for 2 oil related stocks. I've been watching the various threads here on oil for a while and figured that it's a pretty sure bet it's going to rise, at least at some point, so it was as good a time as any to get in. Time will tell how I did.

Saudi Aramco is, of course, owned by the state (royal families). That being said, it has much larger reserves, oil production, and refining output than Exxon. Just sayin. I'm guessing there are other state owned oil companies around the World which are also larger than Exxon.

I'm guessing that oil will stay in the 30's per barrel for the next year or longer. The World economy is soft, and many of the oil producing countries which are promising to tow the production line have a history lying. Since oil is not traded within a free market system, this is a particularly tough one to call. I'm speculating with continued low prices.

Way too many variables that go into oil prices for me to speculate. I never liked investing in oil companies for this reason....the closest I get is to investing in the pipelines because they are supposed to be immune to the actual price of oil. Turns out even that's not true if oil gets low enough. Been taking that one on the chin over the last year.

I'm buying some oil stocks for the trusts my Mothers will set up for her greatgrandchildren. I think it's a long term grand slam. Short term, who knows.

Note that Oil Prices are driven by Supply (High), Demand (Soft), strength of the Dollar (High) and Speculation (The Great Unknown). There is a lot of cash on the sidelines that can prop up prices. There also is a lack of storage space for the current oversupply. Over 50 tankers queued up at Rotterdam. US using rail cars to store crude. It's a mixed bag.

What are some good ideas for long-term (10 years at least) plays on oil prices?