Monday, February 22, 2016

Crude Oil: Production Cut, Venezuela, U.S. Fracking

Not yet. This is not really news, it is publicity. Remember, they have to get everybody to agree, including Venezuela and Venezuela cannot really afford to cut production. And the fracktors in America? Nobody can go to several thousand fracktors and say, "You have to cut production." You just cannot organize it and they will not do it anyway. (Exxon Mobil (XOM), Marathon Oil (MRO), United States Oil Fund LP ETF (USO), ConocoPhillips (COP))

Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.