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Also what is your take on the slump in the oil? I feel it has to come back again. I live in a heavy oil community and its sad to see all the parked rigs but I have seen this a few times before. Chevron stock is at a 20 year low and I'm trying to diversify my holdings, but I also see a market I think is on sale and has to come back strong as there is nothing to replace it. Should I continue to diversify or hold off and take advantage of what seems to be on "sale". It could go lower but the dividend is descent from what I have understood you to say to get in now and maybe buy more later.[/QUOTE]
I am Not an energy sector expert by any means.. however the thing that causes me pause on the oil market is that it is artificially manipulated by OPEC.
So even though you know that demand is going to go up... (emerging markets in China India Ect..) however what about the supply?
OPEC manipulates the supply routinely to control the prices... Some theories around the recent drop is that OPEC isn't cutting supply (forcing prices to rise) as a way of hurting IRAN or ISIS or even Russia... Who knows... but at the end of the day.. since its artificially manipulated.. its a gamble...
I am staying neutral but will be keeping all of my CVX and XOM
Last edited by XLexusTech; 12-29-2014 at 10:28 AM.
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