Oil21 May 2018 10:52
Oops, forgot this one, goodness knows how!
Everyone is calling for silly levels including many on these types of forums. Apparently POO is going to the moon, yawn!
Hmmm. Err, no! Oil has had an incredible run past 2months in particular. However, v surprised at how many seem to be quoting POO and where it's 'supposedly' going in order to ramp their shares. ..Or maybe Im not surprised abt the latter.
Oil is due a p/b like any other instrument and is currently v over-bought Indeed with e'one calling for it higher esp the media, we know what is abt to happen quite soon....As said last year, we are looking for oil to hit highs In Summer and oil is almost there but it will then consolidate and not fly to $150 and other stupid levels currently being quoted....
Also, for those quoting POO, when a share is not even yet a producer, Im not quite sure what relevance today's levels have?? Surely the POO at the time any given company becomes a producer is more relevant?
Was amusing to read some bbs last week when Brent broke $80 and then read the same bbs the next day ever since when POO has retraced...........!
Nothing goes up in a straight line....blah blah blah....