Article: U.S. Oil Output Exceeds Imports in Major Milestone - 11/13/13
Excerpts from article - Great News For Going Long on ALDW
U.S. crude oil production in October exceeded imports for the first time in nearly two decades, starting a trend
that is likely to continue for the foreseeable future as the country benefits from one of the biggest oil
"I think this is huge and it's another step in this revolution that we're seeing in the energy market," said Phil Flynn, an energy analyst at the Price Futures Group in Chicago.
"We're seeing our reliance on imports of crude fall every day."
ill consider going long after the new year. you do realize that if a deal with Iran goes through, the market is going to get flooded with around 22 million barrels of crude, which will further compress refiner margins.