621 mil barrels.........we should reach max capacity within the next 2 months
This is why we started exporting oil again.........to get rid of the reserves to create capacity.
But Price war between Saudi and Iran will lower the price from current levels
I expect USO to bottom between $5 and $6.........within the next 3 months
If you short now is the time......:)
I would to say screw the Middle East on buying oil
US should pump its own Oil..........and set our own price per barrel.
Why let the Middle control the price........this is self inflicted by our politicians against the public of this US.
I expect a bottom of $21 to $22
USO bottom between $5 to $6
Iran oil hitting market soon
Saudi changing production level
Price war between Iran and Saudi
If Saudi give up production to Iran cheap oil........not good.......I don't see them doing that.
I am going to call bottom at $21 to $22
The Iran Oil has not entered market yet
This Bounce was just because of East Coast Snow Storm......false bounce.
I am 95% in cash and 5% in energy ETF
I have a Buy Order Limit Price on USO between $5.00 and $6.00