TRUMP MAY SUCCEED, SHOULD YOU BUY OR SELL OIL STOCKS? $USO $XLE $UCO $OIH $XOP $CLQ8 $RDS.B $FCG $SLB $CVX $XOM $BHGE $OAS $XES $UWT $DWT $RSX $KSA $GULF
President Trump has said gasoline prices are too high. He asked Saudi Arabia to increase its oil output by two million barrels. People who understand the industry immediately said there was no way the Saudis would raise its output because that would lower prices and profits.
Now the news is that Saudi Arabia is offering extra oil to some Asian customers. You don’t have to be a genius to infer that Saudi Arabia is indirectly complying with Trump’s request. In addition, with some help from Russia, Trump may succeed at lowering gasoline prices. Let’s examine the issue with a chart.
Chart
Please click here for a chart of oil ETF USO.… Please click here or the title below to read more.
July 16, 2018