Paragon Offshore plc (fka PGNPQ)

[gta3uzi]

Weekly predictions?

This isn't a weekly stock. The next major price catalysts will be the Spring/Summer refining season's effect on oil reserves. Currently we're oversupplying the market by about 3.5%, and are only oversupplied by about three days' worth of oil. Add in that we've cut 50% of the land-based oil rigs since last year and I can't see how anyone could say the "glut" is going to be anything more than a temporary condition.

If the US were to allow exports this situation could be quickly remedied. The current glut is roughly a day's worth of oil on the open market.