Replies to post #9191 on The Rising Influence of Rising Affluence

[DewDiligence]

Yes—I bought HES in two accounts today.

[mr_o]

I think the brunt of it is over but i'm not sure now is the time to buy. There has been a short-mid term fundamental shift in the oil markets. Heres a Bloomberg summary of what some analysts have said today.
OPEC REACTION WRAP



OPEC REACTION WRAP: SocGen, Barclays, BofA, Nomura See Lower Oil


By Stephen Voss
Nov. 28 (Bloomberg) -- More analysts predict lower prices
in wake of OPEC’s decision yday.
* SocGen: OPEC meeting to lead to Brent at ~$70/bbl for 2 yrs
* Barclays: Brent crude to fall below $70 in short term
* Citi: oversupply to rise to 1.3m b/d amid OPEC inaction
* RBC: oil turbulence seen over next few mos amid rebalancing
* Nomura: oil to fall to $60s as OPEC slows U.S. shale growth
* OCBC: religous adherence to quota suggests 1m b/d supply cut
* BofAML: Brent crude may fall below $60 in next 6 mos
* Credit Suisse: Brent to build base in $71.75-$67.87 area
* Deutsche Bank: mkt seen in crisis in 1H as OPEC stands pat
* Russian President Putin: sees oil mkt stabilizing in 1H
* Bloomberg’s Leung: WTI may hit floor at $60.17 on OPEC move
* Bloomberg’s Lee: slump will undermine OPEC quota compliance

I highlighted the one I agree with most.

[jbog]

oldberkeley,

I've asked many times why anyone would be interested in getting into this area at this time? No one has ever answered but in my view I'd certainly let the chips fall where they might.

At least I'd let this quarterly earnings period expire because you know the headlines are going to be ugly in comparison.