Qatar Oil Minister: Output Cut Range From 1 Million To 3 Millions Barrels Per Day 2 hours, 35 minutes ago (RTTNews) - Qatar Oil Minister: Output Cut Range From 1 Million To 3 Millions Barrels Per Day --
One billionaire in particular, purchased oil stocks several years ago when oil was trading for $20 a barrel.
But back in May, when oil was at $129 per barrel and rising, he did something that shocked his followers: He sold off all the energy stocks he owned.
He banked a fortune.
Now he's making another bold move:
He's betting on oil again.
A few weeks ago, when the price of oil reached a low near $90 per barrel, he decided to jump back in.
"I reinvested back in the oil business, and it's worked out really well for me," he said.
I made a big bet on the sector.
I bought a lot of stocks back."
Right now there's a feeding frenzy over beaten-down oil and gas stocks - and we've identified a group of investors making a killing by picking up super BQI bargain in the energy sector.
Profitably yours, Oilsands Quest's Strategically Located Oil Sands Land Holdings -
Fortunate - Canadian oil sand equals U.S., Russia, and UAE COMBINED! -
BQI - has the largest land holdings of all - and with only a small % drilled billions of brls. massive discoveries made - black gold with grit bargain -
I don't know about the motives of the person writing that report, but conventional wisdom is that there are enough reserves to produce oil at current rates for decades.
- that's maybee if you want to give the Saudis all US $$$$$$'zillionz -
Refinery capacity is the current limiting factor accounting for why production dropped slightly in the last 12 mths.