I take a different view re OPEC. I think they would be inclined...

I take a different view re OPEC. I think they would be inclined not to cap production at Doha, and thus likely the current oil price is a bit too high, and we are likely to see Feb crude lows again in a couple of months post the passing of the northern driving season etc.

I have sold all oil stocks I have except MRM for now ... Call me sentimental.

IMO only MRM remains a risky but potentially rewarding proposition. They are a good company in a tough industry.

Re MRM it's likely the shorts will have a go one more time at flooring the SP. All IMO only, if you think MRM will survive, look at this shorted event as a buying opportunity, and for gods sake don't sell at the bottom!

None the less I agree with Susan in spirit of not re event timing. The cycle will turn, it has too. Near term oil cycle is worried re inventories, the rubber hits the road each day for those trading day to day. But... In 2 or 3 years time with virtually no one investing in new production and existing depleting, and demand increasing, we are going we are looking at oil shortages and massive oil prices.