Hi and Good Morning again Mermaids , If anyone has access to Bloomberg it would pay to read " Oil climbs above $45 pb amid US crude output drop " in todays Bloomberg .I will Quote a few oil insiders , Gavin Vie , Senior Equity Analyst Manulife " production is down 600,000 bpd and falling as nobody is spending any money to drill new wells " US output drops are to steepen in the second half and markets may rebalance by then . Bill O'Grady Chief Marketing Strategist at Confilence Investments which manages $3.5 billion US " We are in a bull market , every pull back is a buying opportunity " I wont go on as it is a long article , but the writing is on the wall . Gentlemen start your engines , the race is on ......Cheers
MRM Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
