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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Thursday, January 28, 2016

The OPEC Put – Oil Prices have a Floor

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Over the last year, Saudi Arabia has stalwartly guided OPEC’s steady oil production. But as the price of crude breached $30 over recent weeks, significant cracks began to develop in the cartel. It appears that as result of recent comments and actions of important OPEC members, investors are gaining confidence that OPEC has a downside limit. As a result, so do oil prices, even when faced with disappointing data. Thus we have the OPEC put, setting a floor for the price of oil. See the full report The OPEC Put - Sets a Floor for Oil Prices.

Oil Relative Security
2 Days Ended 01/27/16
SPDR S&P 500 (NYSE: SPY)
+0.3%
United States Oil (NYSE: USO)
+7.5%
iPath S&P GSCI Crude Oil (NYSE: OIL)
+6.2%
ProShares Ultra Bloomberg Crude Oil (NYSE: UCO)
+15.2%
Energy Select Sector SPDR (NYSE: XLE)
+3.3%
SPDR S&P Oil & Gas E&P (NYSE: XOP)
+7.0%
Market Vectors Oil Services (NYSE: OIH)
+3.8%
Exxon Mobil (NYSE: XOM)
+1.8%
Chevron (NYSE: CVX)
+3.0%
Occidental Petroleum (NYSE: OXY)
+3.8%
ConocoPhillips (NYSE: COP)
+5.9%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article interests energy investors including Exxon Mobil (NYSE: XOM), BP (NYSE: BP), PetroChina (NYSE: PTR), Petrobras (NYSE: PZE), Royal Dutch Shell (OTC: RYDAF.PK), Total (NYSE: TOT), Chevron (NYSE: CVX), Repsol (OTC: REPYY.PK), ConocoPhillips (NYSE: COP), Eni SpA (NYSE: E), Sasol (NYSE: SSL), Encana (NYSE: ECA), Suncor (NYSE: SU), Imperial Oil (AMEX: IMO), Statoil (NYSE: STO), Cenovus (NYSE: CVE), Transocean (NYSE: RIG), Penn West Petroleum (NYSE: PWE), Continental Resources (NYSE: CLR), Noble (NYSE: NE), Concho (NYSE: CXO), Diamond Offshore (NYSE: DO), Ensco (NYSE: ESV), Whiting Petroleum (NYSE: WLL), Nabors (NYSE: NBR), Pride International (NYSE: PDE), Helmerich & Payne (NYSE: HP), QEP Resources (NYSE: QEP), Enerplus (NYSE: ERF), Rowan (NYSE: RDC), Cobalt (NYSE: CIE), Patterson UTI (Nasdaq: PTEN), SandRidge (NYSE: SD), Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), Baker Hughes (NYSE: BHI), Weatherford International (NYSE: WFT), Cameron (NYSE: CAM), FMC Tech (NYSE: FTI), Oil States International (NYSE: OIS), Superior Energy (NYSE: SPN), Carbo Ceramics (NYSE: CRR), Helix Energy (NYSE: HLX), Pioneer (NYSE: PXD), CNOOC (NYSE: CEO), China Petroleum and Chemical (NYSE: SNP), Ecopetrol (NYSE: EC), Canadian Natural Resources (NYSE: CNQ), Apache (NYSE: APA), Anadarko (NYSE: APC), Devon (NYSE: DVN), EOG (NYSE: EOG), Chesapeake (NYSE: CHK).

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