Oil Gains are Ignorant – Saudi Arabia Means Business

Oil prices are rising in ignorance. Ignoring recent statements and the actions of Saudi Arabia is probably foolish. I believe Saudi Arabia means business with regard to its defense of market share and its interest in limiting the progression of its rival to the north, Iran. As a result, recent market enthusiasm about the possibility of a supply curb via a production freeze could quickly be replaced by fear of the impact of a production increase from Saudi Arabia and others. Oil prices should correct on that eventual announcement and on other actions by Saudi Arabia as it defends market share and its place in the Middle East. See the full story via my report Oil Ignorance - Saudi Arabia Means Business.

Energy Relative Shares	04-19-16 12:25 PM EDT
SPDR S&P 500 (NYSE: SPY)	-0.1%
United States Oil (NYSE: USO)	+2.8%
iPath S&P GSCI Crude Oil (NYSE: OIL)	+3.4%
United States Natural Gas (NYSE: UNG)	+4.9%
Energy Select Sector SPDR (NYSE: XLE)	+1.5%
SPDR S&P Oil & Gas E&P (NYSE: XOP)	+2.1%
Market Vectors Oil Services (NYSE: OIH)	+3.3%
Exxon Mobil (NYSE: XOM)	+0.4%
Chevron (NYSE: CVX)	+1.2%
B.P. (NYSE: BP)	+1.9%
TOTAL S.A. (NYSE: TOT)	+2.0%
ConocoPhillips (NYSE: COP)	+2.5%
Phillips 66 (NYSE: PSX)	-0.0%
Occidental Petroleum (NYSE: OXY)	+1.5%
Schlumberger (NYSE: SLB)	+1.6%
Weatherford Int’l (NYSE: WFT)	-0.6%
Halliburton (NYSE: HAL)	+2.0%

Disclosure: Kaminis is short USO. 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).