Is Saudi Arabia Setting The World Up For Major Oil Price Spike? - Yahoo Finance
This is an interesting Yahoo article about how Saudi Arabia is producing more oil than normal to keep the price of oil low. This is also happening at a time when Iraq and Libya are putting more oil on the market. The end result is that the rally in U.S. oil stocks may be over for now even when our output is expected to decline in May. Dennis Gartman said the same thing at CNBC that the rally in the price of oil has peaked presently. Profits were being taken from MDR on Friday although the stock price recovered some at the day's end. So, it might be a good idea to take some money off the table in oil stocks next week.
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