Oil ETFs Rally into Bull Market on Supply Concerns | ETF Trends
Here is an outstanding article which explains the recent rally in oil stocks. OPEC has finally come to its senses and thinks $80 per barrel is a reasonable oil price. Therefore, they will be cutting production to raise the price of oil. Moreover, the U.S. oil production has finally started to decline which will help prices also. I am buying UWTI, a triple long oil ETF, tomorrow morning. Oil will probably continue to rise while the rest of the stock market languishes.
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