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"Sell the energy companies, oil prices will go down."

I've been hearing this phrase since last year, when oil was described as unsustainable. In the meantime, my stocks are still nicely in the black and oil prices are rising sharply AGAIN today after Saudi Arabia pledged major production cuts in July while the Organization of Petroleum Exporting Countries and allies agreed to extend supply curbs through 2024.

At an OPEC+ meeting over the weekend, Saudi Arabia said it would cut output by about 1 million barrels per day (bpd) to 9 million bpd in July.


It depends on reserves and production. It's all in the hands of Opceu, and that's why I prefer to stay out of it.

Oil is great, we won't be without it for a long time, production is expanding, and the companies are relatively cheap given the situation and future prospects.

I do trade oil occasionally, I wrote a little bit about it here yesterday and I'm cool with it. We're staying in a definite range up, down and that's fine. I don't expect oil to drop any significant amount.

I hold energy stocks on principle, end of war in sight, OPEC erratic, regular dividend.