Quote:
Originally Posted by Octavian
Well it's about supply and demand and that's a big part of what I was discussing above... the big diversified oil plays like BP, Exxon, Chevron, RDS, - they all need to maintain their levels of production to maintain the price of oil. They don't want oil to soar too high or it will cut down on world wide purchasing.
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I read what you wrote but I was a little confused on whether or not you were talking about oil extraction or refinery processing. From what I understand is that the prices are up because of refinery problems, not necessarily the output from drilling. Am I understanding this correctly?
I own Shell and BP stocks, both have been great performers over the last 5 years. Nothing will last forever though and I have been thinking about making a spec play and getting out after this weinter heating season. I have not investigated the energy sector that much since I got into Oil.