OPEC Cuts and Oil Drops
Dec 18th, 2008 by Shaun Carter
OPEC announced a historic cut to oil production today and the market sold off significantly, sending crude oil prices down over $3 a barrel to just over $40. I think the market is oversold, by a significant margin, and this is a tremendous buying opportunity for oil related investments. While the global economic recession is certain, the world’s appetite for oil will only continue to increase over the long term and could provide strong long term gains.
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