Shorted OIL

I know this is the prevailing opinion, but if you check the facts you'll see that China oil imports are DROPPING since 2004. They're relying increasingly on DOMESTIC production.

Also, which part of Saudi oil minister statements in bold above is unclear? THEY CAN FIND NO BUYERS FOR THEIR OIL. LIGHT SWEET ALSO (dismissing the con-line that it's all heavy oils and therefore market isn't interested).

So, either you think that OPEC producers are lying when they said last year "find me a buyer and I'll sell him 2Mbpd".

Or, some other factors are at work here, about which I've outlined my theory in the past.

 

You're catching on . I've been telling everyone I know that Chinese oil consumption was down 0.2% in 2005 and imports were down over 5%

 

How is that oil short working out?

-segv

 

I need some advice. I have a lot of oil stocks that I would like to hedge in the options market. I would like to hedge the price of oil. What is the best way to accomplish this? Thanks

 

take a look at USO ( the new oil ETF )

 

Thanks very much Setharb. I looked up USO on Ameritrade, and it doesn't show options traded for this stock. otherwise, it would have been about perfect for my purposes.

 

i am with you on your oil short, empee. my call is 70 or below prior to 80. i am short from 73.50.

surfer

 

What a moron shorting oil, especially during the summer months when demand is high. Haven't you guys noticed that oil prices go up faster and slower to come down at the pumps? Think about it... if you were the guy in charge of producing oil in the mideast, would you rather jack up prices to make more money when you know the world has no other option but to pay your high demands... or would you lower your own prices for no reason at all? There's no such thing as having enough resources... especially here in the US. Sooner or later the government will have to re-stockpile the petroleum reserves that they used up to dump into the market to maintain these levels that they're at right now? If the government didn't released reserves into the market, do you really think oil would be sitting here at just $3 a gallon during the summer months? You don't need any fancy analyst, its just pure common sense.

 

Why do you care? It is not your money??

 

But it is my money when I trade oil thru my commodities broker.